Lloyd’s of London
This week in Post: Thoughts with Texas
The world watched with horror last weekend as Hurricane Harvey made landfall, its high winds bringing devastation to Texas. It’s been downgraded to a tropical storm but the floods from its torrential rains continue to wreak havoc.
Lloyd's premiums predicted to decline
Premium growth at Lloyd's is likely to slow as competition intensifies and economic growth remains tepid, according to Moody's Investors Service.
Lloyd's syndicates file counterclaim against Kanye West
Multiple Lloyd’s syndicates have filed a counterclaim against singer Kanye West.
London Market insurers take fall after Harvey, no sign of ratings rise
Hurricane Harvey’s deluge of wind and rain across Houston and the Texas Gulf Coast hurt the shares of London Market property and casualty insurers on Tuesday as analysts peg insured losses as high as $20bn (£15.5bn).
Market veteran Ian Burford joins Fidelis as specialised risks chairman
Ian Burford is joining Fidelis’ London underwriting team as chairman of specialised risks.
Axis increases Novae takeover offer to 715p per share
Axis has improved its cash offer to acquire Novae to 715 pence per share valuing the Lloyd’s listed insurer at approximately £477.6m.
Deloitte partner Rakow fined £75,000 for misconduct
Deloitte partner James Rakow has been fined £75,000 for misconduct in relation to actuarial services provided to Equity Syndicate Management Limited.
Obituary: Mike Hannan, a ‘venerable institution’ of Lloyd’s
Mike Hannan, a “venerable institution” of the London insurance market, has passed away this week aged 74.
I work in insurance: Dr Edwin Rajadurai, Servca
Dr Edwin Rajadurai is an associate director with Lloyd’s broker Servca. He qualified as a doctor in 2011 from Lugansk State Medical University in the Ukraine.
Inga Beale elected CII president
Inga Beale has been elected the 121st president of the Chartered Insurance Institute at the professional body’s Annual General Meeting held in London today.
Novae and Axis boards give acquisition the green light
The boards of Novae and Axis have agreed the terms of sale that will see the Bermuda-based reinsurer take over the Lloyd’s carrier.
Ed goes live with new trading platform to complement PPL
London market broker Ed is rolling out its own digital trading platform that will complement Lloyd’s payment placement platform.
Kanye West sues Lloyd's syndicates for $10m over cancelled tour dates
Kanye West is suing numerous Lloyd’s syndicates for $10m over the artist’s cancelled tour.
Neon names Boorman head of financial lines
Specialty carrier Neon has named Charles Boorman head of financial lines.
Towergate takes aim at specialty market with Geo Specialty launch
Towergate Underwriting has set its sights on the London speciality market through the launch of Geo Specialty.
GDPR to boost UK cyber insurance take up, says Hiscox CEO
Incoming European data regulations will drive demand for cyber insurance in the UK, according to Hiscox’s CEO.
Dale Underwriting Partners receives Lloyd's nod on contingency SPA
Dale Underwriting Partners has been granted in principle approval by the Lloyd’s Franchise Board to establish a special purpose arrangement.
PPL update expected mid-September following delays
Placing Platform Limited, the London market’s electronic placing platform, will get its next update in mid-September, the platform's board has said.
Lancashire profit up at $67m in H1
Property and casualty insurer Lancashire reported an 18% rise in first-half pre-tax profit thanks to a benign loss period.
Market Moves: August 2017
Some of the movers and shakers in the market this month
Markel appoints Deepika Mathur to lead entry into Indian market
Markel International has appointed Deepika Mathur to lead its entry into the Indian market.
This week: Planning, predictions and packing
I am most definitely a planner. Being organised usually tops my list of attributes in appraisals and most of my life as a busy working mum is run by lists. In fact the holiday I'm just about to fly off to has been two years in the planning.
UK government releases final ILS regulations
The UK government has published regulations that will introduce a competitive regulatory and tax regime for Insurance Linked Securities.
Hannover Re completes acquisition of Lloyd's syndicate
German reinsurance giant Hannover Re has completed the acquisition of the UK holding company Argenta Holdings.