Tysers
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The MSC Aries was seized on Saturday by the Islamic Revolutionary Guard Corps. -
WTW and Tysers collaborated with PPL to design and implement the pilot.
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The broker’s $47bn DoJ fine had “no material impact” on profits.
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The 200-year-old firm is not the only one to be caught up in watchdogs’ investigations into corruption and bribery controls.
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The DoJ also hit rival reinsurance broker Tysers with a $36mn penalty and administrative forfeiture of around $10.5mn.
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Chief of IRS Criminal Investigation said Tysers had "eroded the process of fair and open competition".
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The broker was being investigated in relation to suspicions of bribery and corruption with regards to one specific client in the country.
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AUB Group CEO Mike Emmett will step in as CEO of Tysers on an interim basis.
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The executive has extensive experience in the reinsurance broking sector both in Asia and London, having worked for Aon Benfield, Cooper Gay and Willis Re in the past.
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The team will be headed by Tysers’ MD Paul Chapman, joined by Claffey, Freeman and Thornhill.
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AUB said the placement bookbuild was “significantly oversubscribed” and only allocated shares to existing investors as a result.
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Tysers Retail Limited was established as a separate entity in the wake of AUB’s acquisition of the broker.
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