Lloyd’s insurer Brit has entered into the high net worth (HNW) insurance market with the launch of a private client business.
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.
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.
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.
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 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).
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 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 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 MGA Limited has sold its stake in technical underwriting MGA Trilogy to Resolution Underwriting Holdings for an undisclosed sum.
Starr Companies has added industry veteran Jose Ribeiro as a non-executive director to the boards of its London-based operations.
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 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.