Lloyd’s syndicates denied recovery of $500mn Chevron “Big Foot” loss
The Fifth Circuit appeals court has denied efforts by Lloyd’s syndicates - including ones owned by Munich Re, QBE, Chaucer and Aegis - to recoup more than $500mn in losses from a steel tendon failure on a Chevron oil-drilling platform in 2015.
Canopius signs AmTrust at Lloyd’s merger agreement
PE-backed Canopius has moved a step closer to completing its landmark merger of its Lloyd’s business with AmTrust’s, after signing a definitive sale and purchase agreement, a move that will catapult the carrier into being a top-five Lloyd’s insurer.
Munich Re Syndicate Singapore partners with coverholder Nectar
Munich Re Syndicate Singapore – the Asia-Pacific arm of the Dominick Hoare-led Lloyd’s syndicate – has continued its expansion in the region, entering a partnership with coverholder Nectar Specialty Risk.
Appeals court gives reinsurers a victory in Equitas asbestos ruling
The keenly-anticipated Equitas v MMI judgment has provided the reinsurance industry with welcome judicial guidance that insurers cannot present 100 percent of employers’ liability (EL) mesothelioma claims to any year of cover they choose.
Aquiline makes U-turn on ERS sale
Private equity firm Aquiline Capital Partners is no longer exploring sale options of its motor-focused Lloyd’s syndicate ERS.
Lloyd’s pushes forward ‘action plan’ to tackle harassment
Lloyd’s has gone live with two initiatives that have been created in recent weeks to address reports of sexual harassment in the market.
We will be draconian: John Neal
The chief executive of Lloyd’s of London has told this publication the Corporation would publicly bring the full weight of its power down on perpetrators of sexual misconduct in the market.
Neal takes over LM TOM oversight until Khoury-Haq replacement found
Lloyd’s CEO John Neal has taken over effective responsibility for overseeing process efficiencies in the London Market, a project called LM TOM, until the Corporation appoints a new chief operating officer.
Bird to land at Lloyd’s broker Prospect as chairman
Former Besso CEO Colin Bird is set to join the board at fellow Lloyd’s intermediary Prospect Insurance Brokers (PIB) as chairman, The Insurer can reveal.
O’Donohoe leaves Hamilton; Barrett takes new specialty role
Hamilton at Lloyd’s CEO Dermot O’Donohoe is leaving the carrier just weeks after its Bermudian parent announced it had agreed a deal to buy Pembroke and other operations from Liberty Mutual.
Coverys names Crist as head of claims
Lloyd’s managing agency Coverys has named Caitlin Crist to the newly created role of head of claims of Syndicate 1975.
Weaver departs after three years as Lloyd’s CRO
Lloyd’s has announced chief risk officer Hilary Weaver will leave at the end of March.