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Willis exec tapped to run JLT Asia

By: Shelby Livingston

Published January 30, 2015 - 12:18pm CST

Jardine Lloyd Thompson Group P.L.C. has named a former Willis Group Holdings P.L.C. executive to lead its Jardine Lloyd Thompson Asia subsidiary, the firm said Friday.

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.

Ace creates cyber risk business unit

By: Shelby Livingston

Published January 29, 2015 - 10:56am CST

Ace Group Holdings Inc. has launched an independent cyber risk business unit to strengthen its local underwriting and risk management capabilities across European markets.

Marsh explains the new reality of risk in the commercial market

By: Mark A. Hofmann

Published January 28, 2015 - 1:25pm CST

The commercial property insurance market appears likely to continue softening in the first quarter of this year, according to the head of Marsh L.L.C.’s property practice.

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.

Brown & Brown profit drops on company's reinsurance exit

By: Matthew Lerner

Published January 27, 2015 - 12:33pm CST

Brown & Brown Inc. reported fourth quarter 2014 net income of $24.6 million, down 47.9% as earnings were hit by a $47.4 million charge as the firm exits its reinsurance brokerage business, the Daytona Beach, Florida-based brokerage said Tuesday.

US Assure names senior vice president of insurance operations

By: Shelby Livingston

Published January 26, 2015 - 3:50pm CST

US Assure Inc., a construction and commercial insurance broker, has promoted Steve Bristow to its executive team as senior vice president of insurance operations.

National General acquires health insurance managing general agent for $15 million

By: Shelby Livingston

Published January 26, 2015 - 2:45pm CST

National General Holdings Corp. on Monday said it has acquired Lombard, Illinois-based health insurance managing general agent Healthcare Solutions Team Inc. for $15 million.

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.

PartnerRe, Axis Capital agree to $11 billion merger

By: Sarah Veysey

Published January 26, 2015 - 9:45am CST

Axis Capital Holdings Ltd. and PartnerRe Ltd. say they will merge to establish a specialty insurer and reinsurer with gross written premiums of more than $10 billion in a nearly $11 billion stock-swap deal.

The 2015 Innovation Awards winners
are …

Published January 23, 2015 - 3:14pm CST

Business Insurance on Friday announced 10 winners of the 2015 Innovation Awards, the publication's recognition program for products and services designed for use by professional risk managers.

Willis promotes executives in China unit

By: Shelby Livingston

Published January 23, 2015 - 1:00pm CST

Willis Group Holdings P.L.C. on Friday said it has promoted three senior executives in its Willis China unit, effective Jan. 26.

International insurance groups promote microinsurance

By: Mark A. Hofmann

Published January 22, 2015 - 1:46pm CST

A group of prominent insurers, reinsurers and brokers on Thursday said it has established a consortium to promote microinsurance ventures in developing countries.

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.

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.

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.

Alliant to buy QBE's U.S. specialty agencies for $300 million

By: Sarah Veysey

Published January 20, 2015 - 9:41am CST

CORRECTION: An earlier version of this article mistakenly reported that QBE Insurance Group Ltd. was selling Southern Insurance Underwriters Inc. In fact, QBE never owned Southern Insurance Underwriters Inc. and is selling a completely different company, Glendale, California-based SIU L.L.C., which does business as SIU Managers. Southern Insurance Underwriters Inc., which is owned and managed by...

HIIG acquires Elite Underwriting Services

By: Shelby Livingston

Published January 16, 2015 - 11:05am CST

Houston International Insurance Group Ltd. has acquired Malvern, Pennsylvania-based Elite Underwriting Services.

Secura Insurance promotes Dominick Mongarella to director of risk management

By: Shelby Livingston

Published January 16, 2015 - 10:51am CST

Appleton, Wisconsin-based Secura Insurance Cos. has promoted Dominick Mongarella to director of risk management.

Jockey accident medical coverage for racetracks launched

By: Shelby Livingston

Published January 15, 2015 - 2:44pm CST

The National Thoroughbred Racing Association, Lockton Cos. L.L.C., and Burns & Wilcox Brokerage have launched a jockey accident medical coverage for racetracks.

Burns & Wilcox Canada acquires Avec Insurance Managers

By: Shelby Livingston

Published January 15, 2015 - 10:07am CST

Managing general agent Burns & Wilcox Canada Inc., a unit of Kaufman Financial Group, has acquired Toronto-based MGA Avec Insurance Managers Inc.

ILS issuance could break last year's record in 2015: Willis

By: Matthew Lerner

Published January 15, 2015 - 9:41am CST

This could be another record year for insurance-linked securities issuance after a record setting 2014 for non-life catastrophe bonds, according to a new report from Willis Capital Market & Advisory.

Business interruption, natural catastrophes top risk manager concerns

By: Bill Kenealy

Published January 14, 2015 - 3:07pm CST

Business interruption risks and natural catastrophes are top concerns of risk managers in 2015, according to a study released on Wednesday by Allianz Global Corporate & Specialty S.E.

Global Aerospace president and COO to step down

By: Shelby Livingston

Published January 14, 2015 - 3:06pm CST

The president and chief operating officer of aerospace insurance provider Global Aerospace Inc., Jeffrey Cassidy, will step down April 1, the company said.

Insurer CEOs say success depends on smart risk selection

By: Gavin Souter

Published January 14, 2015 - 11:39am CST

NEW YORK — Increased capacity in the property/casualty market is putting more pressure on insurers and reinsurers, and they will need to adapt their operating strategies in order to succeed, a group of senior executives from across the sector said.

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