Lloyd's/London
Liiba urges Prime Minister to rethink post-Brexit equivalence regime for brokers
The London and International Insurance Brokers’ Association has written to the Prime Minister raising concerns over the government’s planned equivalence regime for brokers post-Brexit.
Japanese flood losses pegged at $4bn
Insured losses from the June and July flooding in western Japan could total up to $4bn (£3.2bn), according to catastrophe modelling firm Air Worldwide.
2018 H1 insured disaster losses below average at $20bn
Global insured losses from natural catastrophes and man-made disasters during the first half of 2018 were $20bn, 33% below the ten-year average of $35bn, according to Swiss Re Institute's preliminary sigma report.
Lloyd’s managing agents call for greater ILS use
Some 80% of Lloyd’s managing agents would like to see insurance-linked securities become a permanent fixture in the reinsurance and insurance market.
Top 30 European insurers 2018: A year of steady growth for insurers
Overall, top-line growth for the 30 largest European insurers has been steady, reflecting the underlying economic conditions throughout Europe, explain Tim Prince and Yvette Essen, director of analytics and director of research at AM Best
FSCS arranges alternative cover for Alpha policyholders
UK policyholders with failed Danish insurer Alpha have been provided alternative cover via the guarantee scheme.
This Week in Post: Data, dissuasion and dirty toddlers
When my two-year-old licked the sole of her shoe, I tried not to laugh as that might encourage her. But she caught my badly repressed smile and… licked the second shoe. So much for deterrence.
Two ex-ERS underwriters fined for misconduct
Two former ERS underwriters, including one who described himself as a ‘non-standard motor guru’ have been fined for misconduct by Lloyd’s.
Analysis: Military recruitment: A call to arms
As insurance tries to attract talent and adapt to emerging risks, the London market is increasingly turning towards the military for new recruits
LMG names Lebecq as CEO
The London Market Group has named JLT Speciality operation director Clare Lebecq as CEO.
Brit profit dives 87.5% at H1
Brit’s pre-tax profit nose-dived 87.5% in the first six months of 2018 on the back of poor investment returns.
Blog: MGAs need to know how secure their capacity is
Managing general agents are facing a capacity crunch and the 'decile 10' initiative by Lloyd's to remove underperforming business is increasing pressure, explains Chris Hardcastle, managing director of Capsicum Delegated Authority.
GRP-backed brokers Lonmar and Ropner to merge
Lloyd’s brokers Lonmar and Ropner will merge at the end of the month under the Lonmar brand.
Interview: Jonathan Davidson, Financial Conduct Authority
Insurance has come under fire for the way it prices policies. Jonathan Davidson, director of retail at the Financial Conduct Authority, discusses the problem with Martin Croucher
Market must use consortium model to attack expense base, says Hiscox chair
Carriers in the London market must work together in consortiums to spread risk, combat rising expenses ratios and mitigate underwriting pressures, Hiscox chairman Robert Childs said.
Primary and Arch back Q3 launch of McNamee's insurtech C-Quence
Insurance investment vehicle Primary Group has today been revealed as the backer for the new digital-enabled managing general agent to be launched by former AIG UK CEO Jacqueline McNamee in autumn this year.
Hiscox Retail helps drive 27% boost in group profit at H1
Hiscox saw pre-tax profit climb 27% to $164m (£125m) in the first half of 2018, with the insurer’s retail arm contributing more than half of that figure.
This week in Post: Insurance industry captures the heart and mind of at least one Millennial
Two years ago, when I told my friends that I got a job as an insurance journalist, they were baffled. They still are.
Video: Pauline Miller (Lloyd's), Jason Groves (Marsh) and Matthew Fosh (Axis) on Dive In 2018 and #time4inclusion
Time for inclusion is the theme of the fourth edition of the Dive In festival, which will take place in late September to encourage diversity in the insurance industry.
Lancashire sees premiums and profit dip at Q2
Bermuda-based Lancashire saw profits slip 15% and gross written premiums dive 4.3% in the second quarter of 2018.
Former Lloyd's chairman calls for second referendum on Brexit
Former chairman of Lloyd’s John Nelson has called for a second referendum on Brexit, urging UK business to galvanise the public to understand “the true realities” of what the UK is facing.
Blog: Refresh outdated predictive modelling infrastructure by using the Cloud
Issues around the likes of data sovereignty have meant that predictive modelling has traditionally been managed internally. However, xx xx argues that this is more costly and makes businesses less agile, especially when major insurable events happen
Roundtable: Future-proofing claims for the digital age
Claims has not received as much attention as many front-end processes when it comes to investment, even though it is the moment of truth on which long-term policyholder loyalty can be built
FCA prepares for no deal Brexit
The Financial Conduct Authority has said that it is planning for a no deal Brexit and is hoping for a transition deal through late 2020.