Pearson agrees $75 million settlement in U.S. e-books case

Published May 22, 2013 - 2:00pm CST

(Reuters) — British publisher Pearson's Penguin unit said on Wednesday it would pay $75 million in damages plus costs to U.S. states and consumers as part of an agreement over alleged price-fixing in the e-book market.

Marsh offers D&O coverage for international organizations

By: Anna Gaynor

Published May 20, 2013 - 11:41am CST

Marsh Inc. has launched a directors and officers liability insurance program for international organizations.

Takaful insurance capacity increases with demand

By: Sarah Veysey

Published May 19, 2013 - 6:00am CST

Increased demand for Sharia-compliant insurance coverage for large and medium-size commercial risks has prompted the launch of a managing general agent in London and likely will lead to more insurers offering Sharia-compliant products, experts say.

Political violence map shows 44% of countries vulnerable to terrorism: Aon

By: Sarah Veysey

Published May 15, 2013 - 6:00am CST

Forty-four percent of countries have an identifiable risk of terrorist attack, according to Aon P.L.C.'s 10th annual terrorism and political violence map.

H&M, others back new Bangladesh factory safety accord

Published May 13, 2013 - 2:15pm CST

(Reuters) — Inditex S.A. and Hennes & Mauritz A.B., along with several other companies, have backed an accord aimed at preventing a repeat of last month's collapse at a Bangladesh factory building that killed more than 1,100 people.

Lloyd's construction consortium offers capacity of $166 million

By: Sarah Veysey

Published May 13, 2013 - 10:16am CST

Four Lloyd's of London insurers have formed a consortium to offer their combined capacity to large construction risks.

Aon Benfield launches construction, engineering team

By: Sarah Veysey

Published May 08, 2013 - 9:08am CST

Aon Benfield, the reinsurance arm of London-based brokerage Aon P.L.C., has launched a construction and engineering team.

Hiscox says reinsurance rates steady at April 1 renewals

By: Sarah Veysey

Published May 07, 2013 - 9:50am CST

Hiscox Ltd. on Tuesday said reinsurance rates remained “mostly healthy” during the first quarter of 2013 and that some business impacted by losses from Superstorm Sandy saw rate increases.

New U.K. law eases worker liability standard in comp cases

By: Sarah Veysey

Published May 05, 2013 - 6:00am CST

Under a recently approved U.K. law, employees will have to prove employer negligence to win a workplace injury claim in the United Kingdom, and employers will have more options when dealing with underperforming workers.

Gallagher builds up U.K. presence

Published May 02, 2013 - 10:31am CST

Arthur J. Gallagher & Co. has acquired Property & Commercial Ltd. in the United Kingdom from Barbon Insurance Group.

Axa looks to freeze U.K. pension fund

By: Thao Hua, Pensions & Investments

Published April 30, 2013 - 3:01pm CST

Axa S.A. is proposing to freeze its £3.28 billion ($5.08 billion) U.K. defined benefit pension fund, which has been closed to new employees members since 2003, according to a company spokeswoman.

Regulatory inquiries, penalties top U.K. executive concerns: Study

By: Sarah Veysey

Published April 23, 2013 - 9:38am CST

The threat of regulatory inquiries and criminal penalties top the concerns of U.K. company directors and officers, according to a study by Willis Group Holdings P.L.C. and law firm Allen & Overy L.L.P.

Generali commercial unit targets medium, large companies

By: Sarah Veysey

Published April 23, 2013 - 9:33am CST

Assicurazioni Generali S.p.A. has established a global corporate and commercial business unit aimed at medium and large companies.

Brit acquires Maiden unit’s renewal rights, underwriting platform

By: Sarah Veysey

Published April 22, 2013 - 9:10am CST

Brit Insurance has acquired the renewal rights and underwriting platform of Maiden Holdings Ltd.’s excess and specialty unit, Brit announced Monday.

Catalina completes $30.2M acquisition of KX Reinsurance from Tawa

By: Sarah Veysey

Published April 17, 2013 - 9:24am CST

Catalina Holdings (Bermuda) Ltd. on Wednesday announced it had completed the acquisition of KX Reinsurance Co. Ltd., which is in runoff, from Tawa P.L.C. for $30.2 million.

London, Hamburg marathons to proceed after security reviews

By: Sarah Veysey

Published April 16, 2013 - 1:41pm CST

The London and Hamburg, Germany, marathons will take place this weekend after additional security reviews, despite the bombings at the Boston Marathon on Monday, organizers of the events said.

London market insurers performed well in 2012: Best

By: Sarah Veysey

Published April 15, 2013 - 9:43am CST

Insurers in the London market performed well during 2012 despite large losses from Superstorm Sandy and a challenging economic environment, according to a report by A.M. Best Co. Inc.

Fracking not a significant earthquake risk: Researchers

By: Mike Tsikoudakis

Published April 12, 2013 - 1:25pm CST

A new study concludes that hydraulic fracturing to obtain natural gas is “not a significant mechanism” in causing earthquakes, but it can reactivate dormant faults.

Ironshore’s syndicate OK’d to underwrite through Lloyd’s Japan

By: Sarah Veysey

Published April 08, 2013 - 10:40am CST

Ironshore Inc.’s Lloyd’s of London syndicate, Pembroke syndicate 4000, has been granted authority by the Japanese Financial Services Authority to underwrite warranties and representation coverage through Lloyd’s Japan.

Cooper Gay Swett & Crawford's Chile move

Published April 08, 2013 - 10:31am CST

London-based brokerage Cooper Gay Swett & Crawford Ltd. on Monday announced that it had taken a 100% shareholding in its Chilean operation, Cooper Gay Chile S.A.

Lloyd's posts 2012 profit, prepares for challenges ahead

By: Sarah Veysey

Published April 07, 2013 - 6:00am CST

Despite substantial catastrophe and disaster losses, Lloyd's of London posted a profit of more than $4 billion last year and officials and observers say the market is ready to face economic and regulatory uncertainties this year.

Lloyd's reveals some concerns over Aon facility

By: Sarah Veysey

Published April 07, 2013 - 6:00am CST

A facility set up by Aon P.L.C. that guarantees Berkshire Hathaway International Insurance Ltd.'s participation on business involving Lloyd's of London underlines the market's importance, said Lloyd's CEO Richard Ward.

Willis acquires indemnity broker Prime Professions

By: Sarah Veysey

Published April 02, 2013 - 9:22am CST

Willis Group Holdings P.L.C. has acquired London-based professional indemnity broker Prime Professions Ltd.

Torus to launch Lloyd's of London managing agency

By: Sarah Veysey

Published April 02, 2013 - 9:16am CST

Torus Insurance Holdings Ltd. has received approval to launch a Lloyd's of London managing agency, Torus Underwriting Management Ltd.