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  • Aon Corp was the last of the three global brokers to report its second quarter results this week and they were perhaps the least remarkable.
  • John Charman, the former Lloyd’s deputy chairman and founding president of AXIS Capital, has been ordered to pay his ex-wife £48mn in their divorce settlement.
  • Strong growth from reinsurance was again a key positive from MMC’s second quarter results, but overall broking revenues were down on falling insurance rates and loss of clients in its European operations.
  • German reinsurer Munich Re announced half-year profits of EUR2.1bn today (3 August), a leap of 143 percent from last year, driven by both strong underwriting and investment returns.
  • Willis Group Holdings threw down the gauntlet to rivals MMC and Aon Corp with a solid quarter that included a ten percent organic growth in revenues and details of a new $1bn share buyback programme.
  • The continuing popularity of reinsurance securitisations was reflected this week with news that Bermudian (re)insurer Endurance Specialty Insurance has acquired $235mn of multi-year, collateralised US natural catastrophe reinsurance cover from...
  • Heritage Underwriting Agency plc has become the latest specialist Lloyd’s insurer to list on London Stock Exchange’s Alternative Investment Market (AIM) after trading in its shares began today.
  • Jardine Lloyd Thompson Group plc (JLT) plans to overhaul its staff pension scheme in a bid to reduce the £146mn deficit which hangs over the company.
  • Bermudian life reinsurer Scottish Re was hit by a slew of downgrades following yesterday’s shock profits warning, collapse in its share price and the sudden departure of chief executive Scott E Willkomm.
  • Michael Bright, the colourful founder of collapsed UK insurer Independent Insurance, returned to Southwark Crown Court on 25 July for a preliminary hearing in the conspiracy to defraud trial relating to the collapse of the company.