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  • Munich Re continued the trend for (re)insurers to buy brokers and agents to increase control over distribution with its acquisition of UK intermediary Bell & Clements Group this month.
  • US-based brokers Arthur J Gallagher & Co (AJG) and Hilb Rogal & Hobbs (HRH) disappointed analysts with first quarter profits down on expectations last month as the top line suffered from the impact of declining insurance rates.
  • First quarter results from the big three brokers met with a mixed response, as Aon and Willis found favour for growing revenues and profits, while Marsh & McLennan Companies, Inc (MMC) traded down on sluggish results.
  • It was a long time coming, but Brit Insurance finally confirmed the sale of a controlling stake in its electronic trading platform RI3K to a consortium including ICAP founder Michael Spencer, and hedge fund giant Eton Park LLP.
  • Strong earnings but falling top-line figures were the dominant features of first quarter results from Bermuda’s public (re)insurers as pipeline profits from the end of the hard market were countered by growing signs of softening underwriting conditions.
  • The latest developments in the international (re)insurance market
  • In a further sign of dramatically changed supply conditions in the retro market, rates for Industry Loss Warranties (ILWs) have slumped 30 percent since 1 January 2007, according to Montpelier Re chairman and CEO Tony Taylor.
  • Latest developments in the London (re)insurance market
  • The Bermudian (re)insurer Validus Holdings Ltd is set to complete the acquisition of Lloyd’s based Talbot Underwriting Holdings, as first revealed by The Insurance Insider.
  • If reports are true, Patrick Snowball’s decision to reappear at Towergate is masterful. Snowball was widely thought to have fallen out with his Aviva colleague Andrew Moss