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  • Private equity's enthusiasm for large insurance distribution businesses has been demonstrated once again with the news that Hellman & Friedman has bought a majority stake in Hub International Ltd in a deal valuing the expansive US broker at $4.4bn.
  • New York-listed management consultant Towers Watson has appointed Bank of America Merrill Lynch to carry out a strategic review that is expected to end in the sale of its reinsurance broking arm
  • London-listed broker Jardine Lloyd Thompson says it will not follow its rivals in introducing broker facilities of the kind that have caused so much controversy in recent months
  • Big-three broker Willis has hinted at a slight softening of its stance on contingent commissions and other payments from carriers, in a sign that new CEO Dominic Casserley is looking to adopt a more pragmatic approach than his predecessor
  • The international arm of AJ Gallagher has submitted an indicative bid of circa £220mn ($330mn) to enter exclusive talks on acquiring the UK broker aggregator Giles. If consummated, it will be the largest transaction yet for the NYSE-listed firm in its 80+ year history.
  • UK broker consolidator Towergate said it fell to a £9.9mn loss in the first six months of 2013 from a £10.2mn profit in the same period last year, weighed by £14mn in one-off costs related to a debt refinancing.
  • XL Group is continuing to build out its new crisis management team under Stephen Ashwell with the hire of Ben Tucker from Marsh to head up its US political violence business, The Insurance Insider can reveal.
  • The energy market has been bewildered by a series of broker changes at Venezuelan state-owned hydrocarbon company PDVSA that may have left the $1bn+ purchaser of insurance without any protection, The Insurance Insider understands
  • The toll of confirmed departures from Endurance during John Charman's short tenure as CEO has risen above 20, as the Axis founder outlines his plans for expansion of the "class of 2001" (re)insurer
  • Munich Re falls; US P&C rate deceleration; Third Point IPO; Bermuda flurry; Sills steers; Lloyd's producer; SAC Re; Storm surge; Barrie leaves; Non-US rates fall; Berkshire profits; Meadowbrook shares slide; Brit's billion; Fairfax affirmed; MTA cat bond; Alleghany takes Ares stake; Xchanging profits; Barbican reshuffle; Lancashire launch; Argo lowered; Willis Reshuffle; Esure disappoints