Capita and XL back Lloyd's-based Shariah-compliant start-up

Lloyd's of London building

A Shariah-compliant underwriting agency has been launched in the London market with the financial backing of Capita and the Bank of London & Middle East, and capacity provided by XL.

Lloyd's-based Cobalt Underwriting aims to provide Shariah-compliant insurance and reinsurance products globally. Its initial underwriting focus will be on property cover, with a maximum capacity of up

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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