Lloyd’s Brussels given regulatory green lightLloyd’s has received confirmation from the National Bank of Belgium that is has been granted a licence to set up its new Brussels subsidiary.
Barbican’s $100mn ClaRe signs up nine syndicatesClaRe, Barbican’s newly-launched collateralised retro platform for Lloyd’s carriers, inked deals handing the vehicle exposure to nine syndicates at 1.1, re-Insurance.com understands.
Lloyd’s marine market faces a seachange following 2017 catsOn the back of an awful year for the marine insurance market that was plagued by major losses, over capacity and competitive pricing, a trend of retrenchment has started to emerge.
Parry confirms muted ILS appetite for Lloyd’s Central FundLloyd’s outgoing CFO John Parry has confirmed reports by this publication that ILS investors have shown little interest in providing reserve risk cover for the Central Fund.
Lloyd’s tells underwriters to withdraw insurance to NRALloyd’s of London has informed underwriters to pull out of any programmes associated with the National Rifle Association of America (NRA).
GCube’s Richardson heads to Travelers as renewable energy bossCharlie Richardson, senior energy underwriter at Lloyd’s coverholder GCube, is leaving the firm for Travelers.
Hiscox top line surges in first quarter as rates harden at 1.1London (re)insurer Hiscox has reported a 20.3 percent rise in gross written premiums (GWP) in the first quarter driven by improved pricing at the beginning of the year.
The Hanover would use Chaucer sale to fund US growthJohn Roche, CEO of The Hanover has said that the firm would use the proceeds from the sale of its Lloyd’s business and international arm Chaucer to finance domestic expansion.
The Hanover smashes profit estimates as Chaucer sale still on the cardsThe Hanover comfortably beat earnings expectations to post a profit of $84mn in the first quarter as the carrier hailed the performance of its up-for-sale Lloyd’s business Chaucer.
UPDATE: Lancashire shares jump 5% on Q1 resultsLancashire’s shares have risen as much as 8 percent this morning before giving up some ground to trade nearly 5 percent higher at around 627p per share after the firm posted a sterling set of first quarter results before markets opened.
Lloyd’s finance boss Parry to departLloyd’s CFO John Parry is to step down from the Corporation in surprise move that will see him leave early next year.
More Lloyd’s legacy entrants expected as RITC market kicks into overdriveA surge in the number of run-off opportunities globally has driven an influx of capital into the legacy market - and now those investors have set their sights on Lloyd’s.
Lloyd’s lays ground for innovation lab amid push to digitise marketLloyd’s has appointed consultants L Marks and BCG to back the foundation of an innovation lab at 1 Lime Street in the second half of this year as the Corporation looks to up the ante in its drive to modernise the market’s technology base.
Alesco hires construction executive Hiller from WillisAlesco - the expansive London market broker that celebrates its ten year anniversary later this year - has plucked Martin Hiller from larger rival Willis Towers Watson to bolster the senior management of its construction team.
Barbican drafts in Aon Benfield to manage RITC auctionLloyd’s insurer Barbican has instructed Aon Benfield to evaluate third-party reinsurance to close (RITC) quotes for its back-year liabilities, re-Insurance.com can reveal.
Accident and health goes live on PPLAccident and health is the the latest line of business to go live on the electronic placing platform PPL.
Pool Re and Guy Carp lead Bishopsgate bombing anniversary line slipNext week marks 25 years since the Bishopsgate bombing, with carriers and brokers from the London market commemorating the event by once again coming together to support a local cause.
Angerstein: Lloyd’s headcount leaps despite costly virtue signallingThe Corporation of Lloyd’s senior management have been signalling their commitment to cost-reductions for some time - so one can imagine there was a collective groan when it published its market-wide results last month.
Lloyd’s sale rush raises existential questionsThe recent influx of Lloyd’s platforms onto the M&A market has raised a plethora of issues for what the sales rush means for the future of the market - as well as what the sudden spike in supply could do to already frothy takeout multiples.
Navigators mulling sale of Lloyd’s platformUS specialty carrier Navigators is weighing up a sale of its Lloyd’s business after a disappointing performance in 2017 pushed its Syndicate 1221 to a £15mn ($21.1mn) underwriting loss for the year, re-Insurance.com understands.