Lloyd’s/London
Aspen records $151.7m loss in Q1 as profits hit by cat losses
Aspen has recorded a net loss of $151.7 million, including losses of $255.9 million, net of reinsurance recoveries, reinstatement premiums and taxes, resulting from the natural catastrophe events that occurred in the first quarter of 2011, down from net…
Hanover confident Chaucer bid momentum will not stall
US firm The Hanover Insurance Group remains confident it will succeed in its bid for Chaucer, despite Pamplona's refusal to sell its stake in the Lloyd's insurer.
Bolt concern over charges
Bosses at Lloyd's insurers have received a letter from director of performance management Tom Bolt, addressing fears over extra broker remuneration charges.
Post magazine – 28 April 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Marketform adds to marine team
Lloyd’s insurer Marketform has confirmed that underwriter Gary Cooke will join the company on 1 June as head of marine cargo underwriting.
Equity expansion still on track despite 185 jobs under threat - Insurance News Now – 28 April 2011
Post news editor Mairi MacDonald outlines this week's major general insurance stories including Equity Insurance Group’s insistence that its branch network and plans for regional expansion are safe, despite putting 185 jobs within it’s underwriting and…
Holman's disposes of business as regulation increases
Foster Denovo has agreed a deal to acquire the IFA business of independent Lloyd's brokerage firm John Holman & Sons.
London Chamber of Commerce warns confidence is slipping
Companies in the capital endured a tough start to the New Year according to the London Chamber of Commerce and Industry’s latest Quarterly Economic Survey.
Claims boss David Williams take up new MD role at Lloyd's agency
Argenta Private Capital, the Lloyd’s Members’ Agency subsidiary of Argenta Holdings, has appointed David Williams as managing director.
Chartis MD takes up board role with Lloyd's insurer Ascot
Ascot has appointed two new executive directors, Yvonne Keyes and Mark Smith, and one new non-executive Director, James Shea, all of whom joined the board of Ascot Underwriting this month.
Chubb reports $270m cat hit in Q1 2011
Chubb has reported that the impact of catastrophes in the first quarter of 2011 was $270m (£164m) before tax. This figure includes the winter storms in the US, flooding in Australia, and earthquakes in New Zealand and Japan.
Travelers Q1 NWP down overseas as a result of Lloyd's action
US insurance giant Travelers has reported that its international arm saw a 20% decrease in net written premiums to $255m (£155m) in the first quarter of 2011 compared to the prior year quarter.
Broker UIB reveals involvement in Space Shuttle insurance coverage
United Insurance Brokers and Space Partnership International have revealed that they have placed insurances for commercial payloads flying on the penultimate STS Shuttle mission (STS134), currently scheduled for the 29 April.
Beazley boss still expects mid 90s COR despite major losses
Lloyd's insurer Beazley this morning said premiums reduced by 3% to $426m (2010 $438m) in the first three months of 2011, with premium rates on renewal business decreasing by 1%.
Chaucer rating unchanged as largest shareholder rejects bid
AM Best Europe has said that the financial strength rating of A (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084 and the ICR of “bbb” of Chaucer Holdings are unchanged following the announcement that the board of CH has…
Brightside looks to diversify as talks held with Arch
Brightside is in talks to add Arch Capital to its panel of commercial insurers, as the broker aims to move into a series of new risks in its commercial portfolio.
Confusion over Solvency II as FSA revises model plans
Solvency II experts have voiced concerns over the uncertainty surrounding the incoming European Union legislation, after the Financial Services Authority revealed revised plans for its handling of internal model applications.
Directors jailed for £1m insurance fraud
Two directors at the centre of a £1m insurance fraud have been jailed for a combined sentence of 10 years at Southwark Crown Court.
Post history - 30 years ago: Insurers face £10m bill for Salem loss
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this article from 30 years ago reveals.
Lloyd’s names Lord Levene successor
City veteran John Nelson is set to take over from Lord Levene as chairman of Lloyd’s in October.
TfL confirms insurance panel
Transport for London has selected 27 insurance companies that will provide its cover in an agreement worth a combined £24m.
Post magazine – 21 April 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
MoJ and mobile operators join forces to eliminate text pests - Insurance News Now – 21 April 2011
Post news editor Mairi MacDonald outlines this week's major general insurance stories including an announcement that the MoJ is to set up a dedicated working group with the UK’s major mobile firm operators to tackle the problem of unsolicited text…
Chaucer accepts Hanover bid
US firm The Hanover Insurance Group has had a £313m bid to acquire Chaucer accepted.