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Willis sells Scottish business to Clark Thomson

By: Mark A. Hofmann

Published January 29, 2015 - 11:04am CST

Clark Thomson Insurance Brokers Ltd. will acquire Willis Group Holdings P.L.C.’s commercial business unit in Scotland, Willis and Clark Thomson announced Thursday.

Willis helps launch political risk model for foreign investments

By: Sarah Veysey

Published January 28, 2015 - 10:00am CST

A risk model launched Wednesday by Willis Group Holdings P.L.C. and consulting firm Oxford Analytica enables companies to assess and compare the financial implications of exposure to six different political risk perils across 11 industry types in 100 countries, according to a joint statement from the companies.

Secret pot farm harshes fraudster's mellow

Published January 28, 2015 - 9:23am CST

A penchant for insurance fraud has helped nip a man's marijuana growing operation in the bud.

Oppenheimer to pay $20M over improper stock sales

Published January 27, 2015 - 10:46am CST

(Reuters) — Oppenheimer & Co. will pay $20 million to settle two U.S. government cases stemming from allegations the firm improperly sold penny stocks and ignored red flags.

Guy Carpenter named retrocession reinsurance broker for Flood Re

By: Sarah Veysey

Published January 26, 2015 - 9:57am CST

Guy Carpenter & Co. L.L.C. has been named the retrocession reinsurance brokerage for Flood Re, the reinsurance fund intended to offer coverage to homes in the United Kingdom that are the most vulnerable to flooding.

Bank of England calls for lenders to shore up cyber defenses

Published January 23, 2015 - 12:21pm CST

(Reuters) — Britain's banks must do more to protect themselves and the wider financial system from growing and evolving cyber crime, the Bank of England said Friday.

Willis, Miller to form specialty wholesale broker in London

By: Matthew Lerner

Published January 22, 2015 - 11:15am CST

Willis Group Holdings P.L.C. and Miller Insurance Services L.L.P. have reached an agreement to combine their respective wholesale businesses to form a London-based specialty wholesale insurance broking firm, Willis said Thursday.

U.K. insurer capital won't rise under Solvency II rules

Published January 22, 2015 - 9:37am CST

(Reuters) — European Union rules to keep insurance companies stable will not be an excuse for regulators to ramp up capital requirements for insurers in Britain, a senior Bank of England official said Thursday.

AIG to acquire Irish health insurer

By: Matthew Lerner

Published January 21, 2015 - 3:06pm CST

American International Group Inc. on Wednesday said it is acquiring Cork, Ireland-based health insurer Laya Healthcare Ltd.

Guernsey insurance regulator licensed 85 new insurers in 2014

By: Sarah Veysey

Published January 21, 2015 - 8:47am CST

The Guernsey Financial Services Commission, the island’s insurance regulator, on Wednesday said it licensed 85 new international insurers during 2014.

Capsicum Reinsurance Brokers appoints partner to lead facultative division

By: Sarah Veysey

Published January 21, 2015 - 8:40am CST

Malcolm Payton has been appointed partner and head of the facultative division at reinsurance brokerage Capsicum Reinsurance Brokers L.L.P.

Insurers prepared for international regulatory changes: Fitch

By: Sarah Veysey

Published January 20, 2015 - 12:40pm CST

The implementation of Solvency II capital requirements and other international regulatory changes is unlikely to hurt the financial strength ratings of insurers, Fitch Ratings Ltd. said in a report issued Tuesday.

Willis names Phil Smaje to lead U.K. broking strategy

By: Sarah Veysey

Published January 20, 2015 - 9:48am CST

Phil Smaje on Tuesday was named to the newly created role of chief broking officer for Willis GB, the unit of Willis Group Holdings P.L.C. that includes its U.K. retail insurance, facultative and London specialty businesses.

Talent retention will be a key challenge in XL, Catlin merger

By: Sarah Veysey And Mark A. Hofmann

Published January 18, 2015 - 6:00am CST

The need to retain key staff members and the business they generate will be a key challenge in the merger of XL Group P.L.C. and Catlin Group Ltd.

XL, Catlin merger prompts series of executive changes

By: Sarah Veysey

Published January 18, 2015 - 6:00am CST

A series of executive changes are expected following the merger of XL Group P.L.C. and Catlin Group Ltd.

British police arrest man over Christmas Xbox, Playstation hacks

Published January 16, 2015 - 10:40am CST

(Reuters) — British police said on Friday they had arrested a man in northwest England following the 2014 cyber attacks on Sony PlayStation and Microsoft Xbox systems.

Hiscox acquires MGA and high-end insurer

By: Sarah Veysey

Published January 14, 2015 - 9:27am CST

Hiscox Ltd. said Wednesday it had reached a preliminary agreement to acquire a managing general agent and a high-net-worth insurance company from Randall & Quilter Investment Holdings Ltd.

Canopius division to focus on renewable energy

By: Shelby Livingston

Published January 09, 2015 - 12:24pm CST

Canopius Group Ltd., the London-based insurance and reinsurance platform of Sompo Japan Nipponkoa Insurance Inc., has launched an Amsterdam-based renewable energy division.

XL to write nearly a tenth of Lloyd's business after Catlin buyout

Published January 09, 2015 - 9:45am CST

(Reuters) - XL Group P.L.C. said it would buy underwriter Catlin Group Ltd. for about 2.79 billion pounds ($4.28 billion), increasing the Dublin-based insurer's share of business written in the Lloyd's of London market to nearly 10%.

Acappella launches as insurance holdings company

By: Sarah Veysey

Published January 06, 2015 - 9:49am CST

Acappella Group Holdings Ltd. on Tuesday said it has launched as an insurance holdings company that will operate a managing general agency business and a fund management company.

Brit launches special purpose reinsurer

By: Matthew Lerner

Published January 05, 2015 - 10:58am CST

Brit P.L.C. has created a special purpose reinsurer to provide collateralized supports for the carrier's 2015 property treaty portfolio, Brit announced Monday.

Gard leads insurance coverage for ship grounded off the coast of England

By: Sarah Veysey

Published January 05, 2015 - 9:27am CST

Gard P&I (Bermuda) Ltd. is the protection and indemnity insurer for a ship carrying automobiles that was deliberately run aground off the south coast of England by its captain after developing a severe list.

UP CLOSE: Jonathan Morgan

Published January 04, 2015 - 6:00am CST

LONDON-BASED BUSINESS DEVELOPMENT MANAGER

Windstorm Dirk insured loss estimate upped to $513.6M: Perils

By: Sarah Veysey

Published December 23, 2014 - 9:18am CST

Windstorm Dirk, which affected parts of the United Kingdom and France Dec. 23-25, 2013, caused insured property losses of €420 million ($513.6 million), according to Zurich-based catastrophe loss data company Perils A.G.

Barbican gets OK for special purpose Lloyd's syndicate

By: Sarah Veysey

Published December 22, 2014 - 9:22am CST

Barbican Insurance Group has received approval to set up a special purpose syndicate at Lloyd's of London.

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