Lloyd’s of London News

Beazley’s ROE of 19% Will Be ‘Difficult’ to Sustain in Current Market: CEO Horton

Beazley Plc Chief Executive Officer Andrew Horton said the company’s return on equity of 19 percent in 2015 isn’t sustainable against a backdrop of increased competition and falling insurance rates. “Margins are bound to come under pressure,” the CEO said in …

Cobalt, Chaucer Offer 1st Lloyd’s Shariah Compliant Political Violence Cover

Shariah compliant managing general agent Cobalt Underwriting has launched a new political violence product backed by Chaucer. Cobalt, the London market’s only Shariah compliant underwriting agency, will offer the product with Lloyd’s capacity provided by Syndicate 2084, the Shariah compliant …

Mitsui Sumitomo Insurance Completes Acquisition of ‘MS Amlin’

Lloyd’s of London insurer Amlin plc announced the completion of its acquisition by Mitsui Sumitomo Insurance Co. Ltd., a wholly owned subsidiary of MS&AD Insurance Group Holdings Inc., following receipt of regulatory and legal approvals. MSI has acquired the entire …

Lloyd’s Open Broker Sessions in Singapore Designed to Speed Placement Process

Lloyd’s has started holding open trading sessions at its Singapore hub, which are designed to speed up insurance placements. The sessions enable brokers to see multiple markets at one time and provide faster turnaround times as quotes are given, lines …

Lloyd’s Underwriter Marketform Appoints Murru as Financial Lines Underwriter

Specialist Lloyd’s underwriter Marketform, which operates Syndicate 2468 at Lloyd’s, announced that Roberto Murru joined the company as an underwriter in its growing financial lines team led by Ian West. Fluent in Italian, Murru began his insurance career in 1985 …

U.S. Utilities Examine Their Insurance Protection After Ukraine Grid Cyber Attack

U.S. utilities are looking hard at their cyber vulnerabilities and whether they can get insurance to cover what could be a multi-billion dollar loss after hackers cut electric power to more than 80,000 Ukrainians last month. The Dec. 23 incident …

M&A to Intensify as Insurers Hunt for Top-Line Growth: Willis Towers Watson

The competition for attractive assets will intensify in the next three years as the majority of insurers (82 percent) plan to acquire, while only one-third intend to divest, according to a survey of senior insurance executives conducted by Willis Towers …

Marsh Launches Global Excess Cyber Risk Facility Called ‘Cyber ECHO’

Marsh has launched “Cyber ECHO”, a global excess cyber risk facility that provides more reliable insurance coverage for organizations around the world. Following a series of high-profile cyber losses, underwriters have become more selective and may actually reduce the amount …

Vaidyan Appointed to Lead GIC Re as India’s 1st Insurer Chairwoman

Alice Vaidyan has been appointed as chair and managing director of General Insurance Corp. of India (GIC Re), the national reinsurer.  She is the first woman to be appointed as chair in the history of Indian insurance industry. Vaidyan previously …

Armour Group Invests in Cobalt, Shariah Compliant Re/Insurance Provider

Cobalt Insurance Holdings Ltd., the London-based provider of Shariah compliant insurance and reinsurance has announced a strategic investment by Armour Group Holdings Ltd., the Bermuda-based diversified insurance group. Financial considerations were not disclosed. The strategy of Bermuda-based Armour focuses on niche …