AXIS Capital and PartnerRe to Combine in $11 Billion Merger

Please find below the announcement that AXIS Capital have released in relation to this acquisition that will create the world’s fifth-largest (re)insurer.  This is the second merger announced this year and as we have forecasted previously and we expect further consolidations to occur as the market reacts to increased competition and premium reductions arising from the continued inflow of new capital. As always we will keep you fully appraised of further developments and appropriate strategies to address these changes.