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Week in pictures

Published April 29, 2016 - 11:49am CST

The Business Insurance week in pictures is an eclectic mix led by a potential Liberty Mutual move to cut costs.

UK lawmakers looking into failed department store, impact on public pension insurance fund

By: Thomson Reuters

Published April 27, 2016 - 9:27am CST

(Reuters) — British lawmakers expect to question retail billionaire Philip Green in the course of an inquiry into failed department store chain BHS's pension liabilities after the firm was put into administration on Monday.

Reading of the Riot Act limits Sony claims in U.K.

By: Sarah Veysey

Published April 26, 2016 - 11:09am CST

Property owners and their insurers cannot claim compensation for consequential loss under the U.K.'s Riot Act, a court says.

Jardine Lloyd Thompson strengthens U.S. presence, sees good start to 2016

By: Sarah Veysey

Published April 26, 2016 - 9:33am CST

The company says the build-out of its U.S. specialty business “continued to gain strength” despite downward rating pressure.

London Market Group names new chair

By: Mark A. Hofmann

Published April 25, 2016 - 11:04am CST

Nicolas Aubert on Monday succeeded Steve Hearn as chair of the London Market Group.

Lloyd's diversity survey shows firms making some progress

By: Sarah Veysey

Published April 24, 2016 - 12:01am CST

Businesses that operate at Lloyd's of London are making progress with diversity and inclusion initiatives, but the market remains male-dominated.

Partnership targets expanding specialty business in Africa

By: Joyce Famakinwa

Published April 20, 2016 - 4:56pm CST

Specialist Lloyd’s of London insurance group Chaucer P.L.C. said that it has entered a partnership with New York-based insurer AXA Equitable Life Insurance Co. to develop a specialty insurance business in Africa.

Cooper Gay Swett & Crawford names group commercial director

By: Joyce Famakinwa

Published April 20, 2016 - 12:15pm CST

Cooper Gay Swett & Crawford Ltd. said on Wednesday that it has named London-based Andy Wallin as group commercial director, effective immediately.

Specialist property MGA lures London market vet from retirement

By: Sarah Veysey

Published April 20, 2016 - 10:24am CST

London insurance market veteran Adrian Colosso has been appointed nonexecutive chairman of specialist property managing general agent Inet3 Ltd.

Business losses after a riot not covered by U.K. law

By: Sarah Veysey

Published April 20, 2016 - 10:23am CST

British property owners and their insurers cannot recover consequential losses suffered after a riot from the police department, the country's highest court ruled Wednesday.

Soccer player scores own goal with braggy tweets

Published April 20, 2016 - 10:03am CST

A semi-pro soccer player in northwest England exposed his own insurance scam via Twitter.

Lloyd's insurance market measures member diversity

By: Sarah Veysey

Published April 19, 2016 - 11:08am CST

Firms operating within the Lloyd’s of London insurance market are making strides to improve workplace diversity and inclusion, but there is still work to be done, according to a study published Tuesday.

Acquisition expands insurer's presence in Lloyd's syndicates

By: Sarah Veysey

Published April 19, 2016 - 10:46am CST

New York-based AmTrust Financial Services Inc. said Tuesday that it will acquire specialty insurer ANV Holdings B.V. from the Ontario Teachers’ Pension Plan for $218.7 million in cash.

Reinsurance broker hires marine and energy executives from JLT Re

By: Joyce Famakinwa

Published April 18, 2016 - 11:59am CST

Capsicum Reinsurance Brokers L.L.P. said on Monday that it has named former JLT Re executives Alistair Lockhart-Smith and Jerry Reeves as managing partner and partner, respectively, in its marine and energy business.

Lloyd's of London broker names new CEO

By: Sarah Veysey

Published April 18, 2016 - 9:04am CST

Steve Hearn, CEO of Cooper Gay Swett & Crawford Ltd., will become CEO of the brokerage's Lloyd's of London broker CGNMB L.L.P. when Gordon Newman retires from that role Wednesday, the brokerage announced Monday.

Energy companies cut insurance spend in wake of tumbling oil prices

By: Sarah Veysey

Published April 10, 2016 - 12:01am CST

Too much capacity and falling buyer demand due to soft oil prices may prompt some energy industry insurers to reduce how much they underwrite or even convince them leave the market.

Week in pictures

Published April 08, 2016 - 10:03am CST

The latest in the MetLife SIFI and Panama Papers sagas, plus Business Insurance checks back in with a Women to Watch honoree.

Directors and officers insurance to reflect new U.K. rule

By: Joyce Famakinwa

Published April 07, 2016 - 2:07pm CST

Ironshore Inc.’s Pembroke Managing Agency Ltd. said Thursday that it has enhanced its directors and officers liability insurance product for financial institutions to reflect U.K. regulation.

Pool Re names industry veteran nonexecutive chairman

By: Sarah Veysey

Published April 06, 2016 - 9:49am CST

Pool Reinsurance Co. Ltd., the U.K. government-guaranteed terrorism backstop, has appointed Geoff Riddell as nonexecutive chairman, it announced Wednesday.

U.K. shipping sector risks sinking fortunes if nation quits European Union

By: Thomson Reuters

Published April 05, 2016 - 10:29am CST

(Reuters) — If Britain votes to leave the European Union, the country’s shipping sector faces years of disruption as trade agreements get reworked and currency volatility leads to higher costs at a time when the industry is battling its worst global downturn.

London market wary of secession from European Union

By: Sarah Veysey

Published April 04, 2016 - 10:42am CST

In Haggie Partners survey, 57% see the move as bad for Lloyd's.

U.K.'s Flood Re opens for business with A- financial rating

By: Sarah Veysey

Published April 04, 2016 - 9:48am CST

Flood Re Ltd., the government-backed household insurance plan for homes in flood risk areas of the United Kingdom, was launched Monday and assigned an A- financial strength rating by Standard & Poor's Corp.

Week in pictures

Published April 01, 2016 - 9:36am CST

SIFI challenges, man-made earthquakes, oil slicks and paperwork slip-ups top the Business Insuranceweek in pictures.

Allianz unit sells public liability insurance division

By: Joyce Famakinwa

Published March 29, 2016 - 2:50pm CST

Catalina Holdings (Bermuda) Ltd. said that its wholly owned London-based subsidiary Catalina Holdings UK Ltd. has signed a definitive agreement to acquire AGF Insurance Ltd. from Allianz S.E. unit AGF Holdings Ltd.

Final insured losses from Mike-Niklas windstorm placed at $911 million

By: Sarah Veysey

Published March 29, 2016 - 9:08am CST

Windstorm Mike-Niklas, which hit parts of Western and Central Europe in late March and early April last year, caused insured property losses of about €816 million ($911.3 million), Perils A.G. said Tuesday.

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