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Merger and acquisition activity for property and casualty insurers, agents and brokers heated up in 2010, as insurers sought to improve their strategic standing within the industry, according to a report from Conning Research & Consulting.

The Conning report, “Global Insurance Mergers & Acquisitions in 2010, Moving From Defense to Offense,” said improving valuations and the continued soft market, now in its seventh year, drove the increase in deals.

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