Lloyd’s/London
Lloyd's stung by £516m loss
Lloyd's has revealed a pre-tax loss of £516m in its full year results following the "second costliest year" for catastrophes in the industry.
Omega shareholders to reject Catalina offer
Omega shareholders could shun run-off business buyer Catalina Holdings' acquisition offer.
Nexus Underwriting sets up new Lloyd's MGA
Nexus Underwriting has launched its new Lloyd's managing general agency, Nexus Professional Risks.
LMA to put co-lead binder claims on ECF
The Lloyd's Market Association has launched a project to increase the volume of co-lead binder claims being managed using the market's ECF electronic claims handling system.
Lloyd's delays Solvency II request to FSA
Lloyd's has delayed applying to the FSA for approval of the market's internal model from April to July.
European sovereign debt hits insurer profits
2011 was the worst year on record for natural catastrophes, yet it was cracks in the Dow Jones, faults in the FTSE and tremors on the Hange Seng that bothered many insurers more.
Market moves: UK General and Towergate lead the pack
Insurer UK General and broker Towergate were the main movers and shakers this week, appointing a new chief operating officer and director of group mergers and acquisitions respectively.
Bloodstock insurance: a breed apart
Recent horse sales in Newmarket and Kentucky, and last week's Cheltenham festival, have brought bloodstock insurance back into the limelight
Repairing a reputation: interview with Xchanging's Max Pell
After the disastrous purchase of Cambridge Solutions, Xchanging is ready to fight back, move out of the shadow of shareholder Lloyd's, and secure its future, as managing director of insurance Max Pell explains.
Hardy advised by Debevoise & Plimpton over sale
Hardy Underwriting is being advised Debevoise & Plimpton over the insurer's £143m deal with CNA.
Cash deal and incumbent Hardy bosses swung CNA deal
CNA's decision to keep Hardy chief executive Barbara Merry and chief underwriting officer Patrick Gage along with the cash deal secured the deal.
Ecclesiastical reveals £16m underwriting loss
Ecclesiastical has blamed a pre-tax loss of £7.7m and an underwriting loss of £16.1m on the eurozone and Australasian catastrophes, but plans to increase premiums in Australia.
Beazley takes 25% stake in Equinox Global
Lloyd's insurer Beazley has taken a 25% stake in Lloyd's cover holder and trade credit insurance specialist Equinox Global.
Ex-Kiln Bermuda CEO Haynes handed non-exec role at Tysers
Lloyd's broker Tysers has today announced the appointment of finance expert Peter Haynes as a non-executive director.
Cunningham Lindsey staff told investors seeking buyer for loss adjuster
Global claims management group Cunningham Lindsey has told staff that its investors are looking to find a new owner for the business, Postonline understands.
Mitsui Sumitomo expands construction team with Burgess hire
Lloyd's insurer Mitsui Sumitomo said it has strengthened its commitment to the UK construction market by appointing Adrian Burgess as underwriter.
Insurers still wary despite Solvency II deal ahead of vote next week
The European Parliament's two biggest parties have tentatively agreed to include measures related to Solvency II legislation that could save the industry billions and avoid a long delay to the rules' implementation, according to reports.
Market moves: Insurers are the main movers
Insurers were, once again, the main movers and shakers this week, Ecclesiastical leading the way with the appointment of four new directors, while Allianz, QBE, XL and Arc Legal also welcomed new staff.
Comment: The risk of irrelevance
A recent report paints a bleak picture for the future of insurance.
Don't miss Budget Day Live - analysis today at 3pm
Incisive Media's impressive range of brands serving the financial services sector are collaborating today to bring financial services professionals the very best analysis of George Osborne's Budget Statement.
Charles Taylor goes live with MGA service
Charles Taylor Insurance Services has launched a new service enabling independent underwriters to establish their own managing general agents.
View from the top: New syndicates essential if Lloyd’s market is to thrive
As Lloyd’s tackles the thorny issue of distribution, perhaps a fundamental issue is that it must encourage the market to continue to rejuvenate by enabling the creation of new syndicates.
Lloyd's ECF claims pass 80% target
The percentage of insurance claims managed but Lloyd's Electronic Claims File system has reached 83%, an 8% year-on-year increase.
Comment: Mind the Watford Gap
Web-based technology means the Lloyd's market can afford to look beyond London