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Lloyd's of London applies to open up in Malaysia

Published July 30, 2015 - 8:28am CST

(Reuters) — Lloyd's of London said on Thursday it planned to apply for an onshore reinsurance license and open an office in Malaysia, as part of its push into emerging markets.

Jardine Lloyd Thompson sees 6% hike in first-half revenue

By: Sarah Veysey

Published July 28, 2015 - 9:37am CST

Jardine Lloyd Thompson Group P.L.C. posted revenue of £591.6 million ($917.6 million) for the first six months of 2015, a 6.0% increase compared with the first half of last year, the London-based brokerage said Tuesday.

Zurich mulls offer for RSA Insurance

By: Sarah Veysey

Published July 28, 2015 - 9:15am CST

Zurich Insurance Group Ltd. said Tuesday it is evaluating a potential offer for London-based multiline insurer RSA Insurance Group P.L.C.

Positive Beazley earnings continue in first half of 2015

By: Donna Mahoney

Published July 24, 2015 - 3:16pm CST

Beazley P.L.C. on Friday announced that premiums generated in the first half of 2015 by its U.S. underwriters rose 25% over the same period last year, driving the company’s interim results.

Fake pet claims land couple behind bars

Published July 24, 2015 - 10:31am CST

Accountant Chelsea Stafford and her husband Stellio submitted nine claims on two pet insurance policies, collecting $12,970 dollars for their three sick Staffordshire bull terriers, according to British media reports.

London insurance market to hold fall diversity festival

By: Sarah Veysey

Published July 21, 2015 - 9:42am CST

The London insurance market will host a diversity and inclusion festival Sept. 29 through Oct. 2 to encourage businesses to understand the business case for increasing the diversity of the industry, said Matthew Fosh, CEO of London-based Novae Group P.L.C. on Tuesday.

Tweets trip up bragging footballer’s injury claim

Published July 17, 2015 - 2:03pm CST

A semi-pro soccer player in Northwest England is ordered to pay back more than £11,000 ($17,069) after his tweets proved he made a dishonest personal injury claim, according to media reports.

Willis names Europe lead for insurance investment unit

By: Sarah Veysey

Published July 15, 2015 - 9:06am CST

Brian Shea has been appointed head of Europe for Willis Capital Markets & Advisory, the insurance investment banking division of Willis Group Holdings P.L.C.

Axa secures $4.3 billion longevity swap with pension fund

By: Sophie Baker, Pensions & Investments

Published July 13, 2015 - 1:15pm CST

Axa U.K. Group Pension Scheme, London, completed a £2.8 billion ($4.4 billion) longevity swap with Reinsurance Group of America for the defined benefit section of its retirement plans.

U.K. regulator says capital levels at insurers 'appropriate'

Published July 09, 2015 - 12:39pm CST

(Reuters) — Britain will not use new European Union insurance rules to force the sector to top up on capital, but some companies will need a lengthy grace period to increase their safety buffers, the country’s top insurance regulator said on Thursday.

30 years later, Bermuda startups again take center stage

By: Judy Greenwald

Published July 07, 2015 - 11:18am CST

Ace Ltd., which announced its purchase of Chubb Corp. earlier this month, and XL Group P.L.C., which acquired Catlin Group Ltd. in May, emerged from the mid-1980's capacity crisis and since have risen to become industry powerhouses.

U.K. watchdog to investigate conduct at insurer's Irish arm

Published July 07, 2015 - 8:27am CST

(Reuters) — Britain's accounting watchdog said it would investigate the conduct of individuals who worked for RSA Insurance Ireland in the run-up to its bailout by its British parent.

Loss adjuster acquires U.K. property and liability adjuster

By: Joyce Famakinwa

Published July 06, 2015 - 11:21am CST

Specialist loss adjuster VRS VeriClaim Inc., a wholly owned subsidiary of Sedgwick Claims Management Services Inc., said it has acquired Leeds, England-based specialist property and liability loss adjusting company Certo.

Willis, Towers Watson combine forces to face new era

By: Sarah Veysey and Mark A. Hofmann

Published July 05, 2015 - 6:00am CST

Willis Group Holdings P.L.C. and Towers Watson & Co. are betting that a merger of near-equals will set up a broker consultant entity that's greater than the sum of its parts.

UP CLOSE: Carl L. Bach III

Published July 05, 2015 - 6:00am CST


Nestle to close U.K. pension plan

By: Timothy Pollard, Pensions & Investments

Published July 02, 2015 - 9:26am CST

Nestle U.K. announced Thursday it would close its defined benefit pension scheme, replacing it with a defined contribution plan.

Irish financial adviser's fraud scheme runs out of luck

Published July 01, 2015 - 11:30am CST

The luck of the Irish ran out last week for a financial adviser who admitted to fraudulently creating fictitious life insurance policies for nonexistent clients.

High expectations for Willis, Towers Watson merger

By: Mark A. Hofmann & Matthew Lerner

Published June 30, 2015 - 2:49pm CST

Market analysts gave a general thumbs up to the proposed merger of Willis Group Holdings P.L.C. and Towers Watson & Co. announced Tuesday.

By the Numbers: Willis-Towers Watson merger

Published June 30, 2015 - 2:26pm CST

By the end of 2015, Willis Group Holdings P.L.C. will merge with human resources consultancy Towers Watson & Co. to form a company valued at about $18 billion.

Broker expands in Brazil with acquisition

By: Donna Mahoney

Published June 30, 2015 - 11:34am CST

London-based broker Cooper Gay Swett & Crawford's Brazil-based unit, Swett & Crawford Brasil, announced Tuesday it purchased 51% of the shares of broker Casa do Corretor based in the state of Goiás and the Federal District.

Willis, Towers Watson merger expands benefits reach

By: Sarah Veysey

Published June 30, 2015 - 11:31am CST

Willis Group Holdings P.L.C. and Towers Watson & Co.'s proposed $18 billion merger of equals announced Tuesday will benefit both companies, the management of both broker consultants said.

Willis, Towers Watson to merge in all-stock deal

By: Sarah Veysey

Published June 30, 2015 - 7:29am CST

Willis Group Holdings P.L.C. and Towers Watson & Co. have agreed to merge in a deal valued at about $18 billion, the companies announced Tuesday.

European windstorm insured losses up to nearly $1 billion

By: Sarah Veysey

Published June 29, 2015 - 9:31am CST

Windstorm Mike-Niklas caused about €895 million ($999.45 million) in insured property losses when it struck parts of Western and Central Europe in late March and early April, according to catastrophe data firm Perils A.G.

Willis exec jumps ship to rival broker

By: Sarah Veysey

Published June 29, 2015 - 9:16am CST

Steve Hearn has been named global CEO of London-based brokerage Cooper Gay Swett & Crawford Ltd. effective Nov. 2, the company announced Monday.

Top London underwriters named

By: Sarah Veysey

Published June 24, 2015 - 9:22am CST

Dominick Hoare, an energy underwriter at Watkins syndicate 457, and Mark Pepper, a reinsurance underwriter at Ascot Underwriting Ltd., have been voted the leading underwriters in the London insurance market.

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