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  • City law firms Barlow Lyde & Gilbert (BLG) and Clyde & Co have agreed to merge after a vote on the terms of the merger by the respective partnerships.
  • JLT will become the world's leading aviation broker within 18 to 24 months, the broker's chief executive Dominic Burke has said.
  • Lloyd's of London has won approval to post reduced collateral on reinsurance contracts in the state of New York. As a Secure-3 reinsurer, Lloyd's will now have to put up only 20 percent of collateral in order to write business in the Empire State.
  • Second quarter results from US insurers are showing the pressure of tornado claims as a trio of firms reported in July.
  • Aon's retail insurance broking operations delivered revenue growth of 11 percent in the second quarter, helping to offset poor performance in its reinsurance.
  • International broking group JLT maintained strong organic growth during the first six months of 2011, as the firm continued to benefit from its business in the world's fast growing emerging economies.
  • Validus has fired the latest salvo in the battle for Transatlantic Holdings by accusing the US reinsurer's board of "spreading misinformation" about its offer and "burying their heads in the sand and blaming it on their ill-advised acquisition agreement with Allied World".
  • Bermudian Maiden Holdings delivered a solid set of underlying results for the second quarter with net operating profits of $11.2mn, despite taking $9.5mn of losses from the record US thunderstorm and tornado activity in the period.
  • New Zealand's Earthquake Commission failed to renew one of its multi-year reinsurance contracts at the July renewals and had to source the cover on an annual basis, according to local press.
  • The battle for Transatlantic Holdings has gone legal with the US reinsurer suing Validus Holdings over the Bermudian's exchange offer direct to its shareholders and adopting a limited stockholders rights plan designed to significantly dilute the holdings of an unsolicited potential acquirer.