Reinsurance
Buyer gears up for Markerstudy insurer swoop amid QIC exit
Qatar Insurance Company wants to exit loss making business and is poised to sell its Gibraltar-based direct insurance carriers.
Aviva strikes £100m-per-year capacity deal with Pen Underwriting
Pen Underwriting has announced a new multi-year strategic partnership with Aviva in support of its personal lines and property owners’ business, which will see Aviva providing capacity for over £100m in premium per annum.
CII elects Swiss Re’s Russell Higginbotham as president
Russell Higginbotham, CEO of Swiss Re Solutions, has been elected president of the Chartered Insurance Institute for 2023 moving up from deputy president and succeeding Peter Blanc.
Biba welcomes FCA tower blocks insurance report and flags commission rate fall
The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority’s report on insurance for multi-occupancy buildings and broadly supported the key recommendations but warned of "unintended consequences".
FCA recommends Biba works on risk pool “to limit commission costs” in flats insurance report
The Financial Conduct Authority has warned of “significant concern” over some broker commissions in the multi-occupancy buildings insurance market and taken aim at a lack of transparency by the insurance sector in its dealings with leaseholders as well…
Interview: Chris Wallace, executive director, UK, QBE Insurance
Chris Wallace, executive director, UK, QBE Insurance, speaks to Siân Barton about his career to date, a love for all things Latino and Liverpudlian and his plans for the future
Lloyd’s posts £1.8bn half-year loss
Lloyd's has posted a loss of £1.8bn for the first half of 2022 compared to a profit of £1.4bn in the same period last year.
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.