Lloyd’s/London
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.
JLT sells 20% stake in South African unit to investment management company
JLT has sold a 20% stake in its JLT South Africa subsidiary to Thebe Investment Corporation for £164 842 as part of a strategic long-term agreement between the businesses.
Sidley Austin advises Munich Re on £300m longevity risk deal
Law firm Sidley Austin has advised Munich Re on its assumption through reinsurance of £300m of longevity risk from Pension Insurance Corporation.
Canopius promotes Bradley to UK retail COO
Canopius has promoted Richard Bradley, pictured, to chief operating officer for its UK retail business unit.
Novae calls time on engineering and motor reinsurance
Novae is to replace 12 of the 17 Zurich-based reinsurance underwriters who exited the business earlier this year, conceding that the Swiss operation was "overstaffed".
Novae investors relieved as reinsurance team is rebuilt
Novae's swift move to rebuild its reinsurance underwriting team in Zurich following the resignation of chief executive Gunter Saacke, chief underwriting officer Will Schuerch and a number of underwriters suggests that the company remains committed to…
Novae back in profit at H1 2012 as new strategy remains 'on track'
Novae Group has this morning reported a profit before tax, foreign exchange losses on non-monetary items and non-recurring items for the first six months of 2012 of £19.6m (H1 2011: loss £30.1m).
Randall & Quilter to launch Lloyd's Syndicate 1991
Randall & Quilter Investment Holding's managing agent RQMA has been given approval "in principle" by the Lloyd’s Franchise Board to form Syndicate 1991.
Plumeri admits Willis' mettle has been 'tested' as revenue remains flat
Willis Group has reported net income from continuing operations of $332m for the six months ended 30 June 2012, compared with $119m in the same period a year ago. Operating income increased to $496m (H1 2011: $395m).
Xchanging operating profit hits £14m, but results fall below expectations
Insurance solutions provider Xchanging posted a statutory operating profit of £14m for the first six months of 2012, representing an increase of £10.8m on last year.
Xchanging wins Tokio Millennium Re deal
Business process and technology services provider Xchanging has secured a contract to provide additional infrastructure services to global reinsurer Tokio Millennium Re (UK).
Canopius primed for Bermuda departure amid Tower merger
Canopius will exit its existing Bermuda reinsurance operations after New York-listed Tower Group exercised its option to merge.
Industry role for Canopius claims boss
Mike East, head of operations and claims at Canopius Managing Agents, has been named as the new chairman of the Lloyd's Market Association's claims committee.
Willis opens Spanish super-yacht broker
Willis Group Holdings has outlined plans to open a super-yacht insurance broking office in Barcelona.
Hiscox UK falters while group profit soars
Hiscox returned an interim pre-tax profit of £125.8m (H1 2011: loss £85.6m), following a more benign catastrophe season compared with the previous 12 months.
Childs to succeed Hiscox as chairman
Hiscox chief underwriting officer Robert Childs is to succeed Robert Hiscox as chairman of the Bermuda-headquartered insurer.
Ace boss heralds international pricing turnaround with 88.9% H1 COR
Ace has reported that income excluding net realised gains jumped to $1.44bn in the first half of 2012 (H1 2011: $932m).
Aon profits fall 4% at the half year to $503m
Aon has reported that total revenue for the six months ended 30 June 2012 grew 2% to $5.66bn (H1 2011: $5.57).
JLT profit grows 11% as UK economy woes stall Thistle growth
Revenue at Jardine Lloyd Thompson Group grew 7% in the first six months of 2012 to £441.7m, including a 6.3% increase in revenue generated from organic growth, compared with the same period in 2011.
Escott quits Capita
Capita's general insurance managing director, Brent Escott, pictured, has left the business by "mutual agreement" after seven months in the job.
Olympics: Claims from the games
Terrorism, adverse weather and the outbreak of disease could all cause the cancellation of the Olympics. But could the industry cope if the Games were canned?
Hiscox combines media, entertainment and events operations
Specialist insurer Hiscox has merged its global media, entertainment and events operations in response to the changing nature of the sector.
Clyde & Co partner goes live with new City law firm
David Coupe, pictured, former partner at Clyde & Co and Ince & Co, has launched a new City law firm focused on representing the intermediated insurance market.