Lloyd’s/London
Claims operation launches to assist the London market
A new company offering claims management services to assist the London market has been launched.
Munich Re hit by £931m cat losses in 2011
Natural catastrophes in Australia and New Zealand have already cost Munich Re AUS$1.5bn (£931.1m) in 2011.
Canopius accuses industry of "folly"
Canopius chairman Michael Watson has accused the insurance and markets of “folly” as rates continue falling despite 2010 being “one of the six” most costly years for insured catastrophe losses.
Catlin estimates $125m quake loss
Catlin Group has estimated that the 22 February 2011 earthquake near Christchurch, New Zealand caused its losses of $125m.
Post history - 10 years ago: Rock band serves writ on syndicates
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 10 years ago reveals.
Postbox: Are the dog days over?
Forty to 50 years ago, the London insurance market claimed it would offer cover for any legitimate risk and, as a young broker, I never imagined I would one day be frustrated by the failure to quote for a simple risk.
Novae: UK corporation tax may force us to redomicile
Novae chief executive Matthew Fosh has said the UK’s economic landscape is set to force the insurer to redomicile, so it can remain competitive and yield bigger returns for shareholders.
Amlin blames earthquakes for £250m drop in profit
Amlin will monitor rate increases in earthquake zones in 2011, after blaming significant catastrophe activity for a £250m drop in profit for 2010.
Chaucer profits fall due to cat exposure
Chaucer has attributed its fall in profit and property underwriting loss to its exposure to global catastrophes.
Capita Managing Agency to manage new run-off
Capita Managing Agency has been approved by Lloyd’s to manage a newly created run-off syndicate at Lloyd’s, 2255.
Brit takeover continues
The deadline by which Brit shareholders can accept or decline Achilles offer for the company has been extended again.
Southern hemisphere catastrophe events hit Beazley syndicate
Beazley Syndicate 623, which writes business on behalf of Names at Lloyd’s, has reported a 13.4% return on capacity for the 2008 underwriting year (previously 10%).
Liberty outlines mid-corporate aspirations
Liberty Mutual Insurance Europe has outlined plans to expand into commercial lines mid-markets.
Chaucer reports £32.9m profit
Chaucer has reported profit before tax and foreign exchange on non-monetary items of £34.8m (2009 £75.3m) and profit before tax of £32.9m (2009 £42.0m).
Novae considers move abroad
Novae Group's underlying profit before tax has improved 105% year-on-year to £36.2m (2009: £17.7m).
Amlin hit by retro quake losses
Amlin’s results “beat consensus”, albeit driven by reserve releases, while its 88% combined ratio in difficult conditions was “impressive”, according to analysts at Jefferies International.
LMA revamps terms of engagement
The Lloyd’s Market Association energy claims group has presented their revamped ‘Terms of Engagement for Energy Loss Adjusters’ at this year’s Lillehammer Energy Claims Conference.
Brit appoints terrorism underwriter
Brit Insurance has announced the expansion of its war and terrorism team with the appointment of Charles Barrett as terrorism underwriter.
Hardy profit halves to £10m
Hardy has reported gross written premium of £279.4m (2009: £242m) and before tax of £10m (2009: £20.1m).
Mitsui Sumitomo at Lloyd’s launches claims charter
Non-life insurer Mitsui Sumitomo at Lloyd’s has launched its first claims charter as part of a drive to enhance the service delivered to brokers and their policyholders.
Investing in the profession - claims: a focus on training
There has been a lot of talk about professionalism in the claims sector. But while those operating in the field have long been granted access to significant training resources, what about those in the back office? Daniel Dunkley looks at whether things…
Broker focus – private equity: the start of a broader movement?
2011 has already seen one major broking private equity deal involving Towergate. Rachel Gordon assesses whether this is likely to be a one off, or the start of a broader movement within the intermediary market.
Hiscox targets political unrest for opportunities
Hiscox is looking for underwriting opportunities arising from the political unrest in the Middle East and North Africa.
Superbrands insurer rankings revealed
Allianz has set its sights on rising up the rankings next year in an annual league table of the UK's most successful brands after climbing 111 places to 219.