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  • Aon Corp has initiated a significant restructuring of its senior international management designed to enhance its client functions and global placement capabilities.
  • Marsh Inc has been awarded China’s first Wholly-Owned Foreign Enterprise (WOFE) insurance broking license, it announced yesterday (22 January).
  • UK insurer Royal & Sun Alliance Insurance Group plc (R&SA) has welcomed the ruling of a Michigan Circuit Court that General Motors (GM) is not entitled to coverage for its asbestos and environmental liabilities.
  • Share prices of Bermudian and Lloyd’s (re)insurers fell following the passage of a bill on Monday (22 January) that will see significant state intervention in the Florida insurance market and take an estimated $4bn premium ou
  • Florida lawmakers yesterday (22 January) overwhelmingly passed a bill aimed at lowering the cost of property insurance that will see significant state intervention in the insurance market.
  • London-based reinsurance broker Cooper Gay has announced that Jeremy Goodman, the managing director of its US-based Cooper Gay Steele reinsurance broking operation, will leave the company for personal reasons.
  • The CEO of the UK regulator, the Financial Services Authority (FSA), announced he would be stepping down in July this year in an unexpected announcement on 16 January.
  • Catastrophe risk modelling firm AIR Worldwide has estimated insured losses from windstorm Kyrill will be $5.2-10.4bn.
  • Insured US catastrophe losses were down to $9bn last year, according to figures published by ISO’s Property Claim Services (PCS) on 16 January.
  • Hannover Re has re-visited the capital markets in order to boost its Kaith Re "K5" securitisation to $520mn and expand its underwriting capacity.