Brit enters HNW insurance market
Lloyd’s insurer Brit has entered into the high net worth (HNW) insurance market with the launch of a private client business.
RenRe narrows bidders after returning to market with Lloyd’s legacy book
Bermudian carrier RenaissanceRe has returned to the legacy market, once again seeking an adverse development cover (ADC) for a circa £470mn ($579.8mn) casualty book written through its Lloyd’s syndicate, The Insurer can reveal.
Beazley and Lancashire lead green week for Euro-listed P&C stocks
London-listed Beazley saw its shares climb almost 15 percent over last week’s five day trading period to lead a widespread green week for The Insurer’s universe of European-listed carriers.
Lloyd’s: Covid-19 will cost global P&C industry $203bn
In a curiously precise estimate, Lloyd’s predicts Covid-19 will cost the non-life industry $203bn in insured and investment losses, making it the largest loss event ever experienced by the global market by some distance.
ABI reiterates call for “significant” gov support on future pandemic cover
The Association of British Insurers (ABI) has reiterated its call on government to provide “significant levels of state support” to make pandemic insurance affordable for small businesses in the wake of the coronavirus pandemic.
Lloyd’s forecasts worst case loss of £809mn for 2019 YoA
Lloyd’s has forecast that non-third party backed syndicates will post a worst-case scenario loss of £808.7mn ($995mn) in the aggregate for the 2019 year of account (YoA).
OneAdvent buys property MGA Modus from CFC
London-based MGA platform OneAdvent has acquired Modus Underwriting, a digital-first MGA focused on providing niche property insurance products to brokers across the UK.
Hyperion rules out Miller move as Howden commits to no salary cuts
Hyperion will not entertain a bid for rival Miller when owner WTW re-starts the sale process for the London market wholesaler, Group CEO David Howden has confirmed.
K2’s Pioneer takeover to complete in Q2 as terms signed
K2 Insurance Services is a step closer to acquiring MGA Pioneer Underwriters as the pair have signed on terms for the previously announced deal which is now expected to close by the end of the second quarter of 2020.
R&Q sells UK MGA Trilogy to Lloyd’s coverholder Resolution Underwriting
R&Q MGA Limited has sold its stake in technical underwriting MGA Trilogy to Resolution Underwriting Holdings for an undisclosed sum.
Former Lloyd’s exec Ribeiro joins Starr as London-based NED
Starr Companies has added industry veteran Jose Ribeiro as a non-executive director to the boards of its London-based operations.
Former Besso CEO Colin Bird to land at EC3 Brokers
Former Prospect chairman and London market veteran Colin Bird is set to re-emerge at BP Marsh backed-EC3 Brokers in a role linked to its newly-launched specialty division, The Insurer can reveal.
BMS inks preferred partner agreement with Chilean broker Insurex Re
BMS has entered an agreement with Chilean reinsurance broker Insurex Re as the broking house looks to build out its presence in South America from its Miami hub.
Antares names Campbell as head of specialty
QIC Global-owned Antares has appointed Martin Campbell as head of specialty at Antares Syndicate 1274, London.