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  • Expansive broking house AJ Gallagher has added another agency to its growing stable with the acquisition of Armstrong/Robitaille/Riegle in Ann Arbor, Michigan
  • Consolidated broker holding company KIRS Group priced about £800mn ($1.04bn) in debt today through sales of five-year securities that carry rates well above high-yield bond benchmarks
  • Credit ratings agency Standard & Poor's (S&P) has lowered AIG's rating outlook to negative from stable, saying the company has been "subpar" at meeting targets. The revision comes less than a month after former Hamilton CEO and chairman Brian Duperreault took the reins as AIG CEO.
  • Bermudian (re)insurer Arch Capital said losses from its property facultative reinsurance book will erode $38mn from its pre-tax underwriting profit in the second quarter
  • No one can blame Maiden for doing its best to defend its business and sagging share price from collateral damage inflicted by sister company AmTrust, and in an investor presentation this week company leaders did just that
  • Credit ratings agency Standard & Poor's has lowered AIG's rating outlook to negative from stable, saying the company has been "subpar" at meeting targets.
  • Private equity-backed broker Hub has acquired California-based personal lines intermediary Colton Insurance Associates.
  • Matthew Power has taken an expanded role at AIG’s excess and surplus lines (E&S) operation Lexington after being promoted to head of the carrier’s national branch, The Insurance Insider can reveal.
  • Capital repatriation slowed down in Q1 compared to the same period of last year for most P&C (re)insurers in our coverage universe, with share repurchases proving unattractive as operating earnings subsided
  • The PRA is investigating broker facilities in one of two interconnected reviews launched amid pleas for help from carriers in tackling mounting acquisition costs, The Insurance Insider has learned