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  • UK broking consolidator, Towergate Partnership agreed a £95mn cash offer for Yorkshire-based Broker Network Group last week.
  • Exclusive analysis of UK dispute filings
  • Insurance giant American International Group (AIG) slumped to a fourth quarter net loss of $5.29bn after taking a staggering $11.12bn pre-tax mark-to-market loss on the super senior credit default swap (CDS) book of its financial products division AIGFP.
  • Alongside access to international risks, and the Society's A+ Standard & Poor's (S&P) rating, the lower capital requirements of operating at Lloyd's are one of its key attractions to new entrants and acquirers of existing businesses.
  • The last scene of the great Lloyd's tragicomedy is being played out in the Commercial Court before Mr Justice Cresswell. 220 Names are seeking to avoid pursuit by Lloyd's for debt by suing the Society for fraudulent misrepresentation.
  • All leave had been cancelled for Marsh Ltd’s London brokers at the end of last week as the firm steeled itself for the results of the investigation into its London market practices, but in the end the Freshfields Bruckhaus Deringer-produced 12-page report
  • Heath Lambert's proposed sale of its wholesale operations could be endangered by opposition from at least one key executive.
  • Germany’s Hannover Re reported third quarter figures stung by the recent catastrophic windstorms in the US and Japan, with operating profit of just €32.6mn for the quarter, compared to €216mn for the same period last year. The group’s quarterly €20.4mn ne
  • Foreign exchange losses sent PARIS RE to a $129.5mn first quarter net loss under IFRS reporting, against a comparable prior-year period net profit of $35.7mn.
  • Bermudian reinsurers Everest Re Group and PartnerRe Ltd emerged relatively unscathed from high-profile second quarter Australian and UK cat events to report net earnings increases of 28 percent and 35 percent, respectively, for the period.