Lloyd’s/London
QBE shakes up European arm
QBE Europe has puts its asset protection book into run-off, following a restructure of its product underwriting and distribution model.
Total 100% liable
Insurers have moved closer to recovering an estimated £750m in claims from Total, stretching back to the Buncefield oil depot explosion.
Ambant appoints former FSA associate to head up new unit
Ambant has created a new business practice to help brokers and underwriters respond to scrutiny from the Financial Services Authority.
View from the top: The tipping point
In his best-selling book The Tipping Point, Malcolm Gladwell says that ideas and behaviours spread like viruses, and that intervention (or a nudge) at just the right point — the tipping point — results in a cascade of change.
Swiss Re gives quake and Xynthia loss estimates
Reinsurer claims losses for the European winter storm to be approximately $100m.
Glacier reports $34m growth in net income
Glacier has reported net income for 2009 up to $60m and a total gross written premium decline pf 17% from 2008.
PYV launches investment fund division
Lloyd’s professional indemnity insurance broker launches business unit to offer bespoke insurance products and services for traditional and alternative funds.
The Aldermanbury Declaration - is it the way forward?
Post, as part of its Investing in the Profession Campaign, is hosting this week a special, live, and interactive, online debate on the insurance industry's latest initiative to boost professionalism - The Aldermanbury Declaration.
Liberty raids Marsh for Hogg to lead strategic assets arm
The arm aims to develop and underwrite a range of specialist risks including intellectual property, reputational risks, cyber insurances and non-material damage business interruption.
Marsh to take $600m hit on Kroll disposal
The Financial Times reports The Carlyle Group, Apax Partners and General Atlantic have all entered bids by the deadline for first expressions of interest in late February.
Beazley delivers syndicate result
The board of managing agency Beazley Furlonge has announced its results for syndicate 623, which writes business on behalf of third party capital at Lloyd’s.
Jubilee backs scheme for rally drivers
Jubilee Managing Agency has been appointed to provide an amateur motor sport personal accident scheme for amateur race and rally drivers who hold Motor Sport Association competition licences.
QBE restructures European business
With immediate effect, QBE will operate four product underwriting divisions: casualty & motor; property; marine & energy; and reinsurance & specialist.
Holman's appoints new managing director
Lloyd’s broker John Holman & Sons has appointed Angela Tjay Mazuri as managing director.
Lloyd’s partners with QuIC for Solvency II preparations
Specialist insurance market Lloyd’s has selected QuIC Financial Technologies to aid its preparations for Solvency II.
Glacier agrees space deal
Glacier Insurance is to support the Space In-Orbit Insurance Consortium led by Sciemus Space Insurance Services with immediate effect.
Chaucer profits back in black
Chaucer has reported profit before tax and foreign exchange on non-monetary items of £75.3m (2008 loss £59.5m).
Corporate tax cut in New York proposed by NYIE - Wrynn
The New York Insurance Exchange may seek lower federal corporate tax to enhance its appeal, according to the Insurance Superintendent
Cooper Gay to make cuts in aerospace division
Cooper Gay is making redundancies in its aerospace division, Reinsurance has learned.
Hardy records 78.1% combined ratio
Hardy Underwriting Bermuda has reported profit before tax and foreign exchange movements of £26.7m (2008: £4.4m).
Alterra names new executives
Alterra, the new name for the newly-combined entities of Bermudian reinsurance rivals Harbor Point and Max Capital, has named its executives.
Novae profit declines
Pre-tax profits for 2009 at the (re)insurance group fell £9.6m due to first half losses but gross written premiums rose 10%
Max ratings won't be affected by Harbor Point merger, say Fitch
Max Capital's announcement that it is merging with Bermudian rival Harbor Point is unlikely to affect its ratings, Fitch has said.
Max - Harbor Point merger won't lead to job losses - sources
The merger between Max Capital and Harbor Point won't lead to job losses in the Lloyd's market, market sources have told Reinsurance.