Insurance broking and risk management firm Marsh has confirmed that it is to acquire the UK brokerage firm Bluefin Insurance Group Ltd. from AXA UK plc.
Insurance Business America reported last month that the two firms were in talks and the deal is now expected to close in the first quarter of 2017 subject to regulatory approval.
“We are very happy to be able to agree to this transaction with Marsh,” said Amanda Blanc, CEO of AXA UK & Ireland. “As market dynamics have evolved and our own strategy has progressed, it has become increasingly apparent that Bluefin’s ability to achieve its potential would be better served under a new parent. I would like to take this opportunity to thank Bluefin’s teams for their great contribution over the years.”
Earlier this year Marsh acquired another UK business, insurance and benefits consultants Jelf plc and the firm will merge Bluefin into that business unit.
“We want to make sure that businesses of all sizes are getting the very best risk and insurance advice to help them navigate the uncertainties of today’s environment. Bringing the Bluefin and Jelf teams together will give us a great platform to do just that,” said Mark Weil, Marsh’s CEO for UK & Ireland.
Best auto insurers revealed
A poll of auto insurance policyholders has ranked USAA as the top insurer in the sector.
The survey, carried out by insure.com, involved customers of 20 leading car insurance companies and included scores for customer service, claims handling, pricing, plans to renew current policy and likelihood of recommendation.
Joining USAA in the top 5 are ACSC, CSAA, Travelers and Mercury Insurance.
Berkshire Hathaway launches employment practices liability cover
The specialty insurance unit of Berkshire Hathaway has launched a new element to its Executive First suite; employment practices liability insurance.
The coverage is aimed at businesses facing harassment, discrimination and other claims initiated by employees, regulators, customers, and others. Coverage extends to allegations brought by employees as well as third parties, such as customers. Limits of up to $25 million are available.
“Our EPLI policy is a clear and concise solution for complex risks,” said Dan Fortin, SVP, Head of Executive & Professional Lines, BHSI. “It comes with BHSI’s trusted underwriting and claims expertise and proven services to help our customers instill employment best practices and ensure regulatory compliance.”