Lloyd’s/London
Warning over reserves as retirement age rises – Post in print: 16 December 2010
Senior reporter Leigh Jackson outlines the main news from this week's issue of Post, which includes reports that insurers have been urged to review their reserves, as the proposed abolition of the retirement age could see claimants seeking increased…
Hardy responds to Beazley withdrawal with share buy-back
Hardy has revealed that the share buy-back programme announced on 26 November 2010 will now commence under existing authority from shareholders and will be administered by Peel Hunt.
Sagicor raids Broker Direct for new business development manager
Sagicor Underwriting has appointed an additional business development manager.
Lloyd's broker RFIB expands with Kazakhstan office
RFIB, the Lloyd’s insurance and reinsurance broker, has expanded its presence in Eastern Europe with the opening of an office in Almaty, Kazakhstan, and the appointment of Galina Pakhomova as chief representative for the country.
Kesh acquires Lloyd’s coverholder status
Leading Israeli underwriters, Kesh International Underwriting Agency, has acquired Lloyd’s coverholder status.
Kerry London FD Hamilton leaves broker
Finance director Ian Hamilton has left London market broker Kerry London, Post has learnt.
P&I faces challenging market in 2011, Willis warns
While investment income in the Protection and Indemnity (P&I) insurance market bounced back to $680m in 2009/10 from a $840m loss in 2008/09, record claims levels, and a continuing gap in the performance of individual P&I Clubs could present challenges…
Beazley withdraws interest in Hardy
Beazley’s final proposal of 350 pence per share has been rejected by Hardy.
CIFS adds capacity providers
Lloyd’s credit insurer Credit Indemnity & Financial Services has added Sagicor, Catlin and Omega to its current capacity providers.
IUA calls for "harmonisation" in EU insurance mediation directive talks
A public hearing today in Brussels on the proposed revision of the Insurance Mediation Directive came down in favour of "minimum harmonisation" of brokers and other sellers of insurance.
Lloyd's firm Houlder receives £1.2m cash injection
Houlder Insurance Services has received a £1.2m capital injection from its parent China Merchants Group.
Chaucer's international liability division opens for business
Chaucer's new international liability division is now accepting business, the company has announced.
Barbican turn-key approved by FSA
Whittington will retain a shareholding in its turn-key operation Barbican after the latter was granted conditional approval from Lloyd's and the Financial Services Authority to form its own managing agency.
RFIB appoints financial risk director
RFIB Group has appointed Neil Baker to the role of divisional director, financial and professional risks.
JLT boss draws parallels between terrorism and flood insurance
The Government’s £200m cuts on flood defences could have a catastrophic effect on the commercial property market by making flood insurance unavailable.
Beazley adds Tolle and Cox to its PLC board
Beazley has announced that Rolf Tolle has been appointed as a non-executive director and Adrian Cox as an executive director, both with immediate effect.
THB announces three London hires
THB Global Risks has recruited three staff to its London office.
Amlin targets professional lines with key appointment
Amlin has appointed Lloyd Fielder as leading class underwriter within its new professional lines business.
Beazley snowed under with a surge of event cancellation enquiries
Beazley said that widespread snow, ice and sub-zero temperature across the UK and Northern Europe – earlier in the year and more severe than ever before – have put thousands of events – pop concerts, sporting and racing fixtures, trade shows and theatres…
Kiln appoints new underwriter
R J Kiln has named former Brit Insurance employee Paul Blunden as a class underwriter of medical expenses insurance for Lloyd’s Syndicate 807.
Jubilee off the market as Ascot buys motor book
Jubilee group chief executive Andreas Loucaides has vowed that the Lloyd's underwriter is no longer for sale, despite Ascot Underwriting acquiring its commercial motor book.
RFIB sees 13% growth
Lloyd's broker RFIB has credited its 13% growth in turnover for the year ended 30 June 2010 to the performance of its marine and reinsurance divisions.
Foreign interest in UK firms rose over 2010
Interest from overseas in UK financial services and insurance companies has improved this year after the credit crunch caused investment and merger and acquisition activities to slow in 2009.
Legal review of the year: Less doing more
Consolidation among insurance law firms was the hot topic for 2010, as they try to meet insurers' demands. Veronica Cowan reports on an interesting year.