Lloyd’s/London
Kelly quits ABI
The Association of British Insurers is on the hunt for a new director general following the announcement that Kerrie Kelly has stepped down.
Kiln appoints two in Asia
Insurance and reinsurance underwriters Kiln have appointed Paul Dreblow and Kenneth Leung to their team in Asia.
Aon broker who threw laptop into pond to cover tracks could face jail
A senior Aon broker who admits dumping a laptop in a pond to cover up his involvement in a major tender which potentially breached the terms of his gardening leave has been told he could face imprisonment.
Lloyd’s A+ rating affirmed by Fitch
Ratings agency Fitch has affirmed Lloyd’s of London’s Insurer Financial Strength rating at A+.
Apollo-Brit deal given 50:50 chance as PE house tipped not to raise bid
Private equity house Apollo is not expected to up its offer for Brit, meaning the chances of the deal being successful are 50:50, according to Jefferies International.
Lloyd's faces 12 month Chinese deadline admits CIO
Lloyd’s has been set a testing 12 month deadline by the Chinese authorities to establish its underwriting platform.
Oak forms alliance with Westinsure
High net worth specialist Oak Underwriting has agreed a deal with Westinsure Group to provide high net worth expertise to its UK network of independent brokers.
ABI DG Kelly jumped before she was pushed claims board member
The Association of British Insurers would have been forced to sack its former director general Kerrie Kelly if she had not resigned.
Lloyd's insurer opens Argentina office
Chaucer has opened a new office in Buenos Aires, Argentina, to access facultative property and related risks in Latin America on behalf of Chaucer Syndicate 1084.
Insurance industry urged to take up the professionalism challenge
The insurance industry was challenged to embrace professionalism, and in particular to embrace the Aldermanbury Declaration at the British Insurance Awards 2010 last week.
Xchanging agrees London market e-accounts deal
Business processing firm Xchanging has agreed a deal with the International Underwriting Association of London and the Lloyd’s Market Association to build an e-accounts capability for the London market.
Torus names PI manager
Torus' joint venture with Nexus Underwriting Management has entered the professional lines market with the appointment of David Robinson as professional indemnity manager.
Craig back in the ABI hotseat as Kelly departure confirmed
The Association of British Insurers has confirmed that Kerrie Kelly is stepping down from her role as director general to return to Australia for personal reasons.
Deal adds £10m to Dual's capacity
Dual Corporate Risks has created a strategic alliance with Newline Syndicate 1218 at Lloyd's.
Ace UK names new global markets president
Ace UK has named Matthew Shaw as president for Ace Global Markets and active underwriter for syndicate 2488.
Post in print - 15 July 2010
Post reporter Leigh Jackson outlines the main news from this week's issue of Post.
Willis, Munich Re and Allianz seal European windstorm deal
Perils AG, the Zurich-based company providing industry-wide European catastrophe insurance data, today announced that in the first six months of 2010 the total placements of insurance risk transactions based on Perils industry loss index exceeded $250m.
Singapore insurance market poses threat to London warns Marsh
The London market needs to think about how it is responding to the expanding Singapore market if it is going to be competitive with rates.
Postscript - 30 years ago: Women wait on Lloyd's for first time
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight form 30 years ago reveals.
Editor's comment: In search of a CEO
The news that Travelers chief operating officer Tony Dilley has left the UK business this week raised questions again about how the hunt is going for a successor to Martin Hudson, the business' CEO who departed in October 2009.
COO follows CEO out of Travelers UK
Travelers remained tight-lipped this week on the future of its UK management after it was hit by a second senior departure in less than a year when Tony Dilley stepped down as chief operating officer.
CEA concerned over EC insurance insolvency guarantee scheme
The CEA, the European insurance and reinsurance federation, has thrown its support behind the objective of protecting insurance policyholders and beneficiaries that underlies the package of measures the European Commission published yesterday.
Brit raids RSA to ramp up liability team
Brit Insurance has appointed Tom Taylor as liability portfolio management underwriter.
ECIC assigned AM Best rating
The Electrical Contractors’ Insurance Company - a division of EC Insurance - has been assigned a financial strength rating of A- (excellent) by AM Best.