Reinsurance
Flood Re posts 18% policy growth
Flood Re has reported covering 256,634 policies in the year ended 31 March 2022, up 17.7% on the previous 12 months.
BMS promotes Ian Gormley to UK CEO
BMS has made Ian Gormley UK CEO, effective immediately, reporting to group CEO Nick Cook.
Howden buys TigerRisk
Howden Group has bought reinsurance broker and risk capital advisor TigerRisk Partners.
Insurance ban on Russian oil ships - report
The UK and EU have teamed up to ban the insurance of ships carrying Russian oil, the Financial Times has reported.
DR&P buys Channing Lucas & Partners
DR&P Group bought a 90% stake in Lloyd’s broker Channing Lucas & Partners late last year, according to a filing at Companies House.
Clegg Gifford buys ARs to expand branch network
Markerstudy-bound Lloyd’s broker Clegg Gifford is targeting a branch network of 30 and is buying up its current appointed representatives, Insurance Age can reveal.
Extinction Rebellion blockades Lloyd’s
Climate protestors have used superglue, chains and bike locks to block 25 entrances into the iconic Lloyd’s building on Lime Street in London.
Lords Committee calls for “a broader reassessment of regulatory culture”
The Industry and Regulators Committee has outlined concerns about proportionate regulation in the London Market in a letter written to the Economic Secretary to the Treasury, John Glen MP.
FCA puts broker commission under the spotlight in multi-occupancy property insurance review
The regulator’s survey includes asking if brokers have a bribery and corruption policy and a request for a copy.
Lloyd’s picks 11 for latest lab cohort
The insurtechs have been selected based on solutions geared towards four key themes: decarbonisation and climate change; supply chains; data and models; and claims.
Pool Re boss Julian Enoizi to join Guy Carpenter
Enoizi will join the reinsurance broker on 11 April.
Beazley revamps underwriting team structure
Cyber risks to become a standalone division as part of the changes.
Pool Re names Tom Clementi as CEO
Clementi will replace outgoing boss Julian Enoizi.
WTW follows Aon and Marsh McLennan and withdraws from Russia
Ownership of Russian businesses will be transferred to local management as broker expresses dismay at the conflict.
Aon suspends Russian operations
Staff in Russia have been put on paid leave by the broker as the attack on Ukraine escalates.
Marsh McLennan to exit Russia
Businesses to be transferred to local management who will operate independently.
Government sets 28 March deadline for Russian aviation insurance ban
The UK government revealed the insurance sanctions on 3 March in response to the invasion of Ukraine by Russia.
Lloyd’s open for growth but demanding sustainable performance
Market leader stresses remediation is not a ‘once and done’ exercise as focus increases on catastrophe risks.
UK brings in sanctions blocking Russian access to aviation insurance
AM Best put ratings of suite of Russian insurers and reinsurers on negative watch at the start of the month.
Pool Re ups retro cover to £2.5bn
The three-year agreement triggers if losses top £400m in a year.
MGA evolution can support broker independence, says Pro Global’s Danny Maleary
MGA leader assesses opportunities for brokers, changes in capital providers backing risks, market consolidation and the sector’s expansion.
Brokers urged to engage with Lords' Committee's insurance market regulation inquiry
Biba confirms it will be will be putting in a response to the consultation which closes on 11 February as compliance experts discuss whether the inquiry could have an effect on the regional broker market.
Lords starts hearing evidence in insurance market regulation inquiry
The House of Lords Industry and Regulators Committee kicked off its investigation which focuses on the commercial insurance and reinsurance market on 14 January.
Experts warn of reinsurance market crunch
Smaller players without scale may struggle with reinsurance costs going forward as issue is highlighted by the collapse of motor trade specialist Tradewise.