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  • UK broking consolidator, Towergate Partnership agreed a £95mn cash offer for Yorkshire-based Broker Network Group last week.
  • Catlin Group Ltd's financial strength and counterparty credit ratings remain unchanged, despite the (re)insurer announcing that it expects to take a $75mn charge against the value of sub-prime-related securities in its investment portfolio.
  • AIG UK Ltd, one of the UK’s largest commercial non-life insurers, has appointed two new industry heavyweights to its board as part of its transformation into a multi-billion pound, FSA authorised insurance company.
  • Chaucer Holdings plc became the latest Lloyd's insurer to offer more capital back to shareholders when it promised to increase its total 2007 dividend by 25 percent.
  • Specialist broker THB Group plc has entered into talks with PWS Holdings over the acquisition of PWS' Lloyd’s broking business and overseas interests.
  • Ratings agency Moody's Investor Services has assigned ratings of Ba1, Ba3 and B3 to the three debt tranches in Bermudian (re)insurer XL Capital's new Cyrus Re II sidecar vehicle.
  • Groupama SA is expected to complete its first insurance linked securities transaction shortly, with its proposed securitisation of EUR200mn of French windstorm risk.
  • Specialist broker THB Group plc has entered into talks with PWS Holdings over the acquisition of PWS’ Lloyd’s broking business and overseas interests.
  • Ping An Insurance, China's second largest life insurer, has bought 4.18 percent of Benelux financial services group Fortis, at a cost of EUR1.81bn.
  • Powerful consolidators are forcing insurers to "fundamentally re-examine their operating models" as they tighten their grip on the commercial SME market, according to the latest research.