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Marsh & McLennan opens data analytics center in Ireland

By: Mark A. Hofmann

Published May 28, 2015 - 12:30pm CST

Marsh & McLennan Cos. Inc. has opened the Marsh & McLennan Innovation Center in Dublin, the company announced Thursday.

Gallagher's international growth sparks U.K. financial inquiry

By: Matthew Lerner

Published May 26, 2015 - 2:02pm CST

Arthur J. Gallagher, the London-based international operations of broker Arthur J. Gallagher & Co., has acknowledged it is cooperating with Britain’s Financial Conduct Authority on a report about the firm’s operations.

London sets up catastrophe bond task force

Published May 26, 2015 - 9:47am CST

(Reuters) — Britain has created an expert group to put forward proposals on how the country can become a center for catastrophe bonds, used by insurers as a hedge against disasters and other costly events from hurricanes to lottery jackpots.

Lloyd's of London wary of market aggregation of cyber risk

By: Sarah Veysey

Published May 24, 2015 - 6:00am CST

Lloyd's of London is taking steps to ensure it avoids a “dangerous aggregation” of insurance related to cyber risks while uncertainty remains about potential fallout should there be a catastrophic cyber attack.

Amlin first-quarter reinsurance renewals dip

By: Judy Greenwald

Published May 21, 2015 - 2:03pm CST

Competition within reinsurance lines remains challenging, with reinsurance renewal rates overall decreasing by 6.3% in the first quarter, Amlin P.L.C. said Thursday in an interim management statement.

Lloyd's consortium to cover renewable energy industry

By: Shelby Livingston

Published May 21, 2015 - 1:03pm CST

Lloyd’s of London company Ascot Underwriting Ltd. has joined Chaucer P.L.C. and Assuranceforeningen Skuld to form the Renewco Consortium, an underwriting platform for the renewable energy industry.

Firms to face stiffer fines for breaking E.U. 'right to be forgotten' rules

Published May 21, 2015 - 10:52am CST

(Reuters) — Firms such as Google Inc. and Microsoft Corp. will face stiffer fines if they violate Europe’s “right to be forgotten” online rules, according to a draft text agreed by European Union ambassadors on Wednesday, diplomatic sources said.

Pool Re modernization efforts on track

By: Sarah Veysey

Published May 12, 2015 - 9:45am CST

Pool Reinsurance Co. Ltd., the U.K. government-backed terrorism reinsurance backstop, Tuesday announced details of a series of modernization proposals that will take effect in October.

Fish oil firm fights FDA for off-label use

By: Stephanie Goldberg

Published May 11, 2015 - 2:47pm CST

A biopharmaceutical company has sued the U.S. Food and Drug Administration in federal court for the right to market its fish oil pill for off-label use.

March European windstorm damage estimated at $955.5 million

By: Sarah Veysey

Published May 11, 2015 - 9:56am CST

Perils A.G. on Monday issued an initial loss estimate for insured property damage caused by windstorms Mike and Niklas of €853 million ($955.5 million).

U.S. specialty lines boost Beazley premiums

By: Sheena Harrison

Published May 07, 2015 - 4:51pm CST

Premiums increased 5.8% for Dublin-based insurer and reinsurer Beazley P.L.C., driven largely by the company’s specialty line growth, the company said in an interim statement.

RSA buoyed by net premium boost as low rates, forex bite

Published May 07, 2015 - 8:38am CST

(Reuters) — British insurer RSA Insurance Group P.L.C. posted a 1% year-on-year rise in net written premiums in the first quarter, more than offsetting the impact of adverse interest rate and currency moves, and boosting its shares.

Tokio Marine launches drones coverage at Lloyd's

By: Shelby Livingston

Published May 05, 2015 - 3:02pm CST

Tokio Marine Kiln Group Ltd. will now offer coverage for unmanned aerial systems, or drones, in the Lloyd’s of London market, the insurer said Tuesday.

Global specialty insurer expands aviation coverage to U.S.

By: Shelby Livingston

Published May 05, 2015 - 11:27am CST

Global specialty insurer Torus Insurance Holdings Ltd. has partnered with Seattle-based managing general agent London Aviation Underwriters Inc. to write general aviation insurance in the United States.

$4.28 billion merger of XL and Catlin wraps

By: Matthew Lerner and Sarah Veysey

Published May 01, 2015 - 10:16am CST

XL Group P.L.C. has completed its $4.28 billion acquisition of Catlin Group Ltd., Dublin-based XL said Friday.

XL optimistic amid dropped quarterly income, possible billion-dollar merger

By: Bill Kenealy

Published April 30, 2015 - 1:59pm CST

Hours away from a transaction closing that will reshape the company, Dublin-based XL Group P.L.C. reported weaker first quarter financial data on Wednesday.

Willis revenues down despite organic growth

By: Matt Dunning

Published April 29, 2015 - 2:53pm CST

Willis Group Holdings P.L.C. saw modest declines in total revenue and profits in the first quarter of 2015, despite positive organic growth in all four of its operating segments.

Willis takes fast risk with supersonic car

Published April 29, 2015 - 2:01pm CST

As one of the world's largest insurance brokers, Willis Group Holdings P.L.C. doesn't seem to be afraid of some four-wheeled thrills.

Lloyd's syndicates balloon as buyers seek bigger partners

By: Sarah Veysey

Published April 26, 2015 - 6:00am CST

The recent uptick in mergers and acquisitions of Lloyd's of London business is resulting in syndicates that are very large by the market's historical standards.

Q&A: Grahame Chilton, Arthur J. Gallagher

Published April 26, 2015 - 6:00am CST

Grahame Chilton was named CEO of Arthur J. Gallagher's international operations in February, a role that will take effect after all regulatory approvals are in place. His career spans more than 30 years. In 2013 he founded specialist reinsurance broker Capsicum Re, a joint-venture with Gallagher. He previously was chairman of Aon Benfield Group Ltd., having overseen the sale of Benfield Group Ltd....

Risk manager reflections, Part 1: Captives prove invaluable risk management tool

By: Alan Fleming

Published April 24, 2015 - 12:26pm CST

Captive insurance companies provide their owners with much more than tax advantages and insurance capacity. Long-time risk manager Alan Fleming reflects on how the use of captives has evolved over the course of his career.

Risk manager reflections, Part 2: Captives evolve as catastrophe risks grow

By: Alan Fleming

Published April 24, 2015 - 12:17pm CST

In the second of two articles looking at the development of captive insurers, long-time risk management expert Alan Fleming reflects on recent captive innovations he was involved with.

Willis launches claims practice addressing large-scale disasters

By: Matthew Lerner

Published April 22, 2015 - 1:37pm CST

Willis Group Holdings P.L.C. on Wednesday said it has created a forensic accounting and complex claims practice to aid recovery efforts across a wide range of disciplines after large-scale disasters.

International insurer's founding CEO resigns

By: Sarah Veysey

Published April 21, 2015 - 9:49am CST

R. Matthew Fairfield has stepped down as CEO of ANV Holdings B.V., effective immediately, the Amsterdam-based specialty insurer announced.

Europe's March windstorm could blow in $1.6 billion in insured losses

By: Sarah Veysey

Published April 20, 2015 - 9:53am CST

Insured property losses from Windstorm Niklas that hit Europe in March will be between €750 million ($810.5 million) and €1.5 billion, ($1.62 billion) according to catastrophe modeler Risk Management Solutions Inc.

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