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  • The (re)insurance industry is set for a surge in mergers and acquisition (M&A) activity as cash-rich companies look for scale and diversification in the face of a softening market and rating agency pressures.
  • Despite a share price that has leapt from 3p to the heady heights of 4.5p in the past few months, GoshawK’s market capitalisation is a mere £40mn.
  • Within the run-off industry, you do not have to travel far to hear complaints over poor service provided by brokers on discontinued accounts.
  • Lockton Companies Inc burst onto the UK shores in November 2006, with the Stone Point Capital-backed acquisition of Alexander Forbes International Risk Services (AFIRS) and immediately claimed the title of largest privately-owned global insurance broker.
  • Reinsurers were given cheer – and some guidance – in the UK High Court regarding “follow the settlement” clauses.
  • Warren Buffett has signalled his intention to undertake a large acquisition, saying that Berkshire Hathaway Inc (Berkshire) has more cash than investment opportunities.
  • 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.
  • Stephen Way, the founder of HCC Insurance Holdings, has joined forces with a Chicago-based private equity firm to acquire businesses in the (re)insurance sector.
  • Liability veteran, Bob Wallace, has parted company with the Imagine Group, after just a year as chairman of the group’s combined Lloyd’s operation.
  • 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.