Lloyd’s/London
APC unveils fast food insurance product
Underwriting agency APC has launched a bespoke take-away fast food franchise insurance product for Irish businesses.
Concerns raised over post-acquisition capital structure of Brit
AM Best Europe has placed the financial strength rating of A (Excellent) and issuer credit rating (ICR) of “a” of Brit Insurance and the ICR of “bbb” of Brit Insurance Holdings, the ultimate parent of the Brit Insurance group of companies, under review…
Brit reports 8.5% drop in GWP
Brit Insurance has reported an 8.5% reduction in gross written premium to £1.22bn for the nine-month period ended 30 September 2010 (3Q 2009: £1.33bn), a decrease of 9.0% at constant exchange rates.
Brit agrees cash offer with bidders
Brit Insurance has reached agreement with Apollo Management and CVC Capital Partners that will see the insurer’s shareholders receive up to £11 per Brit share.
AIG CEO Benmosche says he "feels fine" after chemotherapy
AIG has announced that its president and chief executive officer, Robert H. Benmosche, has been diagnosed with cancer and is undergoing aggressive chemotherapy.
Antares adds underwriter to treaty team
Lloyd’s managing agency Antares has appointed Fergus Reynolds as property treaty deputy underwriter.
Torus boosts Swiss professional lines team
Torus has appointed Michael Kuprianczyk as a professional lines senior underwriter based in Zurich.
Underwriting Service Awards 2010 - full shortlist
The final shortlist for the inaugral Underwriting Service Awards 2010 have now been released - with the eventual winners due to be revealed at a special awards dinner in London on 17 November.
Domicile: does it really matter for (re)insurance buyers?
Reinsurance buyers increasingly view reinsurers as global entities able to move capital easily between business units rather than as geographically discrete counterparties, insisted Chris Klein, director of reinsurance market management at Guy Carpenter.
Munich Re: renewable energy premium volumes set for 240% growth
In line with political targets, the share of renewable energies in power generation in Germany is expected to increase from a current 10% to 60% by the middle of the century.
Apollo sets sights on international treaty with Braddock hire
James Braddock is to join Apollo Syndicate 1969 in December as an underwriter specialising in international property treaty business.
The Insurance Fraud Awards 2010 - winners announced
Over 380 of the great and the good from the general insurance industry's fraud detection and prevention sector gathered in London last night for Post's Insurance Fraud Awards 2010.
Markel promotes Graeme Veale
Markel International has promoted Graeme Veale to claims operations director.
Newly launched Paraline acquires ICAT
Paraline Group, a Bermuda-domiciled insurance and reinsurance company, has announced its launch and acquisition of ICAT Holdings.
Willis restructures European reinsurance business
Willis Re has merged its teams handling Continental European and UK-based property and casualty business into an expanded European unit and is establishing a new specialty casualty practice group.
UK non-life sector COR expected to peak at 101% claims Fitch
Fitch Ratings today said its outlook on the UK non-life sector remains stable, having been revised from negative in March 2010.
Postscript - 10 years ago: QBE hints at relocation to London
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.
In Series: Professionalism & CPD: Underscoring excellence
Professionalism has always been strong in the London market. Adrian Ballardie explains why it is now being reinvigorated.
In Series: Professionalism & CPD: The best of the best?
Lloyd's and the London market is tempting for graduates, with the potential of international business and a city base. But is there sufficient emphasis on formal career development? Rachel Gordon investigates.
Editor's comment: Lloyd's soap rumbles on
As the clock ticked down to the Friday (15 October) deadline to complete a deal for Brit, the Dutch-domiciled insurer confirmed an extension has been granted to bidders Apollo and CVC Capital Partners.
Blanch veterans join Goss Re
Ted Blanch, Mike Cashman, and Dan Case have all joined Dallas-based Goss Reinsurance Brokers in the US as partners.
JLT raids Marsh and Oval for senior regional appointments
Jardine Lloyd Thompson has appointed Nigel Bartlett as a partner, working within its regional partnership division.
Sagicor raids MMA for e-trading boss
Sagicor Underwriting has appointed Ian Josephs as head of E-Trading.
Warren Buffett plans to buy more Munich Re shares as he passes 10% threshold
Munich Re has today confirmed that Warren Buffett, and his various assets, now have 10% of voting rights in the company.