Neon to stay under AFG ownership as sales process pulled
The process to find a new strategic investor for Neon has been pulled after a recent proposed transaction – thought to involve PE firm Madison Dearborn – was seen as not sufficiently valuing the Lloyd’s insurer.
Lloyd’s to unveil £53mn innovations facility as latest milestone in transformation strategy
A dozen heavyweight Lloyd’s insurers are behind the imminent launch of a new facility that will incubate the future underwriting of cutting-edge risks in an initiative that will be flagged as part of Lloyd’s CEO John Neal’s transformation strategy.
Comment: Choosing the right partners…
John Neal has impressed many with his first nine months at the helm. He has made a conscious effort to re-engage with brokers, has deployed a “come and let’s chat” approach at odds with predecessors who were criticised by some for aloofness. He has also created a vision and an ...
Advisory firms vying for Lloyd’s transformation mandates
McKinsey, Deloitte and EY are thought to be amongst a number of bulge bracket international advisory firms vying to formally advise Lloyd’s on the next stages of CEO John Neal’s ambitious vision to transform the 300+ years old market.
Lloyd’s continues suspensions over “inappropriate” behavior: reports
An unnamed employee has been suspended from Lloyd’s of London for “alcohol-related” and “inappropriate” behaviour, as external scrutiny and efforts to stamp out misconduct intensify.
Medical Protection Society and Asta launch SPA at Lloyd’s
The Medical Protection Society (MPS) has launched a Lloyd’s special purpose arrangement that will insure corporate healthcare entities from 1 July.
Lloyd’s mandates harassment and discrimination survey as deadline is extended
The chief executive of Lloyd’s John Neal has today written to managing and member agents of Lloyd’s mandating the circulation of the Corporation’s working culture survey to all their UK staff while simultaneously pushing back the deadline to 14 June.
Aspen taps Lloyd’s Brekenfeld for corporate development role
Bermuda-based Aspen has named former Lloyd’s oversight manager Joshua Brekenfeld as director of global corporate development.
Chaucer bolsters London A&H book with TransRe hire
Lloyd’s specialty insurer Chaucer has hired Sarfraz Pivano from Transatlantic Reinsurance Company to take up the role of accident & health treaty underwriter in its reinsurance division.
Liberty Mutual Re joins Lloyd’s Mexico platform
Liberty Mutual Reinsurance (LM Re), the reinsurance arm of Liberty Special Markets (LSM), has become the latest player to open an operation in Mexico under the Lloyd’s banner.
Brit swoops on Aviva’s Drew for head of outwards reinsurance
London (re)insurer Brit has named James Drew as head of outwards reinsurance.
Arcus 1856 taps Markel for head of North America property treaty
Credit Suisse’s Arcus Syndicate 1856 has appointed Nick James as underwriting manager for North America property treaty.