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  • UK-listed broker Jardine Lloyd Thompson (JLT) has expanded its Bermudian operations with the acquisition of Park (Bermuda) Ltd (Park) for up to $11.8mn cash.
  • Class of 2005 reinsurer Ariel Re has become the latest Bermudian firm to buy into Lloyd’s with a £193.2mn deal for Atrium Underwriting plc.
  • Bermudian reinsurer IPCRe has released a $100mn profit warning following recent storm and flood events on opposite sides of the globe in the UK and Australia.
  • Giant US insurer American International Group (AIG) is the lead underwriter on the passenger jet that crashed into a fuel depot and burst into flames while landing in Sao Paulo last night, according to market sources.
  • New York-based Hales & Company, an investment bank that focuses on the insurance sector, has acquired WFG Capital Advisors for an undisclosed fee.
  • London-based (re)insurer Liberty International Underwriters (LIU), a division of US insurer Liberty Mutual Group, has recruited London market veteran Ray Miller as vice president for Marine, Energy and Construction.
  • In an announcement that will come as good news to early entrants to the Chinese reinsurance market, the China Insurance Regulatory Commission has predicted that demand for reinsurance is expected to reach 100 billion yuan ($13.2bn) by 2010 when total prem
  • London market broker Jardine Lloyd Thompson has announced the appointment of Ron Hayes as managing director of its Global Risk Solutions Division.
  • Despite little activity to date, the 2007 North Atlantic hurricane season is still expected to see above average activity, with hurricanes forming in the Caribbean and near the Bahamas more likely to make landfall, according to a July update report by rei
  • Lloyd’s CEO Richard Ward has warned the London market that the “pace of change” on business processes remains too slow and reiterated his willingness to mandate action if necessary.