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“We are not about to let [the] delay…compromise the deal”, says Latham & Watkins lawyer Dan Wall. -
The parties will likely look to deliver a carve-out of large P&C and health benefits broking in the US to target a DoJ settlement.
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Plus, a detailed look at the FCA’s BI claims data and all the most popular news from this week.
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Inside P&C gives a blow-by-blow account of the regulator's antitrust complaint against the mega deal.
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The broking houses also said they "remain fully committed to the benefits of [their] proposed combination".
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The move from the US regulator represents the biggest threat to the mega-merger since it was announced in March last year.
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The PRA’s executive director for insurance has outlined the scope of a market study and consultation that will ultimately reform and simplify the Solvency II regime.
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Hiscox leads with the largest number of accepted claims and interim payments, while MS Amlin lags on payment of data-supported claims.
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The news marks the second year in a row members have ceded more than $1bn in risk to the Caribbean Catastrophe Risk Insurance Facility.
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Senior executives on the island saw the coordinated initiative as a clear long-term threat, but one that is mitigated by various other attractions of operating in Bermuda.
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The US Department of Justice’s antitrust concerns around the Aon-Willis merger have not been fully addressed by the brokers’ recent spate of divestment plans.
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The new law limits insurer liabilities for attorney fee suits against insurers and reduces time limits for claims.
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