Agents & Brokers News

U.K.’s Towergate Creditors to Take Over Company in Debt Restructuring

Towergate Finance plc said it reached an agreement with creditors to restructure more than 1 billion pounds ($1.5 billion) of debt in exchange for control of the company. The deal will cut the insurance broker’s net obligations by more than …

Jardine Lloyd Thompson Announces Senior Employee Benefit Appointments

London-based Jardine Lloyd Thompson Group plc announced several senior management appointments within its UK Employee Benefits business and JLT Asia. These appointments are subject to obtaining the appropriate regulatory approvals, where required. Mark Wood is retiring from his role as the CEO …

Towergate Creditors Seeking Takeover With $1 Billion Debt Swap

Towergate Finance Plc’s creditors are offering to cancel 715 million pounds ($1 billion) of debt in exchange for control of Europe’s largest insurance broker. The company’s senior secured creditors also propose writing off the accrued interest, according to a statement from Moelis …

ACE Launches Middle Market Insurance Solution for Continental Europe

ACE Group has launched ACE Middle Market Solutions, an enhanced proposition for brokers and clients, designed to help continue building its position in the middle market segment in key Continental Europe insurance markets. The launch follows ACE’s research during 2014, …

A.M. Best: Reinsurers Need Underwriting Discipline in Competitive Market

Increasing competition and lower underwriting margins in the reinsurance market highlights the importance of disciplined underwriting, according to an A.M. Best briefing entitled “Global Reinsurers: Who Will Gain Despite All the Pain?” “The market is expected to remain challenging in …

Paris Terror Attacks Not Unexpected; Demand for Political Risk Cover Is Up

Terrorism, security and political risk experts from Willis provided some broad observations about last week’s terror attacks in Paris and how insurance buyers are responding. “The tragic events in Paris are a continuation of a pattern that has been proliferating …

Canada’s Cowan Insurance Group Acquires The Williamson Group

Cowan Insurance Group, a Canadian insurance brokerage and consulting operation, has acquired The Williamson Group, a financial services company focused on providing employer sponsored benefits, pensions and disability management programs, as well as individual financial services. Terms of the acquisition …

Most Popular Insurance Journal South Central Stories of 2014

Fraud, higher homeowners rates, fracking, and electronic traffic tickets are topics that drove readers to the following stories on InsuranceJournal.com in 2014. The following 10 stories led as the most popular picks by readers in the South Central region. Workers’ …

Arocha to Lead Cooper Gay’s Business Production in Venezuela

Cooper Gay Swett & Crawford (CGSC), the global reinsurance, wholesale and specialty broker, has appointed Rafael Arocha as head of Cooper Gay’s business production in Venezuela with immediate effect. He is based at Cooper Gay’s regional headquarters in Miami and report …

V3 Partners Adds Berkshire’s National Liability to Online Workers’ Comp Program

V3 Insurance Partners LLC  has enhanced its workers’ compensation program, adding National Liability & Fire Insurance Co., a Berkshire Hathaway Group company, as a new market. Now available in additional states with more class codes, V3iConnect Comp – a web-based …