Lloyd’s & London Market

Brit in Lloyd’s Exchange first

Mon, 09 Nov 2009 00:00:00 GMT

Brit Insurance said Monday that it has become the first insurer in the Lloyd’s market to both endorse a risk and bind a new risk via the Lloyd’s Exchange

Economic exposures holding Beazley back

Mon, 09 Nov 2009 00:00:00 GMT

Lloyd’s insurer Beazley said Monday that revenues grew by 45% in the first nine months of the year, after benefiting from acquisitions and a strengthening US dollar.

Hiscox boosted by international growth

Mon, 09 Nov 2009 00:00:00 GMT

Lloyd’s insurer Hiscox said nine-month sales rose 32% on higher revenue from its international operations.

Markel appoints property underwriter

Fri, 06 Nov 2009 00:00:00 GMT

Markel International has appointed Emma Brown as senior underwriter in the non-marine property division.

RBSI posts profits of £1.2bn

Fri, 06 Nov 2009 00:00:00 GMT

RBS Insurance, the insurance arm of RBS being spun off as part of its efforts to comply with European Commission State Aid requirements, Friday reported an increase in third-quarter profits.

Catlin hails rising premiums

Thu, 05 Nov 2009 00:00:00 GMT

Bermuda-based Lloyd’s insurer Catlin Group said Thursday that gross written premiums increased 5% in the first nine months of the year, while it experienced rate increases of 6% across its book.

QBE adds two to Leeds team

Thu, 05 Nov 2009 00:00:00 GMT

QBE has boosted its property and motor trade teams in Leeds.

RSA eyes “encouraging signs”, NWP up

Thu, 05 Nov 2009 00:00:00 GMT

RSA, the UK’s largest non-life insurer, reported a 4% increase in net written premiums for the third quarter, despite contending with challenging economic conditions.

Climate change to cost insurers: ABI

Wed, 04 Nov 2009 00:00:00 GMT

Property insurance could become more expensive and harder to obtain as a result of global climate change, according to a new report published by the Association of British Insurers.

ABI appoints new director general

Wed, 04 Nov 2009 00:00:00 GMT

Kerrie Kelly is to replace Stephen Haddrill as director general of the Association of British Insurers in February 2010, the UK trade body said Wednesday.

Aviva sales miss estimate, improves margin

Wed, 04 Nov 2009 00:00:00 GMT

Aviva, the UK’s second largest insurer, said Wednesday that profitability increased in its primary UK life and pensions market in the third quarter, despite sales falling by 11%.

RBS to sell insurance arm in restructure

Tue, 03 Nov 2009 00:00:00 GMT

Royal Bank of Scotland has confirmed that it will spin off its insurance arm as part of its efforts to comply with European Commission State Aid requirements.

Brit appoints outwards reinsurance head

Tue, 03 Nov 2009 00:00:00 GMT

Brit Insurance has recruited Reinhard Seitz from Swiss Re as head of outwards reinsurance.

RBS may be forced to sell insurance arm

Mon, 02 Nov 2009 00:00:00 GMT

Royal Bank of Scotland today warned that the European Union is forcing it to sell more of its assets than originally planned.

Scotland and Wales hit by floods

Mon, 02 Nov 2009 00:00:00 GMT

Heavy and prolonged rainfall across much of the UK on Sunday has triggered flooding across north-eastern Scotland and Wales, resulting in evacuations and property damage, RMS/Reactions Catastrophe Centre reports.

FSA fines Swinton over PPI sales

Thu, 29 Oct 2009 00:00:00 GMT

The UK Financial Services Authority (FSA) has ordered Swinton Group to refund millions of pounds to customers who were wrongly sold payment protection insurance (PPI).

Gilmour takes non-exec role at Hampden

Thu, 29 Oct 2009 00:00:00 GMT

Ewen Gilmour, the outgoing chief executive of Lloyd’s insurer Chaucer, has joined Hampden Agencies, the largest advisor to private capital at Lloyd’s, as non-executive chairman with effect from January 1 2010.

Mixed response to Lloyd’s cat concerns

Thu, 29 Oct 2009 00:00:00 GMT

There has been a mixed response from players in the London market to the news that Lloyd’s is taking a close look at the amount of catastrophe-related exposure in the market.

Fortis creates 550 more jobs in UK

Wed, 28 Oct 2009 00:00:00 GMT

Fortis (Insurance UK) is to recruit around 550 new jobs in the Gloucester, Stoke and Eastleigh regions over the next year as a result of new business wins.

Lloyd’s examines cat exposure - report

Wed, 28 Oct 2009 00:00:00 GMT

Lloyd’s of London is planning to ask some of its member companies to reduce their exposure to catastrophe-related insurance, the Financial Times reports.

Lloyd’s praised for its stability

Tue, 27 Oct 2009 00:00:00 GMT

The capital position of Lloyd’s of London increased during the first half of 2009, driven by improved conditions in the investment markets and the advent of new capacity, according to Aon Benfield’s latest research report.

Opportunity knocks for Lloyd’s firms

Tue, 27 Oct 2009 00:00:00 GMT

The London market is always well represented at Baden-Baden, especially Lloyd’s reinsurers. Underwriter Sharon Gallagher of Kiln Reinsurance 510 is a regular visitor, catching up with clients and finding out what their issues are. “Baden-Baden isn’t entirely ‘transactional‘,” she says.

Tolle says auf wiedersehen - for now

Tue, 27 Oct 2009 00:00:00 GMT

Rolf Tolle, Lloyd’s franchise performance director, is a well known face at Baden-Baden: he has been attending the meeting since the late Seventies. But his departure from Lloyd’s is now in view, and he is to be replaced at the end of the year, after seven years in the post, by incoming director of underwriting Tom Bolt.

Lloyd’s broker restructures business

Mon, 26 Oct 2009 00:00:00 GMT

Lloyd’s broker RFIB Group is reorganising its marine and non-marine divisions into three new areas with the objective of increasing its focus on clients and markets.

Brit positive on UK market

Fri, 23 Oct 2009 00:00:00 GMT

UK insurer Brit Insurance has reported an increase in sales for the first nine months of the year, driven by rising insurance prices.

‘Unprecedented’ 14% UK motor premium rise

Thu, 22 Oct 2009 00:00:00 GMT

Car insurance premiums are rising faster than at any time over the past 15 years, according to the latest AA British Insurance Premium Index.

Zurich UK loses data on 51,000 customers

Thu, 22 Oct 2009 00:00:00 GMT

The UK branch of Zurich Insurance has called in KPMG to investigate the loss of the details of 51,000 of its customers, the firm announced Thursday.

Mullan named CEO of Max at Lloyd's

Wed, 21 Oct 2009 00:00:00 GMT

Max Capital Group has appointed Adam Mullan as chief executive of Max at Lloyd’s, the Lloyd’s managing agent for Syndicates 1400, 2525 and 2526.

QBE lands rugby sponsorship deal

Wed, 21 Oct 2009 00:00:00 GMT

QBE has signed an agreement to become the official insurance partner of the Guinness Premiership.

RFIB lands Aon Benfield broker

Wed, 21 Oct 2009 00:00:00 GMT

Lloyd’s broker RFIB Group has appointed Simon Foreman as divisional director of RFIB Marine. He takes up his new position on October 23.