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  • Property Claim Services (PCS) has raised its estimate for onshore insured losses from Hurricane Ike by just over 30 percent to $10.655bn.
  • American International Group (AIG) and the Obama administration are moving closer to a restructuring plan that would pave the way for the US Treasury to make a final exit from the insurance giant.
  • BP has won preliminary approval from a New Orleans court for an estimated $7.8bn settlement agreement to resolve claims by private sector plaintiffs over damages arising from the 2010 Deepwater Horizon incident.
  • The combination of a benign first quarter for cats and favourable reserve development was not enough to push Argo to an underwriting profit, with only investment income and gains helping the firm into the black for the first quarter.
  • Aviva shares opened up this morning (8 May) after it was revealed that CEO Andrew Moss had resigned after almost five years in the job, and just days after shareholders voted down plans for executive pay
  • Lloyd's fledgling ProSight Specialty Underwriters has announced the appointment of Peter Goddard as a non-executive director with immediate effect
  • It was at least a year in development, but Paris-based IXIS Corporate and Investment Bank has finally launched its new Bermudian reinsurer and insurance linked securities fund with some $600mn of capital.
  • Adam Barker, one of the executives to break away from HCC Global (HCCG) to join Ryan Specialty Group's (RSG) nascent London operations, has left the firm by mutual consent, The Insurance Insider can reveal.
  • A reversal of the catastrophe climate year on year and a swing to favourable reserve developments was not enough to push Argo to an underwriting profit, with only investment income and gains helping the firm into the black for the first quarter.
  • Fears that the insurance industry would find itself penalised in the US courts if they declined Hurricane Katrina related payments were again soothed last week when a federal judge said State Farm should not have to pay more than a policyholder’s actual l