Willis in $139mn PA LMX settlement
Willis will pay $139mn to settle part of a longstanding dispute
arising from its involvement in the infamous London market personal
accident (PA) reinsurance spiral of the late 1990s - which affected
coverholders for London (re)insurer Sphere Drake and claimed
specialist broker Stirling Cooke Brown (SCB) as a prominent
casualty.
In a 8-K SEC regulatory filing, the broker announced that it has
entered into a settlement agreement with two subsidiaries of US
insurer Assurant - American Reliable Insurance Company (ARIC)...
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