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Munich Re buys Bell & Clements
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.
11 May 2007
US brokers face first quarter squeeze
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.
11 May 2007
MMC disappoints as rivals continue to grow
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.
11 May 2007
Spencer builds insurance presence with trading platform
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.
11 May 2007
Top-line stagnation points to softening market
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.
11 May 2007
INTERNATIONAL NEWS DIGEST
The latest developments in the international (re)insurance market
11 May 2007
ILW pricing slumps
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.
11 May 2007
LONDON NEWS DIGEST
Latest developments in the London (re)insurance market
11 May 2007
Validus to buy Lloyd’s insurer
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.
11 May 2007
UK insurance giants face being cut down to size
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
11 May 2007
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