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 National Association of Insurance Commissioners has won significant changes to legislation creating a Federal Insurance Office, giving state regulators more say in its operations.

A federal court ruling holding the Army Corps of Engineers, and the U.S. government by extension, liable for damage in New Orleans caused by Hurricane Katrina is unlikely to have much effect on the P&C industry, an I.I.I. representative said.

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

A provision in the Senate version of healthcare reform legislation dealing with so-called "Navigators" that would be created to help people under the alternative "Exchange" market system has industry officials concerned.

The National Association of Insurance Commissioners said yesterday it will keep secret the names of bidders competing for a contract to assess the value of insurers' mortgage backed securities.

Health care reform legislation unveiled by the Senate Democratic leadership last week does not kill the federal antitrust exemption for health and med mal carriers, but that step could be taken in an amendment during floor debate.