Hurricanes push Starstone to underwriting loss as Atrium breaks evenThe trio of Atlantic hurricanes that battered parts of the US and the Caribbean also took their toll on Starstone’s profits, while reserve releases kept fellow Enstar subsidiary Atrium in the black for 2017.
Aegis syndicate remains in the black as it looks to up 2018 capacityAegis’ Lloyd’s unit has posted a 99 percent combined ratio for 2017 despite “substantial headwinds” from the Mexico earthquakes and California wildfires.
UPDATE: Hiscox recovers to close down 2%Hiscox’s shares have pared earlier losses to close down 2 percent at 1367p after falling as much as 5 percent on the back of a challenging set of full year 2017 results this morning (26 February).
Cyber market ‘frustratingly immature’: BealeLloyd’s of London CEO Inga Beale has lambasted slow growth in the cyber insurance market and warned that the market risks not reaching its full potential.
Greenlight Re weighing Lloyd’s syndicate launchCayman-based hedge fund reinsurer Greenlight Re is considering setting up a syndicate at Lloyd’s as the company seeks to establish itself as a serious player in specialty classes.
MGAA adds Tempo’s Del Carlo to boardThe Managing General Agents’ Association (MGAA), the trade organisation for MGAs, has appointed Marco Del Carlo, managing director of Tempo Underwriting, as a new board director.
Lloyd’s not ‘particularly proud’ of 28% gender pay gapFemales working at Lloyd’s of London on average earn 27.7 percent less than their male counterparts, the Corporation has said as it released its gender pay gap figures today (21 February).
Hamilton Lloyd’s departures prompt underwriting reshuffleHamilton’s Syndicate 3334 has restructured its underwriting team following the departure of its deputy active underwriter and active underwriter.
More details emerge on Nexus mooted stake saleNexus’ recently-announced “shareholder liquidity event” is likely to take the form of a non-management individual share sale despite speculation that the MGA was weighing an IPO or full sale.
Lloyd’s legacy deals sealed by Enstar and R&QRandall and Quilter (R&Q) has completed a £30mn deal to take on the old Sportscover legacy book, now owned by Hamilton’s Lloyd’s platform in what is the second agreement of its type to be announced in less than a week.
Nexus appoints Panmure Gordon as it eyes stake saleLondon-based managing general agent Nexus has appointed investment bank Panmure Gordon as it ramps up efforts to sell a portion of the business, re-Insurance.com understands.
Fairfax takes $185mn wildfire hit as Allied World deal hits profitsThe wildfires that ravaged the state of California in the fourth quarter are expected to cost Fairfax - through its numerous subsidiaries - a total of $185.4mn.
TMK's flagship syndicate facing 2017 loss of up to £168mnTokio Marine Kiln has said that its flagship Lloyd’s syndicate 510 is expecting the return on its £1.13bn capacity to run to a loss of between 4.8 percent and 14.9 percent.
Lloyd’s carriers settle $10mn Kanye West lawsuitA number of Lloyd’s contingency insurers have settled a $10mn lawsuit involving rap star Kanye West who cancelled 21 tour dates claiming he was suffering from a debilitating illness.
Lloyd’s yacht market in deep water after 2017 lossesSky-rocketing claims dealt Lloyd’s yacht underwriters a hefty blow last year as incurred claims soared to an eye-watering 221.4 percent of premium written in the fourth quarter.
StarStone swoops on ArgoGlobal for crisis management underwriterStarStone has appointed Andrew Summers senior political risk underwriter to join its newly launched crisis management division.
Beazley mulls entering UK ILS marketLondon (re)insurer Beazley Group has confirmed it is exploring an entry into the nascent UK ILS market.
Hiscox shifts US chief to new London global retail unitHiscox has moved its US CEO Ben Walter to London to head up a newly-formed global retail division from the beginning of July.
UPDATE: Beazley closes up 6% after full year resultsShares in Beazley were trading hands for £5.61 a piece, up 5.5 percent, when the London Stock Exchange closed today, after the Lloyd’s (re)insurer released its fourth quarter results.
Lloyd’s bolsters Franchise Board with three appointmentsLloyd’s of London has named Mike Bracken, Nigel Hinshelwood and Fiona Luck to the Franchise Board as non-executive directors.