NU Online News Service, April 20, 3:44 p.m. EDT

The dollar value of merger and acquisition activity for the U.S. property-casualty sector grew last year by $2.67 million, but worldwide for all insurers the monetary worth of mergers declined, a consulting firm reported.

Conning Research and Consulting said in 2008 worldwide there was a greater amount of small deals–766 transactions with a value of just over $55 billion, compared with 750 transactions at a reported value of more than $138 billion in 2007.

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