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Hiscox acquires book of K&R business from Aon


HAMILTON, Bermuda—Hiscox Ltd. has acquired a portfolio of kidnap and ransom business from Aon Ltd., the London-based arm of Aon Corp.

The business, which Hiscox said it largely underwrites, principally comprises Latin American risks from third-party intermediaries.

Terms of the deal were not disclosed, but existing staff and systems will be transferred to Hiscox, the company said in a statement.