Lloyd’s/London
Hiscox inks Xchanging fees management contract
Hiscox is targeting improved fee turnaround with a deal that will see Xchanging provide management information.
Former Lloyd’s CEO Prettejohn steps down from PRA
Former Lloyd’s chief executive and Brit chairman Nick Prettejohn is to step down from the board of the Prudential Regulatory Authority.
Ascot profits down 14% for 2013
AIG-backed Ascot Underwriting has announced profits down 14% for 2013.
Novae optimistic on organic growth through 2014 says Fosh
Novae group chief executive Matthew Fosh has said the insurer and reinsurer is cautiously positive on prospects of further economic growth this year, in spite of “minefields”.
Novae's underwriting profit climbs 50%; pays special dividend
Novae Group's underwriting profit was £48.9m last year, an increase of 50% over 2012 when it recorded £32.6m. As a result the Lloyd's insurer is paying a special dividend of 20p a share.
Mergers & Acquisitions: Buying with Confidence
2013 saw a rise in the number of mergers and acquisitions deals in the general insurance sector. Is this trend likely to continue, and where will firms look to grow their businesses?
Bryant touted as Lloyd's Hong Kong frontrunner after leaving Zurich
Dylan Bryant is being touted as the frontrunner to become Lloyd's general representative in Hong Kong after leaving his role as regional head of IPZ customer, distribution and marketing, Asia-Pacific, Zurich.
Ascot signs five-year claims deal with Xuber
Ascot Underwriting has signed a five-year deal with Xuber, Xchanging’s insurance software business, for the provision of claims.
Lancashire must convince investors of merits of Cathedral takeover
Bermudian insurer Lancashire must work hard to persuade investors of the merits of its Cathedral acquisition, following a lower than expected dividend pay-out to investors, according to Westhouse Securities.
Ambant tackles client monies trapped in brokers' loss funds
Ambant has launched a loss fund service, which aims to tackle millions of pounds sitting unproductively in unreconciled, lost, forgotten or inaccessible loss funds held by brokers and third party claims administrators.
R&Q warns profits to be hit by 'slow premium growth'
In a trading update issued ahead of its 2013 results, Randall and Quilter has warned that its live syndicate 1991 has shown slower than expected premium growth, with this likely to impact the group’s full year.
Capita takes second MGA stake
Capita has taken an equity stake in a managing general agent for the second time, investing in Infinity Agency Limited.
Digital Currency: Currency in the cloud
Interest in digital currencies has been piqued as technology pioneers begin to research the insurance possibilities.
Legal update: Fraud: Fraudster jailed for nine months after surveillance proves exaggeration
Leanne Revitt examines a case where a claimant grossly exaggerated his injuries.
LMA to launch Lloyd’s claims review
The Lloyd’s Market Association has unveiled plans for a review into the quality of claims management in the London market.
LMA demands rapid Competition Commission progress
The Lloyd’s Market Association is pushing for speedy reforms from the Competition Commission’s investigation into motor insurance, suggesting the body circumvents legal change.
Hardy CEO Merry replaced by Brosnan with immediate effect
Hardy has announced that Barbara Merry is to depart the insurer with immediate effect, replaced as chief executive by senior vice president of international, David Brosnan.
Kiln buys 49% of Lloyd’s cyber coverholder NAS
Kiln has purchased a 49% stake in NAS Insurance, one of the largest cyber producers in the Lloyd’s market.
C-Suite: Insurer: Are we truly diverse?
A diverse workforce brings benefits to staff and positively influences corporate culture.
Towers Watson adds to P&C team with senior hires
Towers Watson has appointed Charlie Kefford and Kirsty Gray to its UK property and casualty insurance senior management team.
Beazley recruits Ark’s Gray as specialty underwriter
Beazley has named Ark Syndicate’s James Gray as a new specialty underwriter.
Qatar Insurance Company buys Antares
Qatar Insurance Company is to enter the London market following the acquisition of the entire share capital of specialist insurer and reinsurer Antares.
Lancashire CEO praises ‘strong close’ to 2013 despite profit decline
Lancashire has recorded a 6.2% decrease in gross written premium for the year ended 31 December 2013 writing $679.7m (£408m) compared with $724.3m the year before.
ANV promotes Thorpe to lead syndicates’ claims team
Dutch-headquartered insurer ANV Holdings has promoted Jonathan Thorpe to lead a unified claims team for its syndicates 1861, 5820 and 779.