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UK solicitors’ body proposes slashing mandatory PI limit

News

Legal/ Regulatory

UK solicitors’ body proposes slashing mandatory PI limit

The UK Solicitors’ Regulation Authority (SRA) has launched a consultation to look into whether law firms should be required to purchase lower limits of professional indemnity (PI) liability cover and remove the current ‘one-size-fits-all’ rules.

Mon 26 Mar 2018

News

BHSI mints Perth office with Chubb hires

Berkshire Hathaway Specialty Insurance (BHSI) is continuing to make a concerted push into Australia as it opens a new office in Perth

Mon 26 Mar 2018

News

People Moves

Lefebvre to depart Hamilton Re

Hamilton Re’s chief underwriting officer for casualty business Claude Lefebvre is set to leave the company at the end of the month, it announced today (23 March).

Fri 23 Mar 2018

News

Marine

MS Amlin parts ways with marine underwriters

MS Amlin has let go its long standing senior hull underwriter Richard Lurcott, re-Insurance.com can reveal.

Fri 23 Mar 2018

Maersk Honam loss feared to hit IG reinsurance programme

News

Losses

Maersk Honam loss feared to hit IG reinsurance programme

The fire which gutted Maersk’s Honam vessel earlier this month, killing four sailors onboard and damaging substantial cargo, is set to blow through the International Group’s (IG) $100mn pool retention and deal the reinsurance market a severe marine loss, re-Insurance.com understands.

Fri 23 Mar 2018

Aon UK names chief operating officer as Ledger retires

News

People Moves

Aon UK names chief operating officer as Ledger retires

Nathan Shanaghy has been appointed chief operating officer (COO) of Aon UK.

Fri 23 Mar 2018

Fosun waiting in the wings for Ethniki if Exin bid topples

News

M&A

Fosun waiting in the wings for Ethniki if Exin bid topples

Chinese conglomerate Fosun is prepared to submit a second bid for Greek insurer Ethniki should Matt Fairfield’s Exin fail to secure financing for its EUR718mn ($885.6mn) bid by a 28 March deadline.

Fri 23 Mar 2018

Lloyd’s managing agents struggling with delegated resources: Mazars

News

Results

Lloyd’s managing agents struggling with delegated resources: Mazars

Over half of Lloyd’s managing agents are facing a resources crunch in their delegated authorities teams, with most expecting the situation to get worse this year, according to a new survey by accountancy firm Mazars.

Fri 23 Mar 2018

D&O pricing slumps 8% in 2017 despite record number of lawsuits

News

Professional lines

D&O pricing slumps 8% in 2017 despite record number of lawsuits

The price for $1mn of directors and officers (D&O) cover in the US sank by 8.3 percent last year despite a record number of class action lawsuits against publicly-listed firms, a study by Aon has found.

Fri 23 Mar 2018

News

People Moves

Marsh’s White appointed Liiba chair

Roy White, chairman of UK specialties at Marsh, has been named the new chair of broker association Liiba.

Fri 23 Mar 2018

Generali Germany CEO hints at P&C acquisitions

News

Legacy

Generali Germany CEO hints at P&C acquisitions

Generali’s chief executive for Germany Giovanni Leverani has suggested that the company may use the proceeds from its run off of its local life business to fund acquisitions in the P&C sector.

Fri 23 Mar 2018

Pool Re given UK government go-ahead to cover non-damage BI losses

News

Legal/ Regulatory

Pool Re given UK government go-ahead to cover non-damage BI losses

The UK government’s decision to amend the 1993 Reinsurance (Acts of Terrorism) Act will enable Pool Re to extend its cover to include non-damage business interruption losses resulting from acts of terrorism.

Thu 22 Mar 2018

Beazley CUO Maidment to step down at end of 2018

News

People Moves

Beazley CUO Maidment to step down at end of 2018

Long-serving Beazley chief underwriting officer (CUO) Neil Maidment is set to retire at the end of the year after nearly three decades with the company.

Thu 22 Mar 2018

Darag in EUR100mn capital raise as it looks to increase deal firepower

News

Results

Darag in EUR100mn capital raise as it looks to increase deal firepower

Private equity-owned legacy acquirer Darag is looking to raise around EUR100mn as it seeks to grow its war chest and conduct more sizeable deals, re-Insurance.com understands.

Thu 22 Mar 2018