Lloyd’s/London
Analysis: Soft reinsurance renewals dash hard market hopes
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
Ten insurtech start-ups to watch in 2018 - part two
Today we feature a second quartet of businesses with their eye on the disruption prize, all of which will be worth watching out for as the year progresses.
AIG to buy Validus for $5.56bn
AIG has unveiled plans to acquire Validus Holdings for $5.56bn.
Beazley continues European expansion
Beazley has bolstered its specialty lines teams Munich, Paris and Barcelona as it continues to target European growth.
Steve Beslity to retire as chairman of Aon Global Marine
Steve Beslity, chairman of global marine at Aon Risk Solutions, is to retire by mid-2018.
Brexit and PPL top of the agenda for Liiba
The London and International Insurance Brokers’ Association is to focus on getting brokers signed up to electronic trading platform Placing Platform Limited over 2018.
Volante launches first London Market MGA
Volante has launched Edison Motor, its first London Market-based managing general agent.
Axis faces $130m nat cat loss in fourth quarter
Axis Capital estimates it will take a $130m hit as a result of fourth quarter catastrophe and weather-related losses.
Global run-off market 'extremely buoyant' at $730bn in 2017
The value of the global non-life discontinued business market exceeds $700bn, according to research from PWC.
Beazley predicts to beat analysts on 2017 earnings
Lloyd’s carrier Beazley said it expects to post a pre-tax profit for 2017, ahead of market expectations and in despite of hefty nat cat bills in the fourth quarter.
Nexus names insurance CEO ahead of potential IPO or sale
Nexus Group has named Mike Sibthorpe as CEO of its insurance and reinsurance business as the business gears up for a potential sale in 2018.
Single cyber attack could cost insurers more than Hurricane Katrina
Losses from a single cyber attack could see the industry fork out more than a major loss natural catastrophe like Hurricane Katrina.
Lloyd's to open Brussels hub in January 2019
Lloyd's will open its Brussels unit by January next year, according to reports.
Lloyd’s goes to court to stop climbers of its iconic building
Lloyd’s of London is to take on daredevil climbing enthusiasts by seeking an injunction to stop people from climbing its iconic Lime Street building.
Davies Group snaps up R&Q’s insurance management operations
Davies Group has bought Randall & Quilter’s Insurance Services and Captive Management Operations for £18.6m.
Legal expenses in Asia: Q+A with Antares' Mark Waters
Mark Waters, legal expenses underwriter at Lloyd's (re)insurer Antares, on promoting legal expenses cover for Asian businesses.
CNA Hardy appoints Middleton as CEO of Luxembourg hub
CNA Hardy has named Stuart Middleton as CEO of their Luxembourg subsidiary.
Blog: Driving efficiency and automation by breaking down data silos
Some underwriters are still reviewing data manually but Rodrigo DeCossio, UK insurance lead at Mark Logic, suggests 2018 might be the year to automate these processes and drive more efficiency in underwriting.
Beach snapped up by Acrisure
Acrisure is to acquire the independent reinsurance broker Beach & Associates.
US Reinsurance outlook remains negative, says AM Best
AM Best is maintaining a negative outlook for the US property and casualty reinsurance sector due to continued pressure on property catastrophe rates.
Munich Re covers Easyjet for flight cancellation
Munich Re and Easyjet have teamed up on a flight cancellation insurance product.
Fresh capital to make reinsurance rate rise short-lived
New capital entering the reinsurance sector will wash away any relief gained from rate rises at January renewals, Aon Benfield has said.
Axis to consolidate Lloyd’s business into Syndicate 1686
Axis Capital has initiated plans to consolidate its Lloyd’s business into Axis Syndicate 1686.
Cardinus CEO Andy Hawkes named IIRSM president
Cardinus Risk Management’s CEO Andy Hawkes has been elected president of International Institute of Risk and Safety Management.