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Willis Corroon Japan Ltd. has become the first registered international insurance broker in Japan after last year's revision to the Japanese Insurance Industry Law, which allowed brokers to start operating in the country. . . .Stan dard & Poor's in London has affirmed its AAA claims-paying ability rating for German reinsurer Bayerische Ruckversicherung A.G., based on its strong market position, steady operating performance, superior capitalization and relatio nship with parent Swiss Re Group. However, S&P said Bavarian Re will face increased price competition in Germany after the deregulation of the domestic insurance market. . . .Roger Taylor, executive deputy chairman of Royal & Sun A lliance Insurance Group P.L.C., has been named chairman of the Assn. of British Insurers, starting July 1. His appointment is subject to approval by ABI members at the association's annual general meeting. Sandy Leitch, chief execu tive of British American Financial Services Ltd., and Albert Mills, group director of U.K. general insurance and direct operations at Norwich Union, will become deputy chairmen of the ABI at the same time. . . .Chicago-based Aon Corp.'s takeover of London broker Bain Hogg Group P.L.C. has been given clearance by the U.K. Department of Trade and Industry, following the decision by the Director General of Fair Trading not to refer the deal to the Monopolies an d Mergers Commission . . . .Bermuda-based Mutual Risk Management Ltd. and insurance manager Wilde & Co. Group have entered into a joint venture to set up a new Guernsey branch of Mutual Indemnity (Bermuda) Ltd. and a new captive ma nagement company, Mutual Risk Management (Guernsey) Ltd. Guernsey regulators passed legislation Feb. 1 permitting rent-a-captives in the domicile. . . .Royal & Sun Alliance Insurance Group P.L.C. plans to expand its presence in Spa in by buying Bank Argentaria's portfolio of business from the bank's insurance subsidiary, Hercules Hispano. RSA estimates premium volume from the business at 18 billion pesetas ($128.6 million) in 1996 and will pay no more than (British pounds) 20 million ($32.4 million). The deal is awaiting regulatory approval. . . .Ivo Furrer has been promoted to senior vp of Winterthur Swiss Insurance Co. in London. . . .London broker FirstCity Insurance Brokers Ltd. has acquired a new specialist reinsurance broking team from Minet Ltd. Minet's parent, The St. Paul Cos. Inc. is currently negotiating its sale to New York broker Marsh & McLennan Inc. The team of four, headed by Bob Jones, has been developing new insurance products for Lloyd's of London corporate capital providers.