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.
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 – 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.
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.
Private equity firm Aquiline Capital Partners is no longer exploring sale options of its motor-focused Lloyd’s syndicate ERS.
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.
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.
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.
Lloyd’s managing agency Coverys has named Caitlin Crist to the newly created role of head of claims of Syndicate 1975.