Specialty insurer Hiscox Ltd, based in Bermuda, said it acquired a portion of the kidnap and ransom business from Chicago-based insurance broker Aon Limited. Terms of the deal were not released.
The business, which is already substantially underwritten by Hiscox, principally comprises Latin American risks from third-party brokers, the company said.
Hiscox said the agreement was reached following Aon's decision to restructure its crisis management division to focus on servicing business from Aon's network of global offices.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
