Lloyd’s/London
Ukraine commits funds to keep flights going as insurers pull out
The Ukrainian government has committed UAH 16.6bn (£430m) to keep commercial flights moving through the territory as reports suggest insurers have pulled cover amid heightened tensions with Russia.
Travelers updates on coal stance; Hubb claims metaverse first; Thomas Cook signs insurance partnership; and Vitesse backed by HDI as it raises $26m
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Beazley cautious on property business as it works to 'get arms around' climate change
Beazley has said that it will not seek to increase exposure in its property book in the immediate term, as it takes measures to enhance its ability to assess and price for the effects of climate change.
Intelligence: Is it boom time for special purpose acquisition companies in the UK?
Although the mania for special purpose acquisition companies of early 2021 has subsided, investor enthusiasm persists and is in the process of going global. The losses directors’ and officers’ insurers can expect to flow from these types of companies…
EY: investor confidence in UK FS hits new high; James Hallam backs broker start-up; Lloyd's approves insurtech Syndicate and Pen inks £300m QBE deal
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Outlook deteriorating for UK non-life company market: Fitch
The market combined ratios for motor and home insurance will be north of 100% in 2022, Fitch has forecast.
Lloyd's to see Blueprint Two drive a 'fundamental difference' by 2024: Neal
Lloyd’s has set its sights on the second quarter of 2024 as the date at which the market will fully adopt a raft of digital solutions it is building to move away from paper-based trading and cut costs.
Trade Voice: Bila's Caroline Bell on why 2022 is the time for a renewed focus on wordings
Dr Caroline Bell, British Insurance Law Association committee member, and senior wordings counsel at Convex Insurance, reflects on the innovatory and future-proofing potential of policy wordings after a year that underscored that the words on the page –…
FCA lacks ‘precision’ and regulators need greater accountability, inquiry hears
London Market trade body representatives have told a Lords’ inquiry that the regulator’s ‘one size fits all’ approach to insurance must change and more accountability is needed.
Brokers fear market may later realise it has 'sleepwalked into irrelevance' as Lloyd's mulls HQ move
London Market participants have voiced concerns over the future of Lloyd’s of London as it considers whether to remain in its City of London headquarters.
WTW adds ex-Lloyd’s digital leader Lou Smith
WTW has appointed Lou Smith as commercial lines data strategy lead in its insurance consulting and technology unit.
Allianz: cyber usurps BI as biggest risk; Direct Commercial gets PE investment; Ford and ADT reveal JV Canopy; and Tractable launches AI Property
For the record: Post wraps up the major insurance deals, launches and investments of the week.
Lloyd’s adds Miller as commercial director
Dawn Miller has been named Lloyd’s commercial director from the second quarter of this year, joining from Chubb.
Lloyd's-IUA-DXC deal staves off headaches for London market participants
A deal struck between Lloyd’s, the International Underwriting Association and DXC Technology to deliver a processing platform averted a technological split that may have made the London market a less attractive destination for business, IUA chief…
Briefing: 10 insurtech start-ups to watch in 2022
For a seventh year running, Post content director Jonathan Swift scans the insurtech space and identifies a host of up-and-coming businesses potentially worth watching over the next 12 months and beyond.
Lloyd’s COO Jennifer Rigby to depart
Lloyd's chief operations officer Jennifer Rigby is leaving on 21 January with Burkhard Keese taking on the role in a new structure.
Ardonagh Specialty expands cross-class follow-capacity solution to $600m
Ardonagh Specialty has expanded its cross-class follow-capacity solution to include Price Forbes’ property business, Post can reveal.
Inquiry launched into commercial insurance and reinsurance market
The Lords' Industry and Regulators Committee has launched an inquiry into commercial insurance and reinsurance regulation.
Allianz in regional commercial restructure; GRS extends global reach with adjuster tie-up; Movo buys three; and Tractable strikes two new deals
For the record: Post wraps up the major insurance deals, launches and investments of the week.
Aviva strikes five-year motor deal with Prestige; Aston Lark inks two more deals; Adiona partners with Duck Creek; and Corvus reveals London market buy
For the record: Post wraps up the major insurance deals, launches and investments of the week.
Neil Robertson steps up to Canopius group CEO role
Canopius has appointed Neil Robertson as group CEO with Michael Watson continuing as group chairman.
Markerstudy to keep BGLI brands, staff and management after £400m deal
BGL Insurance is a “complementary fit” with Markerstudy’s existing distribution business and provides cross-selling opportunities as the firm grows to close to six million customers, according to group underwriting director Gary Humphreys.
Editor’s comment: Damned if you do and damned if you don’t
A New Year. A fresh start. Resolutions decided and hopes of a better – the best – version of me to come. Isn’t this how every year starts and yet how easy is it to do this? Most of us might change one thing or just take steps towards changing one thing…
Interview: Stephen Catlin, Convex
Harry Curtis spoke to Stephen Catlin, CEO and chairman of Convex, about how the insurer is looking forward, why cyber risks are a step too far and his response to climate critics