Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
Doubts About CEO’s Controls at Insurer Raised by RSA Irish Accounting Inquiry
Nov 13 2013 // In September, RSA Insurance Group Plc Chief Executive Officer Simon Lee expanded the role of his top Irish lieutenant, Philip Smith, and praised his “outstanding record.” Two months later, he suspended...
Irish Regulator Says It Flagged RSA Reserving Issues in August
Nov 12 2013 // Ireland’s financial regulator first identified concerns over RSA Insurance Group Plc’s local unit in August, three months before the insurer suspended its three top executives in the country amid an accounting...
New UK Financial Watchdogs Face Surge in Staff Turnover: Reuters
Nov 12 2013 // Staff have been quitting Britain’s financial watchdogs at nearly twice the rate since they were split into two bodies this year, data seen by Reuters shows, at a time when experts warn of a regulatory brain drain in...
RSA Tumbles after Insurer Suspends Executives at Irish Operation
Nov 11 2013 // RSA Insurance Group Plc, Britain’s biggest non-life insurer, tumbled by the most in more than nine years in London trading after the company suspended three top executives at its Irish operation. The stock fell as...
Aon Revises London Short Excess Liability Follow Form for Global Clients
Nov 8 2013 // Aon Risk Solutions, the global risk management business of Aon plc, has released its latest London Short Excess Liability Follow form policy (London Short #2) to provide clients with more contract certainty, clarity and...
Cobalt CEO Says London Meeting Islamic Underwriting Needs
Nov 4 2013 // Islamic business leaders have been told London has the ability to deliver highly rated re/insurance capacity to meet their desire to have risks covered in a Shariah compliant way. Speaking at the 9th World Islamic Economic...
Atlas General Announces Tribunalization with Lloyd’s of London
Nov 4 2013 // San Diego, CA, 11/4/13 – Atlas General Insurance Services, LLC, is pleased to announce that it has formally completed the “tribunalization” process with Lloyd’s of London. This authorizes Atlas as a...
Storm Kills Five in UK, Netherlands; Causes Power Cuts, Travel Chaos
Oct 28 2013 // Hurricane strength winds battered Britain and the Netherlands on Monday, killing five people, cutting power and forcing the cancellation of hundreds of flights and train journeys before the storm barreled further into...
U.K. Braces for Hurricane-Force Winds in Worst Storm Since 1990
Oct 25 2013 // Southern England is girding for 90 mile-per-hour winds as the biggest storm since 1990 is forecast to fell trees and damage buildings. Rain and high winds are predicted to lash the area on the evening of Oct. 27 through to...
Willis to Allocate Share of London Business to Pre-Selected Insurers
Oct 22 2013 // Willis Group Holdings Plc, the third-largest insurance broker by market value, agreed to allocate as much as 25 percent of premiums from the London corporate specialist market to pre-selected insurers. Underwriters in the...
IMS/London American Adds Lundy as VP in San Antonio
Oct 15 2013 // Property/casualty insurance wholesaler, IMS/London American, announced that Don Lundy has joined the company as vice president/branch manager for its San Antonio, Texas, location. Lundy most recently served as vice...
Michael Jackson Wrongful Death Case to Change Tune for Entertainment Insurance
Oct 2 2013 // When Britney Spears takes the stage this December for the first of a heavily hyped 100-show two-year residency at Planet Hollywood in Las Vegas, the loudest cheers may come from her insurance underwriters. Along with the...
Aspen Re Appoints Lewis to Head London Casualty Unit
Oct 2 2013 // Aspen Reinsurance has appointed Jamie Lewis as head of its casualty reinsurance business in London. Lewis will be responsible for developing Aspen Re’s book of casualty reinsurance treaty and facultative business...
Xchanging Launches New wifi service for London Insurance Market
Sep 26 2013 // Xchanging, the business process, procurement and technology services provider, has launched a free wifi service for the London Underwriting Center (LUC), home to many insurance businesses. The service will support the...
ProAssurance Backing New Lloyd’s Syndicate
Sep 25 2013 // Birmingham, Alabama-based medical liability insurer ProAssurance Corp. will be the majority capital provider to the proposed new Syndicate 1729 at Lloyd’s of London. Its planned inception date is January 1, 2014. The...
JLT to Acquire Towers Watson Reinsurance Brokerage Unit, Expand Into U.S.
Sep 20 2013 // UK-based broker Jardine Lloyd Thompson Group plc (JLT) said it is acquiring the reinsurance brokerage business of New York-based Towers Watson for $250 million. JLT said the acquisition would provide “a very strong...
London Police Must Repay Insurers for Riot-Damaged Sony Warehouse
Sep 12 2013 // London police must repay the insurers of a warehouse that held Sony Corp. goods, damaged in riots that spread through the city in the summer of 2011, a judge ruled. Judge Julian Flaux said the attack on a building in north...
Best Expresses Concerns over London Market Placement Deals
Sep 5 2013 // A.M. Best has been studying the recent innovation in the London insurance market, exemplified by the arrangement between Aon and Berkshire Hathaway announced in March, which automatically shares a percentage of premiums...
Lawsuit Against Sotheby’s Claims $218 Painting Is Actually a $16M Caravaggio
Aug 29 2013 // A painting bought by a British naval doctor for 140 pounds ($218) in 1962 may now be worth as much as 10 million pounds if his descendant can prove it’s a Caravaggio. The authenticity of “The Cardsharps”...
Aon Extends Partnership with NFL for International Series in 2013-2014
Aug 13 2013 // Aon plc is making the best of its new London domicile. With its roots in Chicago, the home of one of the National Football League’s most historic teams, Aon has embarked on bringing NFL football to the UK Aon...
