Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
UK MGA Nexus Group Concludes Financial Lines Coverage Pact with PartnerRe
Jun 12 2013 // Nexus Group, a London-based Specialty MGA, has announced a transaction with reinsurer PartnerRe, which covers the current core financial lines underwritten by Nexus for a term of up to five years. Colin Thompson, CEO of...
HCC International Names Button London Market Chief Underwriting Officer
Jun 10 2013 // HCC Insurance Holdings announced the promotion of Simon Button to Chief Underwriting Officer for HCC International Insurance Company PLC and Lloyd’s Syndicate 4141 (known collectively as HCC International). He...
Button Named London Market Chief Underwriting Officer for HCC International
Jun 7 2013 // HCC Insurance Holdings Inc. has p[romoted of Simon Button to chief underwriting officer for HCC International Insurance Co. PLC and Lloyd’s Syndicate 4141, reporting to HCC International’s Chief Executive...
Insured Losses from Europe Floods Estimated at $2.65B, Less Than in 2002
Jun 7 2013 // The losses insurers face from the worst flooding in central Europe since 2002 may be lower than those resulting from the deluge 11 years ago even as the toll on local economies looms larger. Insured losses may reach 2...
UK’s APC Lifts Liability, Property Limits to Quote Risks Online
May 29 2013 // The UK-based commercial insurance underwriting agency, APC, announced that it has increased the limits on the majority of its public and products liability risks to £10 million ($15 million] and property risks to £50...
London Underwriter Becomes First to Insure California Carbon Credits
May 23 2013 // Parhelion Underwriting Ltd. became the first insurer to offer a policy to protect companies from the invalidation of carbon offset credits sold as part of California’s cap-and-trade program. Parhelion, based in...
Lloyd’s Report Highlights Solar Storm Threat as Emerging Risk
May 23 2013 // “A large solar storm could leave tens of millions of people in North America without electrical power for several months, if not years, potentially costing trillions of dollars,” according to Lloyd’s...
London Is Venue of Choice for ‘Legal Tourists’ Wanting to Settle Disputes
May 9 2013 // Foreigners brought almost two-thirds of all lawsuits heard in London’s leading commercial court over the last five years, according to a new survey, cementing the city’s reputation as the venue of choice for...
Ebix Europe to Provide Tech Services for Ropner Insurance Services
May 1 2013 // Ebix Europe, a subsidiary of Atlanta-based Ebix, Inc., which provides global insurance trading platforms and messaging products, has been appointed by marine broker Ropner Insurance Services to provide its London market...
Qatar Financial Centre Authority Sells Qatarlyst to Ebix Inc.
Apr 9 2013 // The Qatar Financial Centre Authority (QFCA) announced that it has reached an agreement to sell Qatarlyst, an electronic trading exchange for the global insurance and reinsurance industry, to Ebix Singapore Pte Limited, a...
Xchanging Begins Launch of Free-to-all Wi-Fi in City of London
Apr 8 2013 // Xchanging, the business process, procurement and technology services provider and integrator, announced that it has begun the roll out of free Wi-Fi access in the City of London. The announcement said “the first...
Big Banks Win Dismissal of Most LIBOR Rate Rigging Claims
Mar 31 2013 // The world’s biggest banks won a major victory on Friday when a U.S. judge dismissed a “substantial portion” of the claims in private lawsuits accusing them of rigging global benchmark interest rates. The...
London Maintains Top Position in Latest Global Financial Centers Index
Mar 26 2013 // According to the latest survey, conducted by the Financial Center Futures team at the London based Z/Yen Group, London, New York, Hong Kong and Singapore remain the top four centers The GFIC’s top 10 financial...
Abernathy Out, Hooper In as CEO In Shake-Up at Cooper Gay Swett & Crawford
Mar 1 2013 // In a major personnel move, global wholesale insurance and reinsurance broker Cooper Gay Swett & Crawford has appointed Shaun Hooper as president and chief executive officer of its wholesale, reinsurance broking and...
EU Formally Proposes Plans for 11-Nation Financial Trading Tax from 2014
Feb 14 2013 // The European Union’s executive formally proposed on Thursday a tax on financial trading in 11 countries to raise up to €35 billion [$46.7 billion] annually, a step investors said would hit savers and pension...
Insurance Exec. Bathurst to Head Mystic Capital’s London Office
Feb 12 2013 // U.S.-based Mystic Capital Advisors Group, LLC announced thay Andrew Bathurst and Highhurst Consulting Limited are to head its London investment banking initiatives. Bathurst previously served as CEO of Argenta Syndicate...
New MGA Ascent Underwriting Launched in London; Targets Emerging Cyber Risks
Feb 11 2013 // Ascent Underwriting, a specialist Managing General Agent (MGA) providing coverage for emerging cyber risks, has been launched in London, targeting clients ranging from micro businesses to international corporations. The...
Catlin Group’s $339 Million 2012 Profit Less than Forecast as Sandy Loss Widens
Feb 8 2013 // Bermuda-based insurer Catlin said its profit fell short of analysts’ forecasts because of a bigger than expected claims bill from Superstorm Sandy and the Costa Concordia shipwreck. Catlin, operator of the biggest...
RBS Fined $612 Million for Libor Rate Rigging
Feb 7 2013 // Royal Bank of Scotland will pay $612 million to U.S. and British authorities to settle allegations it manipulated benchmark interest rates, and regulators warned there is more to come in the global investigation. RBS...
Ironshore Europe Names Lewis to Lead London Market Healthcare Expansion
Feb 5 2013 // Ironshore Europe Ltd. (IEL) announced that Jamie R. Lewis has joined the company as Senior VP –Healthcare. He will be, working closely with Matt Dolan, the president of IronHealth, and will be responsible for developing...
