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  • Broker Willis has reported profits of $300mn for 2005, down 30 percent from $427mn the previous year on higher costs and the loss of so-called Placement Service Agreements or contingent commissions.
  • London market broker Humphreys Haggas Sutton & Co is to rebrand following its acquisition by Integro Ltd earlier this year. Humphreys Haggas Sutton & Co Ltd – which was formed in 1994 – will trade going forward as Integro Insurance Brokers Ltd.
  • In contrast to Insider Week’s sister publication The Insurance Insider, analysts at US investment house Prudential Equity believe that the global brokers have only a marginal reliance on so-called Placement Service Agreements for their revenue.
  • The US Securities and Exchange Commission (SEC) has charged another long-term employee of Bernie Madoff for facilitating the work of the swindler's massive Ponzi scheme.
  • Collateralised retrocession writer Catco has attracted at least $375mn from a new fundraising round, putting the firm's reinsurance funds under management at nearly $900mn in its first year.
  • Tokio Marine's net loss from the Great East Japan earthquake has grown from 90bn yen ($1.2bn) to 150bn yen ($1.9bn) in the months following the catastrophe.
  • Aon Benfield has hired London managing director at Guy Carpenter's marine & energy division, Jack Stephenson, The Insurance Insider can reveal.
  • Freezing weather conditions in Europe have killed dozens from exposure, caused a building to collapse in Poland and wreaked havoc on roads over the last week. The extreme weather conditions hit the (re)insurance sector at its most nervous...
  • The Q1 financials of Australian general insurers such as QBE and IAG are likely to reflect the growing impact of heavy domestic cat losses in the period.
  • Specialist (re)insurance IT solutions provider Sequel Business Solutions has signed up Willis group Services in a significant deal that will see the world's third largest broker use its Eclipse Broking solution.