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  • Marsh & McLennan Companies (MMC) has slipped to a $210mn first quarter net loss as a result of a $425mn goodwill writedown at its security consulting arm Kroll.
  • Acquisitive broker Oval Limited continued on its expansion path last week with the announcement that it has agreed to buy independent Lloyd’s broker Lochain Patrick, subject to regulatory approval.
  • The Association of Lloyd’s Members welcomed the possible arrival of English Limited Liability Partnerships as an alternative investment vehicle for private Lloyd’s investors at its national conference last week.
  • The London market has exceeded its latest target laid-down in conjunction with UK regulator, the Financial Services Authority (FSA), to ensure contract certainty of policies agreed in December. According to the Market Reform Group (MRG) – the industry
  • Heath Lambert, the independent UK broker that came close to tying the knot with rival Jardine Lloyd Thompson Group plc last year, looks set to unveil a 2006 turnover of around £121mn...
  • Defiant London market contingency underwriters scored a victory last week in the UK High Court against claims by the insurer of Atletico Madrid, a Spanish football club, that it should be compensated for relegation.
  • BlackRock, one of the five biggest holders of London-listed insurance equities, has slashed its stake in Omega Insurance by more than half.
  • The final defendant in the cases related to illegal payments made by Milberg Weiss has pleaded guilty to a charge over tax.
  • AIG has used the proceeds from its sale of MetLife stock to reduce its obligations to the US Treasury by a further $6.9bn, bringing the balance repaid in 2011 to $36bn.
  • Australian insurer Suncorp has disclosed losses from the Q4 2010 and Q1 2011 Australian flooding of $1.42bn (A$1.33bn).