Cooper Gay sells 14%
SC Insurance and Risk Services, a subsidiary of Sonae, agreed terms for the acquisition of approximately 14% of Cooper Gay (Holdings), with an option to increase its holding to 28%. A spokesperson for Cooper Gay said: "Cooper Gay has secured its long-term future as an independent broking operation and gained the financial resources to support its strategic growth plans."
Aon's quarterly results rise
Aon released its results for the first quarter of 2007, reporting an 8% rise in net income to $213m, compared to $198m for the prior year quarter.
Aspen improves ratio
Aspen reported a combined ratio for the first quarter of 2007 of 79.4% compared to 90.4% for the same quarter in 2006. Net income was $121.9m versus $61.8m for the same quarter in 2006.