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  • US broker USI Holdings saw its shares leap 8 percent last week after the independent firm admitted it was mulling a private equity buyout offer.
  • The list of industry casualties following various regulatory investigations into the industry’s use of finite reinsurance continued recently with news...
  • Zurich based financial services group Credit Suisse revealed Friday (4 February) that it has upped its payable to XL by $257mn in relation to the Bermudian (re)insurer’s acquisition of Winterthur International back in 2001.
  • Willis’ hopes that it may be the main beneficiary from any client fall-out at Marsh were boosted last week with the revelation that Fortune brands – a company named in Spitzer’s 14 October lawsuit – appointed Willis to replace the world’s largest broker.
  • GoshwawK, the parent of Bermudian reinsurer Rosemont Re, has revealed that it is the latest insurer to face exposure to controversial US bail bond losses.
  • Aon has moved swiftly to appoint a new CEO of its UK retail operations, naming Rob Brown to replace Peter Harmer - who will return to his native Australia in September.
  • Pat Ryan, the founding chairman of broking giant Aon Corp, announced plans to sell five million shares in the company, equivalent to some $146mn.
  • Fairfax Financial Holdings controlled reinsurer Odyssey Re restated its results for the past five years on 16 October, correcting accounting errors relating to its investments.
  • The recent devastating earthquake in China's Sichuan province will cost the country's insurers a mere $43mn, according to the China Insurance Regulatory Commission (CIRC).
  • Morgan Stanley insurance analyst Bill Wilt applauded ACE Ltd’s decision to provide further disclosure on its reserves by publishing its global loss triangles.