Lloyd’s/London
Bruce joins UK General in bid to boost commercial – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including the appointment of Cathie Bruce to the newly created role of commercial managing director at UK General.
Lloyd’s pips AIG in surplus lines
The surplus lines industry suffered an unprecedented fourth year of declining premiums in 2010 and Lloyd’s knocked AIG off the top spot, according to AM Best.
Ellis Clowes opens Banbury office
Lloyd's insurance broker Ellis Clowes has opened its second office in Banbury.
Willis and XL move to e-accounting
The London-based operations of insurer XL Group and broker Willis are now using the Acord electronic accounting process between the two companies.
Former Lloyd's chair Taylor joins Jubilee as Ryan finalises deal
Ryan Specialty Group has completed the acquisition of specialist Lloyd’s insurer Jubilee Group Holdings and announced a host of key appointments.
PwC launch new scheme for Highland UK reinsurance creditors
Pricewaterhouse Cooper today announced that Highlands UK’s scheme of arrangement which dealt with the direct insurance business of the company, has, following its successful implementation, been formally terminated.
Canopius Omega bid best says adviser
A note from stockbroker Peel Hunt has dismissed the Haverford bid for 25%of Omega as the least attractive to shareholders of the three bids, preferring Canopius to Barbican.
Lloyd's and ABI band together on Solvency II
Lloyd’s and the Association of British Insurers’ are working together on a proposal that will allow the London market to push ahead with implementing Solvency II - even if it is delayed until 2014.
Buy Beazley/Lancashire, says adviser
Adviser Collins Stewart says despite Lloyd’s poor results it recommend buying shares in Beazley and Lancashire but issued warnings about Amlin and Hardy.
Market moves: All change at the trade bodies
With insurer moves slower than last week, this week has seen a number of changes among the trade bodies, with the Chartered Institute of Loss Adjusters, the |British Insurance Brokers’ Association and Federation of European Risk Management Associations…
American broker blames barriers to entry for lack of interest in London
Reinsurance broker Tiger Risk Partners UK has claimed to be the first US-owned broker to set up a London office since 2003, blaming the lack of interest on the UK’s “significant barriers to entry”.
Editor's comment: Overcoming the barriers
If there’s one thing we can say for sure this week, it’s that the latest round in the subrogation set-to over disputed motor repair bills will not be the last.
Broadgate acquisition is last for Torus
The recent acquisition of Broadgate Underwriting by Torus finalises a string of hires and acquisitions by the globetrotting insurer.
UBS rogue trader scandal lures underwriters back
The multi-billion dollar UBS rogue trader scandal has helped spark a rise in the number of underwriters willing to re-enter areas of high volatility exposure, according to a US professional lines expert.
News analysis: Private equity and the rules of attraction
Private equity firms continue to be enamoured with the claims industry — just why is this?
MGAA launch: Changing perceptions
Delayed since 2010, the Managing General Agents Association launched this month, with a brief to ensure the insurance industry and regulators understand exactly what role MGAs perform.
Lloyd's to only take on "inherently profitable" business plans
Lloyd’s has denied coming down harder on underwriters to write reasonably priced risks but admitted it will be more difficult to convince the market of profitable business plans.
Post Magazine - 22 September 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
London Market standing firm despite early setbacks
The London Market remains robust despite an unprecedented volume of large claims in 2011.
The Prince's Trust Insurance Leadership Group: A reflection on its successes so far
Tonight the Prince’s Trust Insurance Leadership Group celebrates breaking the £5m fund-raising barrier with a reception at the Chartered Insurance Institute. Jonathan Swift reflects on the group’s achievements in its five year lifespan.
RSA to head to High Court – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including RSA’s plans to head to the High Court in a bid to defend its policy of using a wholly-owned subsidiary for motor repairs, which has been found to add as much as 25…
Lloyd's chairman set to receive prestigious gold medal
Long-serving Lloyd’s chairman Lord Levene is to receive the institution’s gold medal in honour of his “tireless” contribution over the past decade.
Lloyd’s announces £697m interim loss
Lloyd’s made an interim loss before tax of £697m for the six-month period ending 30 June 2011, in what is already likely to be the second most expensive year ever for insurers.
Torus acquires Broadgate
Torus has entered into an agreement with Clal Insurance Enterprises Holdings to acquire London-based Lloyd’s Syndicate 1301 and its corporate members Broadgate Underwriting Limited and Broadgate Underwriting 2010 Limited.