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Arthur J. Gallagher Ends $3.6B Deal to Buy Willis Re, After Aon-Willis Merger Scrapped

Arthur J. Gallagher & Co. announced it has terminated its May 12, 2021 agreement to acquire Willis Re and certain other Willis Towers Watson operations for $3.57 billion. Both Gallagher and Willis Towers Watson filed statements with the Securities and …

National Alliance Announces States’ Insurance Customer Service Reps for 2021

The educational organization The National Alliance for Insurance Education & Research has announced this year’s winners of its annual insurance customer service representative (CSR) competition for each state. To be eligible for the National Outstanding CSR of the Year Award, …

Purdue’s Creditors Back Bankruptcy Plan That Would Pay 3,000 Opioid Lawsuits

OxyContin maker Purdue Pharma LP said on Tuesday that creditors voted in favor of its reorganization plan that would provide billions of dollars to the governments that sued the company for its role in the U.S. opioid crisis. More than …

Allstate Among Large Firms Linking CEO Pay to Diversity Gains

Corporate diversity has become the most common type of sustainability metric used in setting executive pay, a new study found, as companies look to increase the share of women and minorities in their workforces. Among 61 metrics used by Fortune …

Insurance Investor Aquiline Capital to All Employees: Take the Week Off

No calls, no emails and no meetings. That’s the order this week from Aquiline Capital Partners to its staff. The private equity firm is putting all employees on vacation, people familiar with the matter said. It’s an unusual move intended …

North Carolina Civil Rights Groups Reach Settlement Over 2020 Clash With Police

Civil rights groups in North Carolina have reached a settlement with the city of Charlotte and its police department in a lawsuit filed last year after officers surrounded and gassed demonstrators protesting the death of George Floyd. The terms of …

Broker Ardonagh Group Launches Ardonagh Europe to Expand Buy-and-Build Strategy

The Ardonagh Group announced the creation of Ardonagh Europe as it prepares to take its buy-and-build model to Europe. Ardonagh Europe will be headquartered in Dublin and led by Conor Brennan, who will also continue to hold the position of …

Trans-Siberian Railway Bridge Resumes Operations After Repair of Flood Damages

MOSCOW — Russia said on Tuesday it had fully restored train travel over a Trans-Siberian railway bridge in its far east that was damaged last week by floods. The world’s longest railway is a strategic transport artery for Russia’s economy, …

Disruptions from Cyber Attack Force S. Africa Port Operator to Declare ‘Force Majeure’

Transnet SOC Ltd., South Africa’s state-owned ports and freight-rail company, declared force majeure at the country’s key container terminals after disruptions caused by a cyber attack five days ago. The measure covers the Durban, Ngqura, Port Elizabeth and Cape Town …

Duke Energy Builds Flood Walls Around South Carolina Electric Substation

A utility is building walls around an electric substation to prevent them from being overrun by floodwaters in the first of its kind project in South Carolina. Duke Energy is spending $1.6 million on the Nichols project to protect a …

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