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Willis Group To Pay $139M To Settle Assurant Suit

Law360 (June 11, 2009, 12:00 AM EDT) -- A Willis Group Holdings Ltd. subsidiary has agreed to pay $139 million to settle a personal accident reinsurance suit with Assurant General Insurance Ltd. and American Reliable Insurance Co. filed in a U.K. court.

Willis Ltd. announced the settlement in a filing with the U.S. Securities and Exchange Commission on Tuesday.

According to the release, Assurant filed the suit against Willis in the English Commercial Court in September 2007 in relation to the placement of personal accident reinsurance.

Assurant will receive the settlement in two installments,...
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