Lloyd’s/London
IAG maintains silence on UK business sale
Insurance Australia Group has stressed that writing off its remaining goodwill and intangible assets in the UK business is not necessarily a sign that it will sell that division.
IT experts target six MGAs with new ‘shrink wrapped’ underwriting service
Insurance IT specialist Salmon has launched a new end-to-end underwriting service for managing general agent start-ups in a bid to make writing risk less “labour intensive”.
IAG sheds $300m assets ahead of potential UK business sale
Insurance Australia Group has written off AUD$297m (£196.6m) remaining goodwill and intangible assets associated with the UK business just months before it decides whether to sell its loss-making divisions.
Reinsurers take stock of Asia-Pacific risks
Reinsurers are bracing themselves for the next catastrophe in the Asia-Pacific region following the spate of catastrophes over the last two years, according to Fitch Ratings.
Aon boss sponsored by Nexus to ride in notoriously dangerous bike event
Aon associate director John Coleman is revving himself up ahead of the Manx Grand Prix this weekend, after bosses at Nexus Underwriting Management agreed to sponsor him to take part.
XL makes dual reinsurance promotion
XL’s reinsurance operations has appointed Mark Berry and Paul Simons to senior vice president and managing director, international property & specialty and senior vice president, head of US property treaty, respectively.
Canopius seals Omega deal
Private-equity backed insurer Canopius’s acquisition of Omega has completed today, increasing its annualised premium income to more than £1bn.
Liberty sets sights on specialist risks
Liberty Syndicates is setting up a new underwriting team to focus on specialty products headed up by Peter Smith.
Chaucer appoints new cargo class underwriter
Specialist Lloyd’s insurer Chaucer has appointed Geoff Wilkinson, pictured, to cargo class underwriter in the marine division of Chaucer Syndicate 1084.
Travelers snaps up Chartis boss for legal role
Travelers has appointed John Abramson to head of legal and compliance for its European businesses.
Amlin reports leap in H1 profit to £184.5m
Amlin has reported profit before tax of £184.5m in the first half of this year compared to a loss of £192.3m in the first half of 2011.
QBE records 26% increase in insurance profit in H1 2012
QBE Insurance Group made an insurance profit of $965m for the first half of the year ended June 2012, an increase of $203m on 2011.
Fitch upgrades Hiscox to A+
Fitch Ratings has upgraded Hiscox Group's core entities insurer financial strength rating to A+ owing to the Lloyd's player's "track record of profitability".
Cooper Gay appoints new divisional director
Lloyd's broker Cooper Gay & Co has appointed Mike Fraser, pictured, as divisional director of the professional risks claims team.
Lockton woos another ex-Lucas Fettes broker to Manchester operation
Clare Mackay is the latest Lucas Fettes broker to join Lockton's recently formed Lloyd's and London market unit in Manchester.
XL underwriting returns to profit
XL's property and casualty business has reported a rise in gross written premium in the first six months of the year to $4.08bn compared with $3.86bn in the same period in 2011.
Torus picks Northdoor IT solution for Lloyd's integration
Global speciality insurer Torus has selected Northdoor's NDEX insurance solution to assist with its London Market and Lloyd's operations.
Equinox hires new senior credit analyst
Lloyd's cover holder Equinox Global has appointed Michelle Barnes, pictured, to the post of senior credit analyst.
Low cat activity aids Munich Re recovery
Munich Re reported a group operating result of €2.3bn in the first half of the year, compared with a loss of €437m in the same period in 2011.
Lockton opens Brighton office
Lockton has opened a new office in Brighton to service clients throughout the south east.
Kiln sells South African operation to One Financial Investment Holdings
Specialist insurance and reinsurance underwriting group Kiln has agreed to sell Kiln South Africa to One Financial Investment Holdings for an undisclosed sum.
Lloyd's launches underwriting review
The Lloyd's Market Association is reviewing the way contingent business interruption cover is written in the Lloyd's market following a string of major catastrophes last year.
Cyber crime risks on the rise
Willis has warned that "ignorance is no defence" when it comes to ensuring that companies are protected against data breaches as the risk of cyber incidents increases.
APC launches professional indemnity offering
Commercial insurance underwriting agency APC has moved into the professional indemnity market, launching its first product to protect mortgage and finance intermediaries.