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  • Expansive Bermudian (re)insurer Torus has acquired the direct and facultative (D&F) arm of Glacier Re for an undisclosed sum, as earlier predicted by sister publication Inside FAC.
  • The insurance segments of the Berkshire Hathaway group registered a 3.5 percent fall in earnings in the first quarter, as lower investment income masked improving underwriting results.
  • Aon's organic broking revenues fell 3 percent year-on-year in the first quarter, as poor performances from its Americas retail division and reinsurance weighed on results.
  • Hispanic (re)insurer Mapfre has posted a modest EUR80.8mn loss from the Chilean earthquake, despite its position as the fourth-largest general insurer in the country.
  • Prominent players in the reinsurance market have revealed they are expecting a $1bn-$1.3bn insured loss range from the Deepwater Horizon oil rig explosion.
  • Fairfax Financial Holdings booked net earnings of $290mn in Q1, despite $182mn cat losses driving its overall combined ratio to 112 percent, as the firm's investment performance came to the rescue.
  • Acquisitive UK independent broker Giles has completed its acquisition of London market broker FSJ from Cooper Gay for an undisclosed fee just two years after Heath Lambert disposed of it.
  • The shareholders of Max Capital and Harbor Point have both voted overwhelmingly to approve a merger between the two companies to create a $3.16bn (re)insurer that will operate as Alterra Capital.
  • US (re)insurer Transatlantic Re has updated its first quarter pre-tax catastrophe loss to $130mn, some 40 percent above its earlier upper assessment of cat losses over the period.
  • UK-headquartered broker Jardine Lloyd Thompson (JLT) has issued a gloomy assessment of US market prospects, describing conditions as the most competitive for over a decade.