Hiscox Ltd – Acquisition of Kidnap and Ransom Business - 06.08.07

HISCOX – Takes Over K&R Business from Aon
Hiscox Ltd announced on 19 July the acquisition of a portfolio of kidnap and ransom business from Aon Limited. The press release is attached and copied below. 

The business, which is substantially underwritten by Hiscox, principally comprises Latin American risks from third party intermediaries.

This agreement has been reached following Aon's decision to restructure their Aon Crisis Management division to focus on servicing business from Aon's network of global offices. The deal includes a transfer of existing staff and systems which will ensure a seamless transition for existing clients and brokers.  Hiscox is the market leader for kidnap and ransom insurance by premium income.