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  • Two of the leading enforcers of Marsh's contingent commissions during the heyday of so-called Placement Service Agreements (PSAs) were found guilty last week of taking part in bid-rigging.
  • Start-up Lloyd's Syndicate 2008 has completed its first reinsurance to close (RITC) deal with the closure of the notorious 2001 account on XL Insurance syndicates 861 and 588.
  • After last year's SFr1.2bn write down of credit swaps, analysts have speculated that Swiss Re could face further losses from sub-prime and credit market exposure ahead of the group’s results due out this Friday.
  • Aon Corp has bought Chicago neighbour AJ Gallagher & Co's (AJG) reinsurance arm Gallagher Re - in a move first predicted by The Insurance Insider.
  • The Council of Lloyd's has invited chairman Lord Peter Levene to remain at the Corporation for an unprecedented third term.
  • Munich Re beat its increased profit projections for 2007 as it booked a consolidated result of EUR3.9bn for the year, up 11.9 percent on 2006.
  • A change to the jury last week has caused a delay in reaching a verdict in the trial of Gen Re and American International Group (AIG) executives over an allegedly sham finite reinsurance contract.
  • US insurer HCC Insurance Holdings Inc's conservative business plan and investment strategy saw it reach a record profit for 2007 while steering clear of sub-prime woes.
  • French mutual Groupama SA has completed its preparations for an initial public offering (IPO), which would take place if an opportunity to make a major acquisition should arise, it revealed in its 2007 results.
  • Commercial property insurer FM Global has seen 2007 net income jump by 26 percent to $928mn defying increased competition in the market.