CNA et al v. Willis Limited et al
According to its 8-K filing, Willis Limited, a subsidiary of WIllis Group Holdings Limited, acknowledged that it settled "the placement of personal accident reinsurance in London and elsewhere" with CNA Financial Corporation and Continental Casualty Company ("CCC") for a total sum of $130 million. CNA had previously requested a sum of approximately $251 million for Willis' alleged negligence and/or "deceit" in English's Commercial Court. The total figure will be paid in two installments. The first installment of $60 million will be paid on or before October 12, 2009. The second installment of $70 million will be paid on or before December 23, 2009.
For a copy of Willis' 8-K filing, click here
by Jeffrey L. Kingsley