Lloyd’s/London
Barbican to boost UK capacity with Inter Hannover deal
Barbican is to grow its UK P&C division through a capacity deal with Inter Hannover.
Lloyd’s profits up 14% following record GWP
Lloyd’s has recorded profits of £3.2bn for 2013, up 14% on a previous year equivalent of £2.8bn in 2012, after reaching a new record high of gross written premiums.
Prettejohn linked with Lloyds Bank non-exec seat
Nick Prettejohn is to be named a non-executive at Lloyds Banking Group according to a report from the Financial Times.
Missing Malaysian plane unlikely to affect rates in aviation market
Fate of Malaysia Airlines flight MH370 unknown after disappearing on 8 March.
Advent appoints Cooke as cargo underwriter
Lloyd’s insurer Advent has appointed Gary Cooke as a cargo underwriter in its marine division.
Equity Syndicate reports 12.6% capacity loss for 2011
Equity Syndicate 218 has closed its 2011 account year with a 12.6% loss of capacity.
Gable to underwrite commercial surety bonds
Gable has completed an agreement to underwrite specialist commercial surety bonds within the UK and European Union.
Beazley Syndicate 623 reports $18.6m total gains increase
Beazley Syndicate 623 reported an $18.6m (£11.1m) increase in its total gains for 2013, rising to $61.4m from $42.8m in 2012.
Managing General Agents: Tightening up
Most sectors of the insurance industry audibly groan when presented with the possibility of increased regulation – so why are managing general agents welcoming the prospect?
Kerry London posts 25% rise in Ebitda
Broker Kerry London Group posted a 25% rise in Ebitda from £1.8M to over £2.3M in 2013.
Barbican recruits Chaucer global energy head
Barbican has named Chaucer global head of energy as the underwriting manager of its own energy division.
2525's Dale seeks "skin in the game" to profit from liability upturn
The active underwriter at specialist liability Syndicate 2525 has admitted that the firm’s executive would love to have “some skin in the game,” whilst railing against the regulatory costs in running a smaller Lloyd’s insurer.
Hiscox inks Xchanging fees management contract
Hiscox is targeting improved fee turnaround with a deal that will see Xchanging provide management information.
Former Lloyd’s CEO Prettejohn steps down from PRA
Former Lloyd’s chief executive and Brit chairman Nick Prettejohn is to step down from the board of the Prudential Regulatory Authority.
Ascot profits down 14% for 2013
AIG-backed Ascot Underwriting has announced profits down 14% for 2013.
Novae optimistic on organic growth through 2014 says Fosh
Novae group chief executive Matthew Fosh has said the insurer and reinsurer is cautiously positive on prospects of further economic growth this year, in spite of “minefields”.
Novae's underwriting profit climbs 50%; pays special dividend
Novae Group's underwriting profit was £48.9m last year, an increase of 50% over 2012 when it recorded £32.6m. As a result the Lloyd's insurer is paying a special dividend of 20p a share.
Mergers & Acquisitions: Buying with Confidence
2013 saw a rise in the number of mergers and acquisitions deals in the general insurance sector. Is this trend likely to continue, and where will firms look to grow their businesses?
Bryant touted as Lloyd's Hong Kong frontrunner after leaving Zurich
Dylan Bryant is being touted as the frontrunner to become Lloyd's general representative in Hong Kong after leaving his role as regional head of IPZ customer, distribution and marketing, Asia-Pacific, Zurich.
Ascot signs five-year claims deal with Xuber
Ascot Underwriting has signed a five-year deal with Xuber, Xchanging’s insurance software business, for the provision of claims.
Lancashire must convince investors of merits of Cathedral takeover
Bermudian insurer Lancashire must work hard to persuade investors of the merits of its Cathedral acquisition, following a lower than expected dividend pay-out to investors, according to Westhouse Securities.
Ambant tackles client monies trapped in brokers' loss funds
Ambant has launched a loss fund service, which aims to tackle millions of pounds sitting unproductively in unreconciled, lost, forgotten or inaccessible loss funds held by brokers and third party claims administrators.
R&Q warns profits to be hit by 'slow premium growth'
In a trading update issued ahead of its 2013 results, Randall and Quilter has warned that its live syndicate 1991 has shown slower than expected premium growth, with this likely to impact the group’s full year.
Capita takes second MGA stake
Capita has taken an equity stake in a managing general agent for the second time, investing in Infinity Agency Limited.