Activist investor Voce Capital Management has renewed its call for the “retirement” of five directors on the board of the Mark Watson-led Argo Group following the Bermudian (re)insurer receiving a US Securities and Exchange Commission (SEC) subpoena related to “certain compensation-related perquisites” last week.
Homeowners insurer Florida Specialty has denied allegations made by its state regulator and reported in an industry publication that it was legally insolvent and willfully violated the law.
The Society of Lloyd’s has denied allegations that it misled a prominent Lime Street investor into believing he could temporarily switch his unlimited liability status, in a dispute which could test the exemptions of liability enjoyed by the market’s ruling body.
Argo Group International Holdings has revealed it received a US Securities and Exchange Commission subpoena related to “certain compensation-related perquisites”.
AIG-owned Talbot Underwriting and other Lloyd’s insurers do not have to pay a Greek bank $77mn for the explosion aboard an oil tanker because the ship’s owner orchestrated a fake pirate attack in an attempt to commit insurance fraud, the High Court has ruled.
Findings from the UK Financial Conduct Authority (FCA) review into the “loyalty penalty” could have the opposite effect in the personal lines market and drive up rates in the near-term, analyst Canaccord Genuity predicts.