Lloyd’s/London
XL names Hendrick as strategic growth head
XL Group has appointed Gregory Hendrick as executive vice president, strategic growth, effective immediately.
Lloyd's backs Prince's Trust Insurance Leadership Group
The Prince's Trust Insurance Leadership Group has secured the backing of Lloyd's in a major funding deal for the next three years. Under Lloyd's new Brighter Futures for Londoners partnership The Prince’s Trust and the Bromley By Bow Centre will receive…
BP Marsh posts profit boost
Venture capital provider BP Marsh has announced consolidated profit of £1.4m for the first half for the financial year – up from a loss £1.8m last year.
Novae teams up with Lloyd's broker to launch new MGA Gladstone
Lloyd's broker Besso Group has launched a managing general agent named Gladstone Underwriting, to provide an online commercial underwriting facility.
Aspen hit by reserve strengthening in financial and professional lines
Aspen has announced that its insurance segment recoirded an underwriting loss for the third quarter, which excludes investment income, of $13.4m £8.5m) compared with an underwriting profit of $20.9m in the third quarter of 2009.
Willis Group nine month profit remains static at $357m
Willis Group has reported net income from continuing operations for the nine months ended September 30, 2010 was $357m ($226.4m), compared with $357m, in the same period a year ago.
AIG announces succession plan for CEO role
AIG has announced that chairman, Steve Miller, would step in as interim CEO of AIG for as long as it takes to identify and select a long-term replacement, if the incumbent Bob Benmosche is unable to continue in the role.
Postscript – 30 years ago: Lloyd’s waits on computer lease figures
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 30 years ago reveals.
Lloyd's Name's hidden gold
A former Lloyd's underwriter has had more than £1m worth of gold and cash seized by the New Zealand courts to pay for debts incurred almost 20 years ago.
Interview - Andrew Mckee: Planning for the next stage
Having taken over at Lloyd's insurer Mitsui, Andrew McKee talks to Jonathan Swift about his plans to move the company on, a decade after it launched.
Insurers accused of claim refusals over technicalities
More insurers are attempting to ease the financial burden of the economic downturn by repudiating claims on technical points, a specialist loss adjuster has claimed.
Paraline considers acquisitions and hires following launch
New Lloyd's venture Paraline has pledged to expand its geographical reach and range of products following its official launch last week.
Interview - Adrian Colosso: The comeback kid
Having come close to going bust in 2005, Daniel Dunkley talks to Heath Lambert's chief executive Adrian Colosso about the challenges facing the firm as it continues to punch above its weight.
Top 25 EC3 brokers - Commentary: Size is not everything
Olly Laughton-Scott looks at the rationales behind acquisition strategies, explores the maxim that size does not matter and that the disposal of business can be just as illuminating.
Postscript – 10 years ago: Xchanging in Lloyd’s and IUA tie-up
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight form ten years ago reveals.
IAG to retain Equity Red Star
Insurance Australia Group chairman Brian Schwartz has vowed not to sell its embattled UK business Equity Red Star.
APC unveils fast food insurance product
Underwriting agency APC has launched a bespoke take-away fast food franchise insurance product for Irish businesses.
Concerns raised over post-acquisition capital structure of Brit
AM Best Europe has placed the financial strength rating of A (Excellent) and issuer credit rating (ICR) of “a” of Brit Insurance and the ICR of “bbb” of Brit Insurance Holdings, the ultimate parent of the Brit Insurance group of companies, under review…
Brit reports 8.5% drop in GWP
Brit Insurance has reported an 8.5% reduction in gross written premium to £1.22bn for the nine-month period ended 30 September 2010 (3Q 2009: £1.33bn), a decrease of 9.0% at constant exchange rates.
Brit agrees cash offer with bidders
Brit Insurance has reached agreement with Apollo Management and CVC Capital Partners that will see the insurer’s shareholders receive up to £11 per Brit share.
AIG CEO Benmosche says he "feels fine" after chemotherapy
AIG has announced that its president and chief executive officer, Robert H. Benmosche, has been diagnosed with cancer and is undergoing aggressive chemotherapy.
Antares adds underwriter to treaty team
Lloyd’s managing agency Antares has appointed Fergus Reynolds as property treaty deputy underwriter.
Torus boosts Swiss professional lines team
Torus has appointed Michael Kuprianczyk as a professional lines senior underwriter based in Zurich.
Underwriting Service Awards 2010 - full shortlist
The final shortlist for the inaugral Underwriting Service Awards 2010 have now been released - with the eventual winners due to be revealed at a special awards dinner in London on 17 November.