Lloyd’s/London
Cloutier: Double Brit deal better for shareholders
The sale of Brit Insurance to run-off specialist Riverstone, two months after QBE acquired its renewal rights, sets up Brit Group to focus on developing its specialist and reinsurance operation and marks the "last major piece of restructuring", according…
Brit offloads legacy liabilities to Riverstone
Brit Group has agreed the sale of its Financial Services Authority-regulated Brit Insurance Limited to Riverstone Group.
Thistle Insurance manager Comerford joins MGAA as general manager
The Managing General Agents Association has appointed Thistle Insurance boss Jane Comerford as general manager.
Jubilee takes plunge into motor dealer market in RAC partnership
Jubilee has been appointed underwriter for a range of new products for the RAC, the first of which is a combined tyre and alloy wheel and minor accidental damage cover.
Dual opens Austria office
Dual, the underwriting arm of Hyperion Insurance Group, will open Dual Austria in Vienna on 1 July and liability specialist Hannes Puchner will head up the operation.
Direct Group swoops for second 2012 acquisition with Simple purchase
The Direct Group, a Doncaster-headquartered provider of outsourced services, has acquired Simple Insurance from Leeds-based UK General for an undisclosed sum.
Ex-Willis man Mikrut takes up JLT Re executive VP role
JLT Reinsurance has appointed Henry Mikrut as executive vice president.
Omega shareholders approve £164m acquisition by Canopius
Omega shareholders have backed Canopius' bid to buy the business meaning the acqusition could go through in July.
Cooper Gay energy chairman retires
Tony Pickering, executive chairman of Cooper Gay's energy division, has retired.
Posner steps down from QBE board
Former Halifax Bank of Scotland general insurance boss Howard Posner has retired as a non-executive director of QBE European Operations after six years.
Ex-Liberty Mutual CFO joins White Oak Underwriting
Lloyd's-based White Oak Underwriting Agency has appointed Graham Ward as finance director.
Hyperion IPO to reach 'critical mass'
Hyperion's acquisition of Windsor will boost the international broker's chances of a successful IPO, analysts have said.
Hyperion completes Windsor takeover deal
International insurance intermediary group Hyperion has confirmed it will acquire Lloyd's broker Windsor from the management and employees and their institutional backer Hutton Collins.
Four candidates win place on LMA board following 2012 election
The Lloyd's Market Association has named four successful candidates in the 2012 election for membership to its board.
Buyers back industry preparedness for Eurozone fallout but fear claims
Insurance buyers have commended the UK insurance industry's preparations for a potential fallout if Greece leaves the Eurozone, but warned that the industry will be tested by major claims that arise out of a crisis.
Editor's comment: Taking evasive action
Failure to prepare is merely preparing to fail, or so says the oft-quoted maxim. And this week has all been about UK insurance companies demonstrating this is not a trap they have any intention of falling into with regard to the continued volatility in…
Novae Zurich reinsurance CEO and CUO quit
Two bosses at Novae Zurich's reinsurance division have resigned.
BP Marsh net asset value exceeds £50m for first time
BP Marsh's chairman has described the venture capitalist firm's largest investment, Hyperion, as "forging ahead with enviable momentum".
QBE wins Gallagher deal
QBE Europe has been appointed to underwrite public sector business for AJ Gallagher subsidiary RMP from 1 July.
Amlin consolidates European operation
Amlin has consolidated all commercial insurance activities in mainland Europe with the integration of its French operation into its Netherlands base.
Olympics 2012: Team GB faces £300 000 insurance bill for basketball star
The cost of insuring Luol Deng to play basketball for Great Britain in this summer's Olympics could exceed £300 000.
Lloyd's braces for euro collapse
Lloyd's of London is readying itself for the collapse of the euro and has already reduced its exposure "as much as possible".
Experian joins forces with Transactor
Insurance software house Transactor Global Solutions has launched a data enrichment service using data from Experian.
IAG mulls Equity Red Star sale as experts debate motor future at Lloyd's
With Insurance Australia Group toying with the idea of selling the largest Lloyd's motor underwriter Equity Red Star, and aggregators controlling more power in this area, the days of motor in the Lloyd's market could well be numbered.