Lloyd’s/London
Lloyd’s and XL back shariah-compliant MGA to succeed where others failed
The boss of a new shariah-compliant underwriting agency has vowed to succeed where previous Islamic insurance propositions have failed by focusing solely on the commercial market.
Prosight recruits from Mitsui Sumitomo for ops manager
Prosight Specialty Underwriters has recruited Colin Smith from Mitsui Sumitomo at Lloyd’s to serve as its new operations manager.
View from the Top: The American invasion gathers speed
Private equity investment from the US into London Market brokers is seemingly in vogue in 2013, with a considerable amount of new capital entering the market.
Capita and XL back Lloyd's-based Shariah-compliant start-up
A Shariah-compliant underwriting agency has been launched in the London market with the financial backing of Capita and the Bank of London & Middle East, and capacity provided by XL.
Hiscox UK reports Q1 GWP up 8.5%
Growth in luxury motor and professional indemnity business has seen Hiscox’s UK operation report improved gross written premiums for the first quarter of 2012, rising 8.5% on last year.
AIG targets marine, P&C growth in London
US insurance giant AIG is hoping to see its European operation, which includes the business formerly known as Chartis, grow in London’s wholesale market.
Lancashire CEO Brindle admits Aon/Berkshire deal concerns as it unveils $77.9m Q1 profit
Lancashire Holdings this morning reported a jump in pre-tax profit and post tax profit for the first quarter of 2013 to $78.9m (Q1 2012: $46.5m) and $ 77.9m (Q1 $45.6m) respectively.
Simply Business closes in on MBO as Brit CEO Cloutier admits u-turn over broker commitment
Simply Business is close to a deal which will see it separate from Brit Group through a management buyout, Postonline has learnt.
Qatarlyst buyer Ebix wins Ropner tech deal
Independent Lloyd’s broker Ropner Insurance Services has recruited Ebix Europe to work on its electronic accounting, endorsement and settlement capabilities.
Prosight appoints leisure and hospitality underwriters
Prosight has appointed Peter Lodge and Stephen Kiedish as underwriters in the newly formed leisure and hospitality teams.
Regulatory uncertainty raises domicile questions
Splitting tax domiciles and regulators could be an enticing prospect for insurance groups looking to avoid the European Union’s Solvency II regulations.
Surgeons offered complication cover following breast implants scandal
A compulsory scheme providing cosmetic surgeons with complication insurance cover has been earmarked as an important step towards avoiding a repeat of the aftermath of the Poly Implant Prothèse scandal.
Market Moves: Ecclesiastical, Hiscox and Mitsui Sumitomo lead the way in busy week for insurers
This week saw a host of major insurers complete hires in business areas ranging from sales to claims. Among the firms leading the recruitment race were Hiscox, Ecclesiastical and Mitsui Sumitomo. Elsewhere, while the broking sector registered little of…
Solvency II “ground to a halt” by national interest PRA boss says
Disagreement over the final Solvency II rules at a national level has seen negotiations “ground to a halt” according to Prudential Regulatory Authority boss Andrew Bailey.
Post Intelligence app brings insurance white papers straight to your iPad/iPhone
Post has launched a new free tablet and mobile compatible app that offers readers the latest insurance white papers straight to their iPhone or iPad with minimum fuss.
Tysers plots LLP move for talent retention
Independent Lloyd’s broker Tysers is to move to a limited liability partnership in a bid to attract and retain talent.
HNW motor insurer to target ‘super-younger’ demographic
Aqueduct Underwriting’s high net worth and specialist motor product Aurum has noted a gradual but significant demographic shift to ‘super-younger’ drivers in spite of the continuing economic hiatus in the UK.
R&Q sees total 2012 income up 41%
Randall and Quilter has reported total group income of £52m for the year ending December 31, up 41% on 2011’s equivalent figure of £36.8m.
R&Q plots Bermuda move
Randall & Quilter is planning to redomicile its holding company in Bermuda, moving out of the UK.
2013 British Insurance Awards shortlist announced
Today Incisive Media insurance division editor-in-chief Jonathan Swift is proud to unveil the nominees for the 2013 British Insurance Awards.
Post Claims Club: London market should follow other sectors’ lead in implementing standards
The London market could benefit from the introduction of a road traffic accident portal-like electronic system with fixed timelines and costs consequences for delays in decision making, according to Martin Thomas, chief claims officer at Aon Risk…
LMA unveils plan to cut whiplash bill
The Lloyd’s Market Association has laid out a five-point plan for reducing the annual cost paid out of over £2bn for whiplash claims.
Aquiline completes Equity acquisition
New York-based private equity firm Aquiline has completed its deal to purchase Equity Insurance Group.
Hiscox names property head as new London unit CUO
Hiscox has restructured its London operations, separating the insurance and reinsurance lines in a bid to foster growth.