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Legal/ Regulatory

PRA swiftness of foot crucial to London’s aspiring new ILS market

It is Bismark who is often credited with observing that laws – like sausages – should never be watched being made.

Fri 13 Oct 2017

TV

Video

Des Potter on the ILS opportunities for London

Des Potter, Managing Director, Guy Carpenter Securities, spoke to Reinsurance magazine at The Old Library, Lloyd’s about the opportunities for the London Market once new ILS legislation has been passed.

Thu 12 Oct 2017

News

Losses

XL estimates Q3 cat losses at $1.48bn

Bermudian underwriting group XL has said it expected its third quarter figures will be impacted by $1.3 billion in net losses from the recent Hurricanes Harvey, Irma and Maria.

Thu 12 Oct 2017

News

Legal/ Regulatory

New London ILS regime to miss 1.1s

After two years of consultation between the London (re)insurance industry, regulators and the government, the UK Parliament is expected to finally pass legislation later this month that will provide a new tax-friendly regime for constructing insurance linked securities (ILS) business in London.

Thu 12 Oct 2017

News

People Moves

Barbican appoints Booth to new role of underwriting director

Barbican, the private equity owned Lloyd’s insurer, has promoted Andy Caldwell to active underwriter of its Syndicate 1955 with his predecessor David Booth being appointed to a new role of director of underwriting.

Thu 12 Oct 2017

Hoare warns of impending &quote;reinsurance failures&quote;

News

Losses

Hoare warns of impending "reinsurance failures"

The CUO of Munich Re Syndicate Ltd, Dominick Hoare, has given a stark warning to expect “reinsurance failures” as the industry confronts a rising tide of over a $100bn in storm losses from hurricanes Harvey, Irma and Maria.

Wed 11 Oct 2017

Hiscox appoints former Vodafone executive to new London CEO role

News

People Moves

Hiscox appoints former Vodafone executive to new London CEO role

The Hiscox Group has created a new role of London Market business CEO and promoted one of its retail executives Kate Markham to the position.

Wed 11 Oct 2017

News

Losses

Bermuda facing $25bn HIM losses

Bermuda’s (re)insurers are set to face claims of $25 billion from hurricanes Harvey, Irma and Maria (HIM), according to the Association of Bermuda Insurers & Reinsurers (ABIR).

Wed 11 Oct 2017

News

Brexit

Beazley’s Dublin platform writes first policies

Lloyd’s carrier Beazley plc this week begun writing policies through its Dublin-based insurer, Beazley Insurance dac (Beazley Insurance), which was authorised by the Central Bank of Ireland in July.

Tue 10 Oct 2017

Esser continues AFL build out with senior Lockton hire

News

People Moves

Esser continues AFL build out with senior Lockton hire

AFL Insurance Brokers Ltd (AFL), the minnow Lloyd’s broker that was recently acquired by former Cooper Gay CEO Toby Esser, is continuing its recent build out with the hire of Lockton broker Neil Crouch.

Mon 9 Oct 2017

Cargo underwriters all at sea following Hanjin collapse

News

Legal/ Regulatory

Cargo underwriters all at sea following Hanjin collapse

A leading marine insurance lawyer has said the collapse of the Hanjin shipping firm last August has hit the appetite for the market to offer certain covers.

Mon 9 Oct 2017

AIG declares heavy $3bn Q3 cat loss bill

News

Losses

AIG declares heavy $3bn Q3 cat loss bill

American International Group (AIG) warned yesterday evening (9 October) that the third quarter could amount to its largest ever catastrophe loss following the recent trio of deadly hurricanes Harvey, Irma and Maria, together with the Mexican earthquakes.

Mon 9 Oct 2017

Scor predicts $95bn market cost of recent cats

News

Losses

Scor predicts $95bn market cost of recent cats

French reinsurance group Scor has predicted this morning (9 October) that the market is facing $95bn in losses from the combined losses caused by hurricanes Harvey Irma & Maria and the Mexican earthquakes.

Mon 9 Oct 2017

Nate a primary loss event at $500mn: KCC

News

Losses

Nate a primary loss event at $500mn: KCC

Reinsurers’ stretched claims departments were given an Autumnal reprieve this weekend with losses from Hurricane Nate likely to be principally a primary event.

Mon 9 Oct 2017

News

M&A

Integro close to acquiring London market broker Tysers

Integro, the New-York headquartered broker formed by the late Bob Clements in 2005, is in advanced stages to acquire the independent London market broker Tysers.

Fri 6 Oct 2017

Comment

Fryer's delight

Did Angerstein spy fist-pumping over at Aon Benfield following the news this week that Charlie Fry has joined insurance powerhouse AIG see story to lead its reinsurance buying?

Fri 6 Oct 2017