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Brown & Brown breaks the $1bn revenue barrier in 2011
3 February 2012
US broker Brown & Brown broke the $1bn total revenue mark for the first time last year as it booked net profits of $164mn, just ahead of the $162mn it earned in 2010… Read more
UK insurers could see cost of regulation increase
3 February 2012
UK general insurers could see a minimum increase of 36.7 percent to their levies from the Financial Services Authority (FSA), because of the extra costs the regulator is facing in overhauling its structure… Read more
White Mountains performance slides but Sirius breaks even
3 February 2012
White Mountains reported a $768mn profit for 2011, boosted by a $678mn gain on the sale of its Esurance and Answer Financial business to Allstate, but on an underlying basis its pre-tax annual income more than halved… Read more
BB&T to create top US wholesaler with Crump deal
3 February 2012
US intermediary BB&T Insurance Services has agreed to purchase Crump Group, the second-biggest US wholesale insurance broker, for $570mn cash in a merger likely to create the largest wholesaler in the country… Read more
Allstate can’t sue BoA over mortgage losses
3 February 2012
US insurer Allstate has been dealt a legal blow after a California court ruled that it could not hold Bank of America (BoA) liable for the toxic assets the insurer bought from Countrywide Financial Corporation (CFC)… Read more
Government tried to steal AIG – Greenberg
3 February 2012
CV Starr, the insurance group run by former American International Group (AIG) chief executive Hank Greenberg, has amended its law suit against the US government, adding an accusation that officials opportunistically used the financial crisis to "steal" AIG from its shareholders… Read more
Legislative delay threatens Solvency II break-up – Eiopa
3 February 2012
Stalled legislation needed to implement Solvency II could undermine the main goals of the regime, said European Insurance and Occupational Pensions Authority (Eiopa) chairman Gabriel Bernardino… Read more
Aon Benfield stops contraction with 4% organic growth in Q4
3 February 2012
Aon Corporation has succeeded in reversing the decline in organic revenues at its reinsurance arm Aon Benfield as the overall group achieved organic growth of 3 percent in the final quarter of the year… Read more
European M&A to rise in challenging environment: E&Y
3 February 2012
Europe's economic problems are likely to drive (re)insurance mergers and acquisitions in 2012, big four accountancy firm Ernst & Young (E&Y) has predicted… Read more
Admiral shares rebound as reinsurance programme renews at unchanged price
3 February 2012
UK motor insurer Admiral has confirmed that it has extended its reinsurance agreements through to 2014… Read more
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