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China Re gets Lloyd's OK for change to stand-alone syndicate in 2015

By: Mark A. Hofmann

Published November 21, 2014 - 10:31am CST

China Reinsurance (Group) Corp. has received approval from Lloyd’s of London to transform its existing special purpose syndicate into a stand-alone syndicate.

Hackers to probe cyber crime defenses at British banks

Published November 19, 2014 - 11:14am CST

(Reuters) — In the next few months, hackers will try to penetrate the cyber defenses of Britain's major banks and steal information about millions of customers. But for once they'll be welcome.

Renewal rates down 3.5% in first nine months of 2014: Amlin

By: Sarah Veysey

Published November 19, 2014 - 9:17am CST

Average insurance and reinsurance renewal rates fell by 3.5% for the first nine months of 2014, Amlin P.L.C. said Wednesday.

Brokerage consolidator Towergate reveals acquisition approaches

By: Sarah Veysey

Published November 19, 2014 - 8:51am CST

London-based brokerage consolidator Towergate Partnership Ltd. on Wednesday said it had received approaches from parties interested in acquiring the group and is assessing those offers.

Cyber, political risks top concerns among European energy industry execs

By: Sarah Veysey

Published November 18, 2014 - 10:20am CST

Political and cyber risks are among the major concerns of companies in the power industry in Europe, according to a study published Tuesday by Marsh L.L.C.

Huw Evans named director general of Association of British Insurers

By: Sarah Veysey

Published November 18, 2014 - 10:10am CST

Huw Evans will succeed Otto Thoresen as director general of the Association of British Insurers in February, the London-based ABI announced Tuesday.

Hamilton Insurance acquiring Lloyd's sports and leisure underwriter and broker

By: Sarah Veysey

Published November 18, 2014 - 10:09am CST

Hamilton Insurance Group Ltd. on Tuesday said it will acquire Sportscover Underwriting Ltd., a Lloyd's of London managing agency, and Kinetic Insurance Brokers Ltd., a Lloyd's broker, from Wild Goose Holdings Pty. Ltd.

Pool Re secures premium rate concessions from U.K. Treasury

By: Sarah Veysey

Published November 18, 2014 - 10:01am CST

Pool Reinsurance Co. Ltd. on Tuesday said it had secured several concessions and acceptance of several modernization proposals from the U.K. Treasury ahead of a Friday vote on Treasury proposals to increase the retrocession premium it charges the government-guaranteed terrorism reinsurance backstop.

Gallagher expands its directors and officers coverage

By: Shelby Livingston

Published November 14, 2014 - 2:48pm CST

Arthur J. Gallagher, an international division of broker Arthur J. Gallagher & Co., has launched two new insurance policies expanding the coverage of the firm's traditional directors and officers coverage, AJG Absolute.

Hub sells its only Latin American benefits and commercial lines broker

By: Stephanie Goldberg

Published November 14, 2014 - 10:59am CST

Hub International Ltd. has sold Harmonia Corretora de Seguros Ltda., the São Paulo, Brazil-based insurance brokerage it acquired in 2011, to Howden Insurance Brokers Ltd., London-based Howden said Friday.

Willis appoints CEO to its U.K. insurance business

By: Matthew Lerner

Published November 13, 2014 - 10:36am CST

Willis Group Holdings P.L.C. has appointed Nicolas Aubert to succeed Steve Hearn as CEO of Willis UK Insurance, the company said in a statement Thursday.

Ryan Specialty launches London-based vehicle for D&O risks

By: Shelby Livingston

Published November 12, 2014 - 1:43pm CST

Ryan Specialty Group L.L.C. has created a London-based managing general agent to write directors and officers liability insurance, the Chicago-based wholesale broker announced Wednesday.

Brit P.L.C. cites pressures from continued rate decreases during 2014

By: Sarah Veysey

Published November 12, 2014 - 9:52am CST

The premium rating environment remains variable and challenging for some lines of business, London-based specialty insurer and reinsurer Brit P.L.C. said in its interim management statement Wednesday.

