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  • Former senior Brown & Brown executives Jim Henderson and Tom Riley have secured up to $250mn private equity backing to launch Assured Agencies, a consolidation platform to build a middle market insurance broker that is being seen as a direct threat to their previous employer.
  • Equity Syndicate 218's losses from its misfiring motor book are likely to reach £480mn, figures released by Equity Syndicate Management Limited suggest.
  • Little more than a month after a $150mn private equity injection took its shareholder equity through the $1bn threshold, expansionist start-up Torus has entered the London financial lines market.
  • US insurer RLI beat Wall Street projections as it booked Q2 operating earnings of $25.2mn or $1.17 a share that were ahead of analysts' consensus of $1.15 a share.
  • US broker AJ Gallagher achieved a 9.5 percent increase in its 2010 earnings to $135.5mn, but its brokerage segment suffered a 1.7 decline in organic revenues over the year
  • UK insurer Prudential has denied that it will unveil a revised takeover proposal for AIA, the Asian business of US insurer American International Group (AIG).
  • Any injury-related costs from a mining explosion in New Zealand are unlikely to impact the international insurance industry as accident cover is provided by a national compensation scheme.
  • Bermuda-headquartered London listed insurer Catlin last week (11 March) announced record premium and profit figures for 2004, despite the year’s record hurricane losses. The company booked gross premiums of $1.43bn, a 20 percent increase on 2003’s $1.2
  • Serial insurance-linked securities (ILS) issuer Chubb Corp is launching its fourth East Lane Re cat bond, seeking $200mn of cover against north-eastern US wind and earthquake losses.
  • Marsh & McLennan Companies' (MMC) insurance broking subsidiary has put its "big three" rivals in the shade by announcing 6 percent organic revenue growth in the fourth quarter