Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
Q3 Catastrophe Losses Will Bring Rate Hikes by London Market Insurers: Fitch
Oct 16 2017 // Catastrophe losses from the recent U.S. hurricanes and Mexican earthquakes will lead to price rises on London market insurers’ loss-affected lines and could also affect wider market pricing trends, according to Fitch...
Everest Re in London Taps Hiscox’s Armitage, Gairdner from Tokio Marine Kiln as Sr. Underwriters
Oct 12 2017 // Everest Re Group Ltd. announced the addition of several new senior underwriters to the London team of Everest Reinsurance (Bermuda) Ltd. Luke Armitage joins Everest Re’s London office as senior underwriter for motor...
Hiscox Names Markham as CEO for London Market Business
Oct 11 2017 // Specialist global insurer Hiscox announced the appointment of Kate Markham as CEO for its London Market business, subject to regulatory approval. Markham has been at Hiscox for five years and most recently was managing...
Uber: Giving UK Drivers Workers’ Rights Would Cost Millions of Pounds
Oct 10 2017 // Uber said on Tuesday that paying National Insurance contributions for its British drivers would add tens of millions of pounds to the taxi app’s costs were they to be deemed employees. Uber currently classifies its...
Insurers, Reinsurers Tally Maria, Irma, Harvey and Other Disaster Losses
Oct 10 2017 // Losses from Hurricane Maria and other recent natural disasters, including hurricanes Irma and Harvey, the Mexico City earthquake and other events, have led global insurers and reinsurers to issue profi warnings.t Below are...
UK Broker Capsicum Re Appoints Williams as Cyber Security Specialist
Oct 9 2017 // Capsicum Re, the London-based specialist reinsurance broker, announced the appointment of Conrad Williams as the latest addition to its cyber team. He will report to Ian Newman and Samantha Thompson, partners in Capsicum...
German Firms with UK Operations Should Prepare for ‘Hard Brexit’
Oct 5 2017 // German firms with a presence in Britain should make provisions now for a “very hard Brexit,” Germany’s biggest industry group said on Thursday, because the government in London does not know what it...
Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters
Oct 3 2017 // Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case...
Chubb Taps Hiscox’s Hosking, Promotes Bear to UK Middle Market Broker Roles
Oct 3 2017 // Chubb has announced the appointment of two new positions within its Middle Market Independent Broker segment. Hannah Hosking has been appointed as Head of Distribution – Independent Brokers UK&I, while Steve Bear has...
UPDATE 2: Global Re/Insurers Estimate Price Tag of Q3 Hurricanes & Quakes
Oct 3 2017 // Losses from Hurricane Maria and other recent 2017 natural catastrophes, including Hurricanes Irma and Harvey, the Mexico City earthquakes and other events, have led global insurers and reinsurers to issue profit...
Heffernan Insurance Brokers Opens London Unit, Led by JLT’s Murrell
Oct 2 2017 // Heffernan Insurance Brokers, the Walnut Creek, Calif.-based independent insurance broker, announced it has opened a London brokerage, Heffernan Brokers UK Ltd., led by Nick Murrell as executive vice president. Murrell...
Puerto Rico Power Outage to Mean More Business Interruption Claims
Oct 1 2017 // Puerto Rico’s island-wide power outage will mean a surge in insurance claims for lost business income that will increase the already high cost of damage caused by Hurricane Maria, likely tipping some big reinsurers...
Top Challenges for London’s Re/Insurers Are Soft Market, Brexit, Regulations: IUA
Sep 28 2017 // The top three challenges facing London market companies are the soft market, Brexit and regulatory compliance, according to a survey of International Underwriting Association (IUA) members. In an online questionnaire,...
Update: Lloyd’s of London Reports 16% Drop in H1 2017 Profit to $1.6B
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
EU Regulator Warns UK Insurers to Avoid ‘Fronting’ in Post-Brexit EU HQs
Sep 28 2017 // London-based insurers applying for licenses to operate in the European Union after Brexit will be scrutinized for any attempts to game the system, the bloc’s insurance watchdog said. Insurance specialists say some...
Ironshore’s New Iron-Excess MGA Is Based on Iron-Starr Excess Agency Model
Sep 26 2017 // Using a Bermuda joint venture between Ironshore and C.V. Starr & Co. as a model, Ironshore announced the launch of Iron-Excess on Monday. Ironshore, a Liberty Mutual company, describes Iron-Excess as an expansion of...
Uber CEO Apologizes to Londoners for Taxi App’s Mistakes
Sep 26 2017 // Uber’s new boss Dara Khosrowshahi apologized to Londoners for the taxi app’s mistakes and pledged to make changes as the Silicon Valley firm tries to overturn a decision to strip it of its license in one of its...
London Decides to Strip Uber of Its License; Uber Will Appeal
Sep 22 2017 // London stripped Uber on Friday of its license to operate from the end of September in a huge blow to the taxi app that will affect more than 40,000 drivers in one of the world’s biggest cities. Regulator Transport...
XL Group Picks Dublin for Post-Brexit EU Headquarters
Sep 20 2017 // XL Group is the latest property/casualty insurer to make plans to move its European insurance company headquarters from the United Kingdom in response to its vote to leave the European Union. The insurer and reinsurer...
Britain to Lose Out on 10,000 Finance Jobs in First Wave of Brexit Reaction: Reuters Survey
Sep 18 2017 // Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe’s single market, according to a Reuters survey of firms employing the bulk of...
