Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
Guy Carpenter Promotes Reina to CEO Continental Europe, MENA
Mar 5 2014 // Guy Carpenter has announced that Massimo Reina has been promoted to the position of CEO of Continental Europe and MENA [Middle East/North Africa], with immediate effect. He succeeds Peter Stubbings, who has taken up the...
RSA’s CEO Hester Taps Buffett for Reinsurance; Confirms Share Sale
Feb 28 2014 // After less than a month on the job, RSA Insurance Group Plc Chief Executive Officer Stephen Hester announced a stock sale and tapped Warren Buffett for reinsurance to help strengthen the insurer after its scandal in...
Hardy Underwriting Appoints Brosnan to Replace Merry as Chief Executive
Feb 20 2014 // Hardy (Underwriting Agencies) Limited, a specialist London-based re/insurance underwriting business, announced the appointment of David Brosnan as its chief executive. He has also been appointed to serve on the Hardy Board...
EU’s Justice Chief Reding Warns UK Exit Would Isolate City of London
Feb 19 2014 // London’s financial services center would lose access to the wider European Union should Britain quit the bloc, the EU’s justice chief said on Monday, warning that such a move would reduce its status to that of...
Flooded U.K. Homeowners Face Declining Values: No Mortgages or Insurance
Feb 19 2014 // Homeowners in some of Britain’s wealthiest districts face a drop in property values and the prospect their homes may be uninsurable as record floods blight towns along the River Thames. About 5,800 homes have been...
U.K. Towns Face More Floods as Insurer Losses Estimated at $1.6 Billion
Feb 11 2014 // Waterlogged towns on the River Thames west of London braced for more floods as rains persisted across southern England and Deloitte LLP said the storms may cost insurers £1 billion ($1.6 billion) by April. The Environment...
Catlin Group Increases Net Income to $392 Million in 2013
Feb 10 2014 // The Bermuda-based, London headquartered, Catlin Group announced very good financial results for the year ended December 31, 2013, with a 27 percent increase in profit before tax to $432 million, compared to $339 million in...
RSA Hires Ex-RBS Boss Hester as CEO after Irish Losses
Feb 5 2014 // RSA Insurance Group Plc has hired former Royal Bank of Scotland Group Plc CEO Stephen Hester to lead the U.K. insurer as it seeks to put a scandal at its Irish unit behind it. Hester, 53, succeeds Simon Lee, who quit the...
Ironshore Appoints London-Based Horton as Director U.S. Liability Risks
Feb 3 2014 // Bermuda-based Ironshore International has appointed Chris Horton to a new position as Director of Underwriting for U.S. Liability risks, including Specialty Casualty, IronPro, IronHealth and Environmental business lines....
Beazley, Hiscox Form D&O Consortium with Capacity up to $50 Million
Jan 28 2014 // Lloyd’s of London insurers Beazley and Hiscox have partnered to offer brokers and clients a D&O consortium through which the syndicates will provide materially higher limits and offer additional options to...
Car Use No Longer Growing in Developed World, But Why?
Jan 20 2014 // Car use appears to have leveled off and even started falling in many of the world’s advanced economies long before the global downturn in 2008, according to transport experts. The slowdown brings to an end several...
Europe to Relax Reinsurance Ban on Iranian Oil Exports Next Week
Jan 16 2014 // Europe is days from suspending a ban on reinsuring tankers hauling Iranian oil, a measure that helped cut the nation’s crude exports by more than 50 percent when it was implemented. The six-month relaxation starts...
RSA Shares Soar on Report Irish Unit May Need No More Fresh Capital
Jan 6 2014 // RSA Insurance Group Plc rose the most in almost five years in London trading amid a report that the insurer’s Irish unit may require no further capital injections. The stock jumped as much 7.5 percent, the biggest...
U.K. Christmas Exodus Hampered as Storms Lash Railways, Airports
Dec 24 2013 // Storms that lashed southern England yesterday have closed dozens of railway lines, halted ferry sailings and left airports struggling to restore services as millions of Britons attempt to travel before Christmas. Ten U.K....
Ratings Recap: Sunderland Marine, TransRe London, Instituto Nacional (Costa Rica)
Dec 20 2013 // A.M. Best Europe – Rating Services Limited has placed under review with developing implications the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of UK-based...
London Theaters Checked After 88 Hurt in Apollo Ceiling Collapse
Dec 20 2013 // Checks will be carried out on historic theaters in London’s West End entertainment district today after 88 people were hurt when part of a ceiling collapsed during a performance last night. Seven people were treated...
Torus Appoints Milne to Accident & Health Team
Dec 19 2013 // Torus, the global specialty insurer, announced that John Milne has joined the company as Accident & Health Underwriter. The bulletin said the “appointment furthers Torus’ commitment to growing its Accident...
Amid Asset Sale Talk, RSA CEO Sees Emerging Market Potential
Nov 21 2013 // RSA Insurance Group Plc Chief Executive Officer Simon Lee said the insurer has further growth potential in emerging markets and maintains a “robust” capital position, amid speculation it may sell assets. Lee,...
Allianz Looks to Boost U.S. Presence, Improve Fireman’s Fund: Bhojwani
Nov 15 2013 // Allianz SE, Europe’s largest insurer, said it is committed to bolstering operations in the U.S. after international rivals scaled back in the country. “It is a monster market,” Gary Bhojwani, the...
European Officials Reach Deal on Solvency II Insurance Rules
Nov 14 2013 // European politicians reached an agreement paving the way for new rules designed to make insurance companies safer after 13 years of wrangling with the industry and regulators. The European Commission, European Parliament...