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European windstorm insured losses up to nearly $1 billion

By: Sarah Veysey

Published June 29, 2015 - 9:31am CST

Windstorm Mike-Niklas caused about €895 million ($999.45 million) in insured property losses when it struck parts of Western and Central Europe in late March and early April, according to catastrophe data firm Perils A.G.

Willis exec jumps ship to rival broker

By: Sarah Veysey

Published June 29, 2015 - 9:16am CST

Steve Hearn has been named global CEO of London-based brokerage Cooper Gay Swett & Crawford Ltd. effective Nov. 2, the company announced Monday.

Top London underwriters named

By: Sarah Veysey

Published June 24, 2015 - 9:22am CST

Dominick Hoare, an energy underwriter at Watkins syndicate 457, and Mark Pepper, a reinsurance underwriter at Ascot Underwriting Ltd., have been voted the leading underwriters in the London insurance market.

London insurer to appeal Irish tribunal award to suspended CEO

By: Sarah Veysey

Published June 23, 2015 - 9:21am CST

RSA Insurance Group P.L.C., London, intends to appeal an Irish Employment Appeals Tribunal decision to award €1.25 million ($1.42 million) to the former CEO of its Irish unit, Philip Smith, who claimed he had been constructively dismissed from the company.

Former Aspen reinsurance chief joins Amlin

By: Sarah Veysey

Published June 22, 2015 - 10:59am CST

James Few has been appointed global managing director of reinsurance at London-based Amlin P.L.C., the insurer and reinsurer announced Monday.

Making the case with boards for business-critical coverage

By: Sarah Veysey

Published June 21, 2015 - 6:00am CST

LIVERPOOL, England — Insurance buyers must be able to effectively communicate to their company's boards which coverages are business critical and which, therefore, should not be bought solely on the basis of price, according to Airmic Ltd.

Updated insurance law to bring more clarity to U.K. buyers

By: Sarah Veysey

Published June 21, 2015 - 6:00am CST

LIVERPOOL, England — Updated insurance law will give U.K. buyers greater clarity about their coverage but will create more work for buyers and brokers in presenting risks to underwriters.

JPMorgan wins dismissal of shareholder lawsuit over London Whale

Published June 16, 2015 - 2:22pm CST

(Reuters) — JPMorgan Chase & Co. officials including CEO Jamie Dimon do not have to face a shareholder lawsuit claiming they failed to properly investigate the "London Whale" trading scandal that caused $6.2 billion in losses, a federal appeals court ruled on Tuesday.

Many companies in the dark on cyber risks

By: Sarah Veysey

Published June 16, 2015 - 12:53pm CST

LIVERPOOL, England — Less than one-fifth of U.K. companies believe they have a complete understanding of their cyber risk exposure, according to a study conducted by Marsh Ltd. and released Tuesday.

Common risks not being covered, U.K. survey finds

By: Sarah Veysey

Published June 16, 2015 - 11:53am CST

LIVERPOOL, England — Many risk managers in the United Kingdom do not buy insurance coverage for some of the most pressing risks their companies face, according to a survey by Airmic Ltd.

International insurer promotes executives

By: Donna Mahoney

Published June 12, 2015 - 3:24pm CST

The Navigators Group Inc., an international insurance company with corporate headquarters in Stamford, Connecticut, announced the promotion of two of its executives Friday.

Irish bank enters into pension buy-in with Prudential

By: Sophie Baker, Pensions & Investments

Published June 11, 2015 - 1:55pm CST

Northern Bank Pension Scheme, Belfast, Northern Ireland, completed a 680 million ($1 billion) pension buy-in with Prudential, said a spokeswoman for Danske Bank, the parent company.

Insurer publishes free index of world’s building codes

By: Donna Mahoney

Published June 10, 2015 - 3:28pm CST

Commercial and industrial insurer FM Global has released an all-inclusive list of countries’ building codes that can be used worldwide when building or developing facilities.

Panama insurer gets preliminary OK to operate Lloyd's syndicate

By: Sarah Veysey

Published June 10, 2015 - 10:22am CST

Panama-based insurer and reinsurer Istmo Compania de Reaseguros Inc. and Capita Managing Agency Ltd. have received approval, in principle, to set up a syndicate at Lloyd's of London.

Veteran captive insurance player joins new firm

By: Jerry Geisel

Published June 08, 2015 - 1:51pm CST

Longtime captive insurance expert Les Boughner has joined Advantage Insurance Management USA L.L.C., where, as chairman, he will focus on developing Advantage's captive insurance business.

London ILS task force meets with U.K. Treasury

By: Sarah Veysey

Published June 08, 2015 - 9:13am CST

The task force established to help the U.K. government find ways to attract insurance-linked securities business to London has had its first meeting with the U.K. Treasury and will be looking at ways to make the United Kingdom more attractive to investors.

Insurers anticipate big problems if U.K. exits the European Union

By: Sarah Veysey

Published June 07, 2015 - 6:00am CST

A United Kingdom exit from the European Union could challenge the competitiveness of the London insurance market.

Gallagher names new COO, chief risk officer for international

By: Joyce Famakinwa

Published June 05, 2015 - 5:10pm CST

Arthur J. Gallagher, the international unit of Arthur J. Gallagher & Co., has named Michael Rea as its new chief operating officer and Carol Richmond as its new chief risk officer based in London, the brokerage said Friday.

London-based insurers get jittery over Britain leaving E.U.

Published June 04, 2015 - 10:40am CST

(Reuters) — Insurers are getting nervous about the possibility Britain may leave the European Union, fearing it would curb their ability to sell policies across the continent and jeopardize years of work on a common regulatory framework.

Analysts see early benefits of XL Catlin deal

By: Mark A. Hofmann

Published June 02, 2015 - 10:03am CST

The CEO of XL Group P.L.C. is “delighted” with the state of the combined entity created by XL’s $4.28 billion acquisition of Catlin Group Ltd. a month after the deal closed.

U.K. terrorism insurance pool appoints nonexecutive director

By: Sarah Veysey

Published June 02, 2015 - 9:06am CST

Pool Reinsurance Co. Ltd., the U.K.-government-guaranteed terrorism insurance backstop, has appointed Hiscox Ltd. CEO Bronek Masojada as nonexecutive director.

London insurance market under pressure as changes take hold

By: Sarah Veysey

Published June 01, 2015 - 10:45am CST

Changing buying habits and the influx of nontraditional insurance and reinsurance capacity are among the challenges facing the London insurance market, according to a report published Monday by A.M. Best Co. Inc.

Willis completes deal with London wholesale broker

By: Sarah Veysey

Published June 01, 2015 - 9:36am CST

Willis Group Holdings P.L.C. on Monday announced the completion of its investment in London-based Miller Insurance Services L.L.P. to form a London-based wholesale insurance brokerage.

Cuts, changes will save XL Catlin $250 million

By: Mark A. Hofmann

Published May 29, 2015 - 11:08am CST

The CEO of XL Catlin is “delighted” with the state of the combined entity recreated by XL P.L.C.'s $4.28 billion acquisition of Catlin Group Ltd. a month after the deal closed.

Marsh & McLennan opens data analytics center in Ireland

By: Mark A. Hofmann

Published May 28, 2015 - 12:30pm CST

Marsh & McLennan Cos. Inc. has opened the Marsh & McLennan Innovation Center in Dublin, the company announced Thursday.

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