London insurance market urged to adjust products, costs to compete globally

By: Sarah Veysey

Published November 10, 2014 - 9:37am CST

The London insurance and reinsurance market must meet demand for new products and reduce the cost of doing business among other ways to retain its position as a global insurance center, according to a report published Monday.

U.K. seeks fivefold retrocession increase in terrorism backstop premiums

By: Sarah Veysey

Published November 09, 2014 - 6:00am CST

The board overseeing the United Kingdom's terrorism reinsurance backstop is encouraging members to accept a U.K. Treasury proposal that would result in a fivefold increase in the retrocession premium the government charges the pool.

UP CLOSE: Mark Church

Published November 09, 2014 - 6:00am CST


Insurers, U.K. government working to improve cyber security

By: Sarah Veysey

Published November 05, 2014 - 10:02am CST

LONDON — The U.K. government and a group of leading insurers pledged Wednesday to work together to find ways to better improve cyber security and to develop cyber insurance products and services available for businesses.

Brokerages Hyperion, R.K. Harrison enter merger discussions

By: Sarah Veysey

Published November 05, 2014 - 9:38am CST

London-based independent insurance and reinsurance brokerages Hyperion Insurance Group Ltd. and R.K. Harrison Holdings Ltd. have entered into exclusive merger discussions, the companies announced Wednesday.

British spy chief demands more access to Twitter, Facebook to thwart attacks

Published November 04, 2014 - 11:07am CST

(Reuters) — Twitter and Facebook are so important to militant groups that the technology giants should give security services greater access to their networks to allow governments to foil attacks, the head of Britain's eavesdropping agency said.

Jardine Lloyd Thomson says financials meeting expectations despite challenges

By: Sarah Veysey

Published November 04, 2014 - 10:40am CST

Jardine Lloyd Thompson Group P.L.C. on Tuesday said its financial performance remains in line with expectations even though conditions are challenging for insurance and reinsurance brokerages.

Proposed U.K. Treasury change likely to increase Pool Re rates

By: Sarah Veysey

Published November 03, 2014 - 10:26am CST

The CEO of Pool Reinsurance Co. Ltd., the U.K. terrorism reinsurance backstop, said Monday he likely will convene an extraordinary general meeting of insurers to discuss proposed changes by the U.K. Treasury department to terms governing participation in the pool.

Willis' size, Miller Insurance Services' wholesale expertise aids both brokers in merger

By: Matthew Lerner

Published October 26, 2014 - 6:00am CST

Willis Group Holdings P.L.C.'s plan to take a majority stake in Miller Insurance Services L.L.P. to set up a London-based specialty broker handling wholesale and Lloyd's of London business would take advantage of Willis' scale and Miller's client base.

JLT Reinsurance deal boosts sector revenue, but brokers face tough market

By: Sarah Veysey

Published October 26, 2014 - 6:00am CST

The world's 10 largest reinsurance brokerages increased their collective gross revenue by 7.4% in 2013, the largest gain in at least a decade, despite softer reinsurance pricing. Much of the increase can be attributed to JLT Reinsurance Brokers Ltd. and its late 2013 acquisition of the reinsurance brokerage operations of Towers Watson & Co.

Ironshore expanding into agriculture sector

By: Judy Greenwald

Published October 20, 2014 - 2:07pm CST

Ironshore International, a unit of Hamilton, Bermuda-based Ironshore Inc., said Monday it plans to enter the agriculture sector, offering capacity limits of up to $10 million, with the appointment of a divisional director.

Hurricane Gonzalo damaged roofs, knocked out power in Bermuda

By: Matthew Lerner

Published October 20, 2014 - 12:12pm CST

Hurricane Gonzalo hit Bermuda Friday night, leaving damaged roofs and electricity outages in its wake, catastrophe modeling firm AIR Worldwide said in a statement Monday.

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