The new practice will brings together Marsh's parametric solutions, alternative risk transfer, captives and complex risk offerings.
The purchase came from Aon’s funds affiliated with NFP’s main capital sponsor Madison Dearborn Partners and with HPS Investment Partners for US$13 billion.
The legislation, known as the EU's main piece of legislation in the insurance area, cites captives under its definition of ‘small and non-complex undertakings’.
The report also notes that rates continued to be relatively consistent, with most regions experiencing small decreases in the same period.
The event aims to bring together over 300 risk and insurance professionals from the Philippines and across Asia Pacific.
The company intends to merge with the acquired captive in due course, and reinsure the longer-tail portion of the portfolio with its core risk carrier in Germany, Darag Deutschland AG.
Based in Melbourne, Solution is a specialist insurance underwriter that focuses on financial lines insurance products.
