Lloyd’s/London
SBJ Global Risks completes re-branding
Formerly trading as SBJ Global Risks, Lonmar Global Risks was launched yesterday as a new independent broking organisation operating globally from its London Base.
Renaissance Re, Everest Re deliver loss estimates
Bermudian reinsurers Everest Re and Renaissance Re have said that they will be hit by losses from the Chilean earthquake earlier in March.
Mutual body blasts solvency II plans
"If the principle of proportionality introduced by Solvency II does not work in practice, we are likely to see aggressive market consolidation," claims AMICE boss.
Omega claims gains elsewhere offset Lloyd's reduction
The group's gross premium income remained almost static on US$265.8m (2008: US$265.4m), although Omega claimed to nhave seen "significant growth in new operating platforms in Bermuda and US".
IRM embraces social media
The Institute of Risk Management has launched an online resource centre to equip members with free access to tools, templates and information to assist them with each stage of the risk management process, as well as implementation of effective risk…
Bolt warns underwriters of claims increase
Lloyd's recently appointed director of performance management Tom Bolt has warned underwriters to prepare for an increase in claims from financial institutions.
Commission disclosure fear for brokers seeking IPO
Brokers planning to list on the London Stock Exchange should be wary of potential changes to commission disclosure rules, KPMG warned this week.
Chaucer redomiciliation likely over tax fears
Chaucer has indicated that high corporation tax in the UK could force it to redomicile to Switzerland, Bermuda or Ireland in 2011, despite posting an increase in profit of £134.8m for 2009.
Hardy sees profits rocket before exchange
Bermuda-domiciled insurer Hardy has reported a steep increase in profit before tax and foreign exchange movements of £26.7m (2008: £4.4m), in contrast to a slight dip in profit before tax of £20.1m (2008: £23.1m). The combined ratio before foreign…
Axa Corporate growth
Axa Corporate Solutions posted a 2.3% growth in 2009 turnover on a comparable basis, reaching E1.93bn (£1.75bn), while underlying earnings were up by 17% at E133m
Novae pre-tax profit fall
Novae Group has posted a 35% fall in adjusted pre-tax profit in 2009, hurt by aviation reinsurance and credit losses in the first half of the year.
Beazley Furlonge results
The board of managing agency Beazley Furlonge has announced its results for syndicate 623, which writes business on behalf of third party capital at Lloyd's.
QBE shakes up European arm
QBE Europe has puts its asset protection book into run-off, following a restructure of its product underwriting and distribution model.
Total 100% liable
Insurers have moved closer to recovering an estimated £750m in claims from Total, stretching back to the Buncefield oil depot explosion.
Ambant appoints former FSA associate to head up new unit
Ambant has created a new business practice to help brokers and underwriters respond to scrutiny from the Financial Services Authority.
View from the top: The tipping point
In his best-selling book The Tipping Point, Malcolm Gladwell says that ideas and behaviours spread like viruses, and that intervention (or a nudge) at just the right point — the tipping point — results in a cascade of change.
Swiss Re gives quake and Xynthia loss estimates
Reinsurer claims losses for the European winter storm to be approximately $100m.
Glacier reports $34m growth in net income
Glacier has reported net income for 2009 up to $60m and a total gross written premium decline pf 17% from 2008.
PYV launches investment fund division
Lloyd’s professional indemnity insurance broker launches business unit to offer bespoke insurance products and services for traditional and alternative funds.
The Aldermanbury Declaration - is it the way forward?
Post, as part of its Investing in the Profession Campaign, is hosting this week a special, live, and interactive, online debate on the insurance industry's latest initiative to boost professionalism - The Aldermanbury Declaration.
Liberty raids Marsh for Hogg to lead strategic assets arm
The arm aims to develop and underwrite a range of specialist risks including intellectual property, reputational risks, cyber insurances and non-material damage business interruption.
Marsh to take $600m hit on Kroll disposal
The Financial Times reports The Carlyle Group, Apax Partners and General Atlantic have all entered bids by the deadline for first expressions of interest in late February.
Beazley delivers syndicate result
The board of managing agency Beazley Furlonge has announced its results for syndicate 623, which writes business on behalf of third party capital at Lloyd’s.
Jubilee backs scheme for rally drivers
Jubilee Managing Agency has been appointed to provide an amateur motor sport personal accident scheme for amateur race and rally drivers who hold Motor Sport Association competition licences.