Lloyd’s/London
Omega international appeal soars following CNA £143m bid for Hardy
CNA acquiring Hardy could trigger a rush by international players to purchase Omega in a bid to access Lloyd's, analysts have predicted.
Market moves: Aviva shuffles its underwriting pack
Aviva was the major recruiter in the insurance industry this week, announcing a raft of changes to its underwriting team. The insurer promoted four staff to new positions while adding a further employee to the unit.
Post magazine - 29 March 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Argo hires ex-Brit underwriter for marine and speciality division
Lloyd's insurer Argo International has appointed Paul Gooderson as cargo underwriter in its marine and speciality division.
Riot report praises insurers for settling 90% of domestic claims, but slams police
The insurance industry's role in the 2011 riots has been largely praised by the Riots Victims and Communities Panel in its report After the Riots published today.
Lloyd's stung by £516m loss
Lloyd's has revealed a pre-tax loss of £516m in its full year results following the "second costliest year" for catastrophes in the industry.
Omega shareholders to reject Catalina offer
Omega shareholders could shun run-off business buyer Catalina Holdings' acquisition offer.
Nexus Underwriting sets up new Lloyd's MGA
Nexus Underwriting has launched its new Lloyd's managing general agency, Nexus Professional Risks.
LMA to put co-lead binder claims on ECF
The Lloyd's Market Association has launched a project to increase the volume of co-lead binder claims being managed using the market's ECF electronic claims handling system.
Lloyd's delays Solvency II request to FSA
Lloyd's has delayed applying to the FSA for approval of the market's internal model from April to July.
European sovereign debt hits insurer profits
2011 was the worst year on record for natural catastrophes, yet it was cracks in the Dow Jones, faults in the FTSE and tremors on the Hange Seng that bothered many insurers more.
Market moves: UK General and Towergate lead the pack
Insurer UK General and broker Towergate were the main movers and shakers this week, appointing a new chief operating officer and director of group mergers and acquisitions respectively.
Bloodstock insurance: a breed apart
Recent horse sales in Newmarket and Kentucky, and last week's Cheltenham festival, have brought bloodstock insurance back into the limelight
Repairing a reputation: interview with Xchanging's Max Pell
After the disastrous purchase of Cambridge Solutions, Xchanging is ready to fight back, move out of the shadow of shareholder Lloyd's, and secure its future, as managing director of insurance Max Pell explains.
Hardy advised by Debevoise & Plimpton over sale
Hardy Underwriting is being advised Debevoise & Plimpton over the insurer's £143m deal with CNA.
Cash deal and incumbent Hardy bosses swung CNA deal
CNA's decision to keep Hardy chief executive Barbara Merry and chief underwriting officer Patrick Gage along with the cash deal secured the deal.
Ecclesiastical reveals £16m underwriting loss
Ecclesiastical has blamed a pre-tax loss of £7.7m and an underwriting loss of £16.1m on the eurozone and Australasian catastrophes, but plans to increase premiums in Australia.
Beazley takes 25% stake in Equinox Global
Lloyd's insurer Beazley has taken a 25% stake in Lloyd's cover holder and trade credit insurance specialist Equinox Global.
Ex-Kiln Bermuda CEO Haynes handed non-exec role at Tysers
Lloyd's broker Tysers has today announced the appointment of finance expert Peter Haynes as a non-executive director.
Cunningham Lindsey staff told investors seeking buyer for loss adjuster
Global claims management group Cunningham Lindsey has told staff that its investors are looking to find a new owner for the business, Postonline understands.
Mitsui Sumitomo expands construction team with Burgess hire
Lloyd's insurer Mitsui Sumitomo said it has strengthened its commitment to the UK construction market by appointing Adrian Burgess as underwriter.
Insurers still wary despite Solvency II deal ahead of vote next week
The European Parliament's two biggest parties have tentatively agreed to include measures related to Solvency II legislation that could save the industry billions and avoid a long delay to the rules' implementation, according to reports.
Market moves: Insurers are the main movers
Insurers were, once again, the main movers and shakers this week, Ecclesiastical leading the way with the appointment of four new directors, while Allianz, QBE, XL and Arc Legal also welcomed new staff.
Comment: The risk of irrelevance
A recent report paints a bleak picture for the future of insurance.