Accredited Insurance to acquire insurance subsidiary of MPS in run-off
Accredited Insurance (Europe) - formerly R&Q Insurance (Malta), the wholly owned European insurance subsidiary of Randall & Quilter Investment Holdings - has agreed to acquire the enter issued share capital of MPS Risk Solutions (MPSRS) from its owners The Medical Protection Society.
Marsh to acquire JLT Group for $6.4bn
Marsh & McLennan Companies (MMC) has agreed to acquire JLT Group for $6.4 billion, expected to close in Spring 2019.
Nexus acquires Labuan-based Huntington Underwriting
Nexus Group, a specialty managing general agent (MGA), has acquired Huntington Underwriting (HUL), a structured solutions underwriting manager operating out of Labuan International Business and Financial Centre, Malaysia.
Legal & General completes £4.4bn British Airways pension scheme buy-in
UK financial services company Legal & General has completed a £4.4 billion buy-in for British Airways' pension scheme, Airway Pension Scheme, marking the largest to date bulk annuity policy arranged with a UK pension scheme, which also included the conversion of existing longevity insurance into a bulk annuity.
Moody’s captive under fire for tax fraud from whistleblower
Moody’s Corporation, the holding company for rating agency Moody’s Investors Service, is facing allegations from a former employee who has claimed that Moody’s and its advisors defrauded New York State of potentially millions of dollars of tax revenues, with it’s captive Moody’s Assurance Company (MAC) accused of underpaying the state.
Aon to offer capital optimisation for captives
Aon Risk Solutions has launched a capital advisory unit designed to assist re/insurers, Lloyd's syndicates and captive insurance companies with their capital optimisation.
Willis Towers Watson appoints Hawaii captive exec
Willis Towers Watson has appointed Denys Kazama as senior account executive of its Global Captive Practice, with responsibility over clients with captives domiciled in Hawaii.
Atlanta captive manager River Oak Risk appoints VP
River Oak Risk, a captive management firm headquartered in Atlanta, Georgia, has appointed Jay Florence as vice president.
R&Q restructures US and European programme management businesses
R&Q Investment Holdings is a forming a new division, Accredited, which comprises its US and European programme management businesses.
Vermont’s ARCs will help firms avoid BEAT and enhance domicile: AM Best
Vermont’s recently introduced captive structures, affiliated reinsurance companies (ARCs), will likely enhance the domicile’s standing in the captive industry, according to an AM Best briefing.
