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  • Willis Group shares fell heavily after the broking giant reported third quarter profits below analysts’ expectations and said it was reviewing targets for 2009 and 2010 because of the financial turmoil.
  • In a surprise twist to what looked like a done deal, the Australian watchdog has today (19 April) blocked National Australia Bank (NAB)'s A$14bn ($12.95bn) bid for Axa Asia Pacific Holdings on competition grounds.
  • Joe Plumeri’s arrival has coincided with the return of prosperous times. But the broker’s role in placing the WTC lineslip is an unwelcome cloud on the horizon In May Willis' majority owner, the US private equity firm KKR, took advantage of the broker
  • As reinsurance market practitioners gathered in the town of Baden Baden this weekend, German reinsurance giant Munich Re boldly stated that, for the 1 January 2008 renewals, it predicts markets to be "harder than expected" in certain sectors of the indust
  • The International Underwriting Association of London (IUA) has said that proposals to include insurers under a global banking tax are "hard to justify".
  • Cooper Gay expands in US with Atlanta opening; State Farm appeals Texan fine
  • The scale of the damage caused to the Lloyd's Central Fund by the failure of GoshawK's Syndicate 102 is becoming apparent with the Society paying £76mn last year to cover claims arising from the defunct insurer.
  • Property catastrophe specialist IPC Re last week (26 July) reported net income of $64.1mn or $1.32 a share, down on the $74.1mn or $1.53 a share booked in the second quarter of 2004.
  • Catlin Group experienced a slight fall in nine-month volume at its core London division and growth in its international operations.
  • A second consecutive quarter of heavy catastrophe losses took its toll on early reporting US insurers as profits slipped at Allstate Corp, Travelers, Liberty Mutual, WR Berkley and Chubb.