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  • American International Group (AIG) is close to selling its US motor insurance business to Zurich Financial Services (Zurich) in a deal worth between $1.5bn and $2bn, according to reports.
  • Australian insurer QBE ended the search for a new CEO of its Americas division with the internal appointment of John Rumpler, announced at its shareholders’ AGM last week (8 April).
  • The European insurance and reinsurance federation, the CEA, has emphasised its support for re-considering Solvency II’s contentious group provision after the directive has been in place for three years.
  • Defections from the recently formed broking leviathan Aon Benfield have continued, with confirmation that the former head of Benfield’s Brussels office, Wim Raeymaekers, is joining the Benelux leadership team of rival broker Guy Carpenter
  • Global reinsurers' capital may have deteriorated by a further 10 percent in the first quarter of 2009 as stock markets continued to slide, according to Guy Carpenter (GC)’s head of business intelligence Chris Klein.
  • Hurricane forecasters from Colorado State University have lowered an early prediction of 14 named storms in the upcoming Atlantic season to 12.
  • A raft of proposals are being considered by the Florida legislature to address a funding crisis at its cat fund that would leave the state in dire financial straits if hit by a major hurricane this year.
  • US life insurers were handed a boost last week with reports that the Troubled Asset Relief Program (TARP) is to be officially extended to the beleaguered sector.
  • The momentum behind hardening in the airline insurance market has seen average lead hull and liability rate rises of 5 percent in 2009, according to a sector update from Aon.
  • New cat bond sponsor Assurant Inc has launched a $150mn US wind transaction, while Allianz has increased the size of its Blue Fin II cat bond to $180mn...