Lloyd’s/London
RFIB sees 13% growth
Lloyd's broker RFIB has credited its 13% growth in turnover for the year ended 30 June 2010 to the performance of its marine and reinsurance divisions.
Foreign interest in UK firms rose over 2010
Interest from overseas in UK financial services and insurance companies has improved this year after the credit crunch caused investment and merger and acquisition activities to slow in 2009.
Legal review of the year: Less doing more
Consolidation among insurance law firms was the hot topic for 2010, as they try to meet insurers' demands. Veronica Cowan reports on an interesting year.
Broking review of the year: A breakdown in momentum
2010 was a fairly low key year for the broking market, as the sector kept a low profile during the financial turmoil. Daniel Dunkley reports on the opportunities that were taken up and deals made.
Chaucer ups underwriting interest in Lloyd's by 7.65% in 2011
Chaucer Holdings, the Lloyd's specialist insurance group, today announced that following completion of the Lloyd's coming-into-line process, including reinsurance arrangements, its total underwriting interests will be £707.2m for 2011.
Hardy Underwriting opens in Asia
Hardy Underwriting Bermuda Limited has announced the commencement of underwriting operations at Hardy Underwriting Asia within the Lloyd's Asia platform.
Barbican wins approval to act as a Lloyd's managing agency
Barbican has obtained conditional approval from Lloyd’s and the Financial Services Authority to act as a managing agency at Lloyd’s.
Brokers face North-South divide over M&A activity – Post in print: 2 December 2010
Senior reporter Leigh Jackson outlines the main news from this week's issue of Post, which includes claims that brokers in the ‘resilient South’ are standing their ground when it comes to getting the price they want for a sale, creating a divide between…
BMS recruits former Benfield head to expand liability arm
BMS has appointed Theresa Schugel as executive vice president to lead the expansion of its global specialty casualty practice which has expertise in medical professional liability, lawyers’ professional liability, workers compensation, D&O and other…
Swiss Re: insured losses up 34% to $36bn in 2010
According to initial estimates from Swiss Re’s sigma team, worldwide economic losses from natural catastrophes and man-made disasters were $222bn in 2010, more than triple the 2009 figure of $63bn.
Markel CEO to take two months out for medical treatment
Markel Corporation has announced that chairman and chief executive officer Alan Kirshner may be absent from the corporation's offices for most of December and January while receiving medical treatment.
White Oak seals Daimler deal
Specialist motor and equipment underwriting agency White Oak Underwriting has acquired the Daimler Truck Financial physical damage and related insurance business in the US.
Amlin awarded gold chartered status
Amlin Underwriting has become the first London market insurer to achieve the gold standard of corporate chartered insurer status.
ECIC appoints underwriting head
The Electrical Contractors’ Insurance Company has appointed Agneta Desouza as underwriting manager.
Cooper Gay restructures in London
Cooper Gay has restructured its London based marine and energy reinsurance team in a bid to continue growing its market share.
Ascot swoops for rival Lloyd's insurer Jubilee's motor book
Ascot Underwriting has acquired the renewal rights for Jubilee Managing Agency’s commercial motor account, the company announced today.
Detica warns MGAs over SII data challenges
Information intelligence firm Detica has warned Lloyd’s managing agents not to underestimate the data management challenges of the Solvency II directice.
Hardy outlines share buy-back programme and third party capital deal
Hardy today announces that it has entered into an agreement for the provision of third party capital to syndicate 382 for the 2011 year of account.
Lloyd’s research winner aims to predict future hurricanes
New research that aims to predict hurricane activity years in advance has won a forecasting specialist from the Met Office, the inaugural Lloyd’s Science of Risk prize.
Brit announces board member's departure date
Brit Insurance has today announced that Matthew Scales will step down as a board member on Monday 20 December 2010 following the Extraordinary General Meeting on Friday 17 December 2010.
Willis relocates Bristol staff to new office
Willis has moved its Bristol staff to a new office at St Catherine's Court in Berkeley Place, Clifton.
Lloyd's broker RFIB's pre-tax profit falls 32% to £3.2m
Lloyd's broker RFIB Holdings has revealed its turnover (which includes fiduciary interest as well as brokerage) grew 13% from £38.3m to £43.5m for the year ended 30 June 2010.
Lloyd's opposes SII transitional stage
Lloyd's has criticised plans by the Committee of European Insurance and Occupational Pensions Supervisors to stagger implementation of the Solvency II directive beyond January 2013.
Insurers dismiss concerns over 10% discount offers
Commercial lines insurance providers promoting 'special offer' end-of-year premium rates have hit back at criticisms from the market.