Wholesale brokers in the clear following FCA probe
The Financial Conduct Authority has found no evidence of “competition concerns” following its wide-ranging study into broker activities in the London wholesale market in a massive win for market brokers.
$6bn+ now written in London through broker facilities
£4.8bn ($6.2bn) of gross written premium in the London market is now placed through facilities operated by brokers, according to a wide-ranging study by UK regulator the Financial Conduct Authority (FCA) published today.
FCA probe findings evidence of broker value: Liiba’s Croft
The findings of the newly-released final report into the FCA’s wholesale insurance broker review has provided insurance intermediaries with a “clean bill of health”, the CEO of the London and International Insurance Brokers’ Association has said.
Ascent backer Preservation Capital builds MGA platform with Cove investment
Private equity firm Preservation Capital Partners, the backers of MGA Ascent Underwriting, has invested in US construction-focused managing general agent Cove Programs.
Former Lloyd’s chairman Rowland dies
The former chairman of Lloyd’s Sir David Rowland – who is credited with saving the Corporation from collapse in the 1990s - has passed away.
The man who saved Lloyd’s
In contrast to some of the more recent, excitable commentary about Lloyd’s gloomy future, today’s sad news is a reminder that a generation ago Lloyd’s really was facing an existential crisis.
Ascent backer Preservation Capital builds MGA platform with Cove investment
Private equity firm Preservation Capital Partners, the backers of MGA Ascent Underwriting, has invested in US construction-focused managing general agent Cove Programs.
Hamilton in pole position for £400mn+ Lloyd’s Pembroke deal
Bermudian (re)insurer Hamilton is the frontrunner to acquire the up-for-sale Lloyd’s insurer Pembroke after lodging a bid thought to be in the region of £400mn+.
Lloyd’s M&A: ERS and Neon will be the litmus test for PE appetite
Despite the proposed £400mn+ sale of Liberty Group’s Pembroke Managing Agency entering into exclusivity, a number of other Lime Street sale processes have recently faltered amidst buyer caution, a brutal 2019 business plan exercise and mismatches on valuation.
Hyperion founder: “We will never sell”
Major new strategic initiative agreed with PE backers at industry’s soon-to-be largest non-US intermediary
Former Lloyd’s chairman Rowland dies
The former chairman of Lloyd’s Sir David Rowland – who is credited with saving the Corporation from collapse in the 1990s - has passed away.
Carnegie-Brown steps down as Moneysupermarket chair
Bruce Carnegie-Brown will stand down as chairman and non-executive director of price comparison website Moneysupermarket.com in May 2019.
RSA marine underwriter Peers joins TT Club
Andrew Peers has been appointed senior underwriter in TT Club’s UK, Benelux and Nordic underwriting team.
Duclos named non-exec chair of Lloyd’s Global Network
Lloyd’s has named industry veteran David Duclos as non-executive chairman of Lloyd’s Global Network, effective immediately.