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$1B Bond Sale to Bolster Florida’s Citizens ‘Just In Case’

Florida hasn’t been hit by a hurricane since 2005, the longest stretch in more than a century. Its state-run property insurer isn’t taking any chances. Even though forecasters predict this year will produce the fewest named Atlantic storms since 1997, …

U.K.’s EC3\Legal Appoints Schrauwers as Chairman

London-based EC3\Legal* has announced that highly respected insurance industry figure, Cees Schrauwers, has joined the company as chairman. Schrauwers, who has more than 35 years’ financial services experience, is a former managing director of Aviva International and managing director of …

Judge Upholds GM Liability Shield from Some Ignition Claims

General Motors Co. will not have to face dozens of lawsuits accusing it of concealing an ignition-switch defect that led to the recall of 2.6 million vehicles, a U.S. bankruptcy judge ruled on Wednesday. GM had argued it was protected …

Walkiewicz and Guo Appointed Willis Capital Markets & Advisory Co-CEOs

Willis Group Holdings has confirmed Rafal Walkiewicz and Michael Guo as co-CEOs to lead Willis Capital Markets & Advisory (WCMA), the firm’s insurance investment banking business. They will succeed Tony Ursano, who has led WCMA since 2009. “WCMA advises clients …

Brokerslink Restructures Board to Drive New Global Growth

Independent insurance broker network Brokerslink announced that it has “restructured its Board of Directors to drive growth and revenue generation following its change from a not-for-profit association to a for-profit global broking company.” The group’s premiums and consulting fees are …

Willis Names Peller Fine Art, Jewelry and Specie Global CEO

Willis Group Holdings announced the appointment, effective immediately, of Seth Peller as Global CEO of its Fine Art, Jewelry and Specie (FAJS) division. From his base in London, Peller will lead FAJS teams in the UK, US and worldwide. “He …

Reid to Become CEO of U.K. Retail at Arthur J. Gallagher

Arthur J. Gallagher announced that Stuart Reid will join Arthur J. Gallagher’s international brokerage operation as CEO for U.K. Retail. Reid will take up the position at Arthur J. Gallagher later this year, subject to regulatory approval, and will use …

Catastrophe Bond Issuance Breaks New Q1 Record: Aon Benfield Report

Catastrophe bond issuance for the first quarter reached a record $1.7 billion – higher than any other first quarter issuance in the history of the insurance linked securities sector (ILS), according to a report published by Aon Benfield Securities, the …

Validus Reaseguros Promotes Salamanca in Miami Office

Validus Reaseguros, Inc. (VRI), a part of Validus Reinsurance, Ltd. focused on the Latin American and Caribbean markets, has promoted Alejandro Salamanca in its Miami office. Salamanca, currently an underwriter in the Miami office working in the Treaty Department, has …

K&K Insurance Launches Off-Track Coverage for Motorsports

K&K Insurance Group, Inc., a subsidiary of Aon plc has launched a new program offering off-track physical damage coverage for competition vehicles via the web. The program, accessible through K&K’s newest insurance website, www.motorsportsinsurance-kk.com, provides agents with the ability to …

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