Lloyd’s/London
Swiss Re P&C arm hit by nat cat losses in Q2 2013 as COR jumps to 100.7%
Swiss Re this morning reported net income of US$786m (Q2 2012: US$83m) in the second quarter of the year on premiums earned of $6.8bn (Q2 2012: US$6.1bn).
Mitsui Sumitomo expands senior underwriting team
Mitsui Sumitomo at Lloyd’s has added two experienced underwriters to Syndicate 3210 as part of a plan to diversify its products and distribution and capitalise on international opportunities.
Lancashire reveals Cathedral deal
Bermudian insurer and reinsurer Lancashire Holdings has confirmed it is in negotiations to acquire Lloyd’s insurer Cathedral Capital for £266m.
IUA establishes Political Risk Committee
The International Underwriting Association has created a new London market Political Risk Committee comprising underwriting and claims representatives from across the association’s member companies.
Simon Philpin joins Equinox Global
Equinox Global has appointed Simon Philpin as London-based senior credit analyst based.
Direct Line cost drive 'crucial' as premiums drop
The latest AA index shows competition is intensifying and makes Direct Line's cost efficient drive 'crucial' according to Westhouse analyst Joanna Parsons.
Small claims track decision disappoints LMA
Lloyd’s Market Association is disappointed the Transport Select Committee has recommended keeping whiplash claims out of the small claims track.
Curtis lands Barbican CEO role
Barbican Group has appointed Ken Curtis as chief executive of Barbican Managing Agency.
Am Trust agrees £57m deal for Sagicor Europe
Am Trust Financial Services has agreed to acquire Sagicor Europe from Sagicor Financial Corporation for approximately £57m.
Eamon Brown new Jubilee CUO
Eamon Brown has been appointed chief underwriting officer at specialist Lloyd’s insurer Jubilee.
Hiscox posts 75% combined ratio for H1
Hiscox has beaten analyst expectations to post a combined ratio of 75% for the first six months of 2013.
Northdoor enters cyber-services partnership with 24 Lockdown
Insurance services provider Northdoor has formed an exclusive partnership with 24 Lockdown, a security and technology consultancy service in the cyber risk arena.
Market Moves: Cox joins Ecclesiastical management board, while Bluefin’s Philip moves up again
Both insurers and brokers completed their fair share of high-profile hires this week. Ecclesiastical took top billing among insurers, with the appointment of Brit’s former chief executive Ray Cox as a board member, while among brokers Bluefin recruited…
Interview: David Walsh: The artist
After 14 years building CFC Underwriting from a dotcom start-up to a successful MGA, founder and managing director David Walsh now sees the global market as his canvas.
Lloyd’s brokers sign up for VIPR Bordereaux product
Two Lloyd’s brokers have partnered with VIPR to use its software and systems.
Lloyd's earns postive ratings outlook after coping with record cat activity
A.M. Best has revised Lloyd’s outlook to positive from stable and affirmed the financial strength rating of ‘A’ (excellent) and issuer credit ratings of ‘A+’.
Ascot CUO Pepper named London’s most credible underwriter
Ascot chief underwriting officer Mark Pepper has been named as the most credible underwriter in the London market in a study by Gracechurch Consulting.
Lloyd’s renews deal with FCA to avoid regulatory duplication
Lloyd’s of London has renewed an agreement originally signed with the Financial Services Authority in a bid to avoid duplicating regulation.
Simply Business MBO to realise the ‘full potential’ of business
Simply Business chief executive Jason Stockwood has revealed the recent management buy out was prompted by a desire to clarify its shareholder structure.
Lockton launches intangible risks insurance program
Lockton is seeing to put an end to “uninsurable risks” through a customised program developed by the broker in conjunction to Kiln.
Simply Business parts ways with Brit after completing MBO
Simply Business has finally completed a management buy-out with backing from European equity firm Ana Cap.
Career file - Cameron McNaught: McNaught takes position in newly-opened Parabis Edinburgh office
Parabis Scotland has appointed defendant insurance lawyer Cameron McNaught as a partner in its newly-opened Edinburgh office.
Market Moves: Insurers at the forefront in recruitment market with major hires
Insurers took centre stage in the recruitment market this week, with hires coming thick and fast from the top down. A new chief executive was named at Torus to coincide with the firm’s sale to Enstar, while at Antares a political risks manager and a non…
Vision 2020: Full steam ahead
Despite the report fading from memory, the insurance industry is still on track when it comes to achieving Vision 2020’s key aim to progress the industry