Business Services Industry

Late News.(AXIS Specialty Ltd to buy Sheffield Insurance Corp from Aon Corp.; other news briefs on insurerance industry)

Business Insurance, November, 2002

Aon selling P/C unit to AXIS Specialty Aon Corp. is selling its Sheffield Insurance Corp. specialty property/casualty insurance subsidiary to Bermuda-based AXIS Specialty Ltd. Terms of the transaction were not disclosed. As part of the deal, Dennis B. Reding, who joined Aon earlier this year as chief executive officer of its Combined Specialty Group Inc.

underwriting operation, will join AXIS to run its U.S. specialty insurance operations. David L. Cole will become chairman and CEO of Combined Specialty Group and will continue to run Aon's extended warranty business. Adelphia execs can tap D&O coverage: Judge A federal bankruptcy judge is halting coverage litigation between former top officers of Adelphia Communications Corp. and the company's directors...

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