Willis Group Holdings Limited and family shareholders of French insurance broker Gras Savoye & Cie, said they have an agreement for Astorg Partners to take a third interest in Gras Savoye.

XL Capital Ltd said it has received approval from the China Insurance Regulatory Commission (CIRC) to start preparation work to set up a property and casualty insurance company in China.

The Society of Actuaries said it is participating in an effort to make its Chartered Enterprise Risk Analyst designation a global risk management designation.

Proceeds from the sale of Bernie Madoff's yachts will benefit victims of his $65 billion Ponzi scheme.

Owners of mid-sized motorboats only use their vessels 50 hours per year on average, according to Boat U.S., a trade organization. Yacht owners, on average, enjoy their investment an average of 75 hours per year.

The annual meeting of the American Institute of Marine Underwriters will be on Nov. 19 in New York City. The U.S. ocean marine insurance market will be discussed.

HCC Specialty Underwriters special event liability program, has lower minimum premiums.

Bud Cole is the vice president and senior consultant of Lockton's employee benefits practice in San Diego, with responsibilities in managing client relationships.