Lloyd’s/London
Brit has "natural opportunity" to grow top line as it eyes new markets
Brit group chief executive Mark Cloutier said the insurer is likely to see top line growth in 2013 having repositioned the business to "opportunistically" target profitable specialist lines business.
Brit COR improves to 93.2% in 2012
Brit has produced an operating profit of £113.6m for the full year 2012 (2011 restated: £68.4m) and an impoved combined ratio of 93.2% (2011 restated: 99.6%).
Mixed performance forecast for Kiln syndicates
Non-aligned Lloyd’s syndicates operated by Kiln have been hit by catastrophe losses as the insurer has updates forecasts for years of account from 2010 onwards.
Hiscox: UK downgrade could benefit shareholders
Hiscox chief executive Bronek Masojada has refused to panic over the loss of Moody’s AAA rating for the UK, saying the move may benefit shareholders.
Hiscox profit soars to £217m
Hiscox has reported a pre-tax profit of £217.1m for the full-year 2012, dwarfing the 2011 result of £17.3m, and improving its group combined ratio by 14 percentage points to 85.5%. Gross written premium increased to £1.57bn (2011: £1.45bn).
Ascot swings back to profit for 2012
AIG-backed Lloyd’s syndicate Ascot Underwriting has announced pre-tax profits of £93.3m.
Tempo pairs with W R Berkley on Commercial D&O
Tempo Underwriting has initiated plans to underwrite commercial directors’ and officers’ liability cover through a binding authority deal with W R Berkley.
Argo International appoints underwriting director
Lloyd’s insurer Argo International has appointed Bruno Ritchie as director of underwriting, subject to regulatory approval.
Be prepared for move to IFRS
Unlisted insurers and Lloyd’s syndicates need to prepare for a move to IFRS.
Utley settles on Lloyd’s Equity charges
Former Equity chief executive Neil Utley has been barred from applying for Lloyd's director positions for two years under terms agreed in a settlement on charges of detrimental conduct.
Besso recruits aviation boss from Gibbs Hartley Cooper
Independent broker Besso has swooped for a new head of aviation from Gibbs Hartley Cooper.
A G Doré launches A&H portfolio
Lloyd’s A G Doré & Others Syndicate 2526 has launched a new portfolio focusing on accident and health cover.
R&Q MGA launches Lloyd’s yacht consortium
Randall & Quilter’s multi-line underwriting agency, R&Q MGA, has created a dedicated Lloyd’s consortium to provide yacht and small vessel cover, globally.
Brokers bemoan electronic claims systems as service satisfaction declines
Brokers have blamed an over-reliance on electronic systems for a decline in London market insurers’ claims standards.
Insurance Census: Age: The generation game
In the second of a three-part series on diversity in the industry, age comes under the spotlight. How are different age groups represented across insurance, and what is being done to entice the next generation of employees into insurance?
Steady growth at Marsh and Guy Carpenter
Marsh and Guy Carpenter have both seen revenues increase for the year ending 31 December.
Xchanging 'makes history' with ECF app launch
Xchanging has launched a mobile application for the London insurance market in a move it claims will "make history in the market".
Novae in recovery mode following positive trading update
Novae is in "recovery mode" having "turned a corner" by improving its profitability and return on equity according to Westhouse Securities.
RFIB boss looks to the future after overseeing 9% turnover growth
International Lloyd’s broker RFIB Holdings chief executive Jonathan Turnball believes a 9% increase in group turnover to £47.5m last year will serve as a launch pad for further growth in 2013.
Manchester Underwriting launches product recall cover
Increased demand for product recall and brand protection products has led London managing general agent Manchester Underwriting to launch its own product set.
Amlin-backed cyber risk MGA opens doors
Amlin is to lead capacity provision for a new cyber risks managing general agent.
Ace enters Lloyd’s energy market
Ace has launched offshore and onshore energy cover from its Lloyd’s syndicate 2488.
Beazley more than triples net profits
Beazley has reported soaring post-tax profits, seeing figures rise over three fold on last year’s totals.
Beazley board recommends new appointment
The Board at Beazley has recommended the appointment of Angela Crawford-Ingle as an independent non-executive director of Beazley.