January 2008/2

The takeover of PWS Holdings plc's Lloyd's business and overseas interests by specialist broker THB Group plc could be completed as early as today (24 January).

UK mid-market business is currently a tough sector with typically high service costs and falling commission rates. Occupying that role at Aon is now Robert Brown following the exit of the previous incumbent, John Thornton.

Troubled Bermudian XL Capital said last night it expects to book up to $1.7bn in after tax fourth quarter charges related to the sub-prime fallout when it reports its financials next month.

Specialist UK broker THB Group plc has completed its £8.5mn acquisition of PWS Holdings plc’s Lloyd's business and overseas interests, it confirmed this afternoon (24 January).

Despite Berkshire Hathaway's Swiss Re stake being a "vote of confidence" in its competitor, one analyst has highlighted the dilutive effect of the "attached" quota share deal on the reinsurance giant's earnings per share (EPS).

Berkshire Hathaway Inc has acquired a 3 percent stake in reinsurance giant, Swiss Re, while also entering into a major quota share reinsurance contract with the Warren Buffett-led group.

Shares in European and Lloyd’s (re)insurers have continued to slide this morning as fears of a US recession persist in the financial markets.

Shares in European (re)insurers have bounced back this afternoon after sliding in early trading today.

The Bermudian insurance group Ironshore Inc has told Heritage Underwriting Agency that it does not intend to make a formal offer for the Lloyd’s insurer.

Willis Group is likely to face significant regulatory hurdles if it is to be successful in concluding a possible takeover of its larger rival Marsh & McLennan (MMC).

US giant American International Group (AIG) leads the hull cover on the British Airways jet that crash-landed at London’s Heathrow Airport yesterday (17 January) while carrying more than 150 passengers.

Crystal ball-gazers of broker M&A activity have long predicted that Joe Plumeri has at least one major deal in him before he steps down at Willis Group and it could prove to be a spectacular one.