Lloyd’s/London
Airmic’s basis contract clause campaign bolstered by heavy hitters
Lloyd’s market remains reticent to address elimination of avoidance clauses.
Haste tipped for the top at Lloyd’s as insiders claim job ‘is his for the taking’
Ward praised for maintaining strength of market during tenure.
Editor's comment: The spectre of Spitzer returns
In 2004, the US insurance broking industry came under attack as then New York Attorney General Eliot Spitzer declared war — with allegations of kickbacks, rigged bids for insurance contracts and opaque practices, including contingent commissions.
Market Moves: High-profile moves come to the fore at Bluefin and Covéa, while Markel hires two
Another hectic week saw the usual suspects come to the fore with high-profile moves at Bluefin seeing the broker’s CEO stepping up to the role of executive chairman, while at Covéa a new SME leader will be reunited with a former Brit colleague who joined…
Employment: Port in a storm?
Does the insurance sector’s resilience in a difficult economic climate make it a safe haven for employees, or are industry staff in as much peril as the rest of the UK workforce?
Cosmos Services acquires 15% stake in SART
Hong Kong-based broker Cosmos Services has acquired a 15% stake in SART Holdings, the Hong Kong based business of Aquila Underwriting.
Torus unveils new CEO as it is sold to Enstar for $692m
Global specialty insurer Torus has appointed Dermot O’Donohoe as group chief executive officer of Torus Group, in addition to his role as chief executive of Torus International, following the acquisition of the group by Enstar.
View from the Top: Regulators need our help
By working together we can sort out insurers’ tarnished image and cut the bureaucracy, says Robert Hiscox, honorary president, Hiscox
Chaucer adds aerospace specialist to aviation team
Lloyd’s insurer Chaucer has appointed Anna Dedman to specialise in the aerospace sector as part of its aviation team at Chaucer Syndicate 1084.
Brit adopts Xchanging’s Fees Direct Plus
Xchanging, the business process, procurement and technology services provider has today announced Brit Insurance as a customer of its enhanced Fees Direct offering, Fees Direct Plus.
LMA unveils new binding authority agreements
The Loyd's Market Association has reduced the number of wordings of binding authority agreements from nine to three, following a following an 18-month long review.
Tysers acquires construction broker
Tysers has acquired a stake in construction broker MLW & Associates, in a move to expand its construction liability business.
Lloyd’s building sold in £260m Ping An deal
The Lloyd’s building has been sold by present owner Commerz Real to a Chinese insurer in a deal worth £260m.
British Insurance Awards 2013: Achievement Award
Long time coming
Lloyd’s CEO Ward stepping down by 2014
Lloyd’s chief executive Richard Ward is to depart his role at the London market before the end of this year.
Market Moves: Hires at RSA, Keelan Westall and MGAA among the week’s major moves
Moves within the insurer and broking spaces once again dominated the recruitment radar this week, as RSA unveiled high-profile changes within both its boardroom and its London market offering. Keelan Westall, meanwhile, moved to reinforce its growth…
Crawford unveils specialty markets offering
Loss adjusting giant Crawford has pulled back the curtains on new specialty markets services for the London and international adjusting markets.
Prosight appoints ex-QBE director to board
Prosight Specialty Underwriters has appointed Mel Goddard as non-executive director with immediate effect.
Sequel appoints non-executive director
Insurance software specialist Sequel has named Peter Droussiotis as a new independent non-executive director on 1 July 2013.
Ferneyhough joins Brit as strategy director
Brit has appointed insurance analyst Joy Ferneyhough to the newly created role of director of strategy and corporate development.
Mitsui Sumitomo sees Lloyd’s syndicate profits climb 50%
Pre-tax profits at Mitsui Sumitomo’s Lloyd’s syndicate climbed from £11.99m to £18.05m in 2012, up 50%.
Godsoe to solely lead RSA’s London cargo business
David Godsoe is to solely lead RSA’s London market cargo business after jointly managing it for 18 years.
Xchanging boss plays down fears firm is on precipice of personnel exodus
Pell eager to outline company’s plans after losing Lloyd’s claims monopoly.
Fitch raises Lloyd’s outlook to positive
Lloyd’s has seen its Fitch ratings affirmed with an improved outlook, climbing to positive from stable after the rating agency noted reduced earnings volatility.