Lloyd’s/London
LMA unveils new binding authority agreements
The Loyd's Market Association has reduced the number of wordings of binding authority agreements from nine to three, following a following an 18-month long review.
Tysers acquires construction broker
Tysers has acquired a stake in construction broker MLW & Associates, in a move to expand its construction liability business.
Lloyd’s building sold in £260m Ping An deal
The Lloyd’s building has been sold by present owner Commerz Real to a Chinese insurer in a deal worth £260m.
British Insurance Awards 2013: Achievement Award
Long time coming
Lloyd’s CEO Ward stepping down by 2014
Lloyd’s chief executive Richard Ward is to depart his role at the London market before the end of this year.
Market Moves: Hires at RSA, Keelan Westall and MGAA among the week’s major moves
Moves within the insurer and broking spaces once again dominated the recruitment radar this week, as RSA unveiled high-profile changes within both its boardroom and its London market offering. Keelan Westall, meanwhile, moved to reinforce its growth…
Crawford unveils specialty markets offering
Loss adjusting giant Crawford has pulled back the curtains on new specialty markets services for the London and international adjusting markets.
Prosight appoints ex-QBE director to board
Prosight Specialty Underwriters has appointed Mel Goddard as non-executive director with immediate effect.
Sequel appoints non-executive director
Insurance software specialist Sequel has named Peter Droussiotis as a new independent non-executive director on 1 July 2013.
Ferneyhough joins Brit as strategy director
Brit has appointed insurance analyst Joy Ferneyhough to the newly created role of director of strategy and corporate development.
Mitsui Sumitomo sees Lloyd’s syndicate profits climb 50%
Pre-tax profits at Mitsui Sumitomo’s Lloyd’s syndicate climbed from £11.99m to £18.05m in 2012, up 50%.
Godsoe to solely lead RSA’s London cargo business
David Godsoe is to solely lead RSA’s London market cargo business after jointly managing it for 18 years.
Xchanging boss plays down fears firm is on precipice of personnel exodus
Pell eager to outline company’s plans after losing Lloyd’s claims monopoly.
Fitch raises Lloyd’s outlook to positive
Lloyd’s has seen its Fitch ratings affirmed with an improved outlook, climbing to positive from stable after the rating agency noted reduced earnings volatility.
Market Moves: MGAs make a raft of recruitments as broking is unusually placid
Exits and entries were once again high on the agenda this week as a number of managing general agents, including Argenta and UK General, unveiled a host of high-profile appointments. While the broking sector was uncharacteristically quiet, Mitsui…
Liberty signs new drivers to sponsorship programme
Liberty Mutual Insurance, the commercial lines division of Liberty Mutual Insurance Europe, has expanded its racing sponsorship programme.
Ocean warming brings new wave of insurance hazards
Ocean warming and climate change is threatening the insurability of catastrophe risk, the Geneva Association has warned.
Barbican acquires marine broker
Barbican has acquired UK-based marine insurance broker Seacurus.
LGBT insurance network to participate in London’s Pride
LGBT insurance network Link will join the London’s Pride March on Saturday 29 June, which will mark the end of London’s Pride Week.
Liberty Mutual forms aviation consortium with Ace & Hiscox
Liberty Mutual Insurance Europe is to work with Ace Global Markets and Hiscox in a consortium for aviation cover.
Argenta strengthens board with internal appointments
Argenta Holdings has appointed Graham Allen and Ian Maguire to its board of directors.
UK insurers must act to minimise climate change exposure
The UK insurance market’s exposure to international losses as a result of climate change is greater than its exposure to losses on the domestic market, a PWC study has found.
Piracy on the rise in West Africa
Piracy attacks on the West African coast are now more frequent than Somali piracy, a report by the International Maritime Bureau and other organisations said.
Randall & Quilter upbeat ahead of AGM
Randall & Quilter's first half financial result is expected to be in line with the board's expectations, according to chairman and chief executive Ken Randall.