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Shareholders approved the merger between Lowndes Lambert Group Holdings P.L.C. and Fenchurch Insurance Brokers Ltd. late Friday (BI, Jan. 20). The new company, Lambert Fenchurch Group P.L.C., will begin doing business today. . . .Willis Corroon Corp. has named P. Richard Hackenburg chief executive officer of its new Risk Management Services national practice group, effective March 15. Mr. Hackenburg, currently president of the broker's Advanced Risk Management Services Division in Nashville, Tenn., will relocate to New York. . . .The Illinois Legislature is considering a bill that would require state-regulated health insurers to offer significantly broader mental health benefits, including policy terms and conditions, comparable to those available for physical ailments. A recent federal law, which takes effect next year for ERISA-regulated plans, requires that health care payers providing mental health coverage must have equal annual and lifetime payment limits for mental and physical illnesses. . . .Hartford Group Inc. said last week its wholly owned subsidiary, Hartford Life Inc., has filed a registration statement with the Securities and Exchange Commission for an initial public offering of up to 20% of its common stock. Hartford Life writes group disability products as well as individual annuities. . . .Stockholders of Rancho Cordova, Calif.-based Foundation Health Corp. and Woodland Hills, Calif.-based Health Systems International Inc. approved the companies' planned $3 billion merger last week (BI, Oct. 7, 1996). A date has not been set for the close of the transaction, which will follow regulatory approvals. . . .Lincolnshire, Ill.-based Hewitt Associates L.L.C. is planning a benefits outsourcing center near Orlando, Fla., its third such facility. The center will serve large employers, and the company expects 1,000 jobs to be created in the next five years. . . .Lloyd's of London authorities are considering a proposal to allow captives to operate within the market. Changes in U.K. legislation governing the taxation of offshore operations and the introduction of syndicates with one corporate owner make Lloyd's-based captives a viable alternative for U.K. businesses. . . Houston-based American General Corp. last week offered $1.8 billion in stock to buy rival insurer USLife Corp. of New York. . . .The New York State Court of Appeals has ruled that plaintiffs in toxic tort litigation have three years to bring suit from the time their injury is discovered. That decision could reduce the number of toxic tort cases in New York, defense attorneys say.