Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
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...
How New EU Rules Make It Tougher for Insurers, Hedge Funds to Manage Currency Risk
Sep 15 2017 // New European Union regulations on foreign exchange trading will make it harder and more expensive to manage currency risk, traders said, especially for large financial counterparties such as hedge funds and insurance...
Specialty MGAs Continue to be Popular Acquisition Targets
Sep 14 2017 // With growth prospects becoming rarer in the continuing competitive insurance market, carriers are among three sets of buyers fueling a hot M&A environment for specialized managing general agencies, representatives of...
Allianz Specialty Names Vassallo to London Energy Team
Sep 11 2017 // Allianz Global Corporate & Specialty SE (AGCS) has appointed Anthony Vassallo as senior underwriter leading downstream energy for the regional unit in London that includes the UK, Ireland, Dubai, Russia, the Nordic...
Re/Insurance Broker BMS Launches Spain-Based BMS Iberia
Sep 6 2017 // BMS Group Ltd., the London-based specialist insurance and reinsurance broker, announced the launch of a new European venture, BMS Iberia. The operation will be spearheaded by recently appointed directors Fernando Claro in...
Guy Carpenter Promotes Boyce to Deputy CEO of Global Specialties
Sep 6 2017 // Guy Carpenter & Co., the global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Cos., announced that James Boyce has been promoted to deputy CEO, Global Specialties, effective...
Fidelis Names Novae’s Burford as Chairman of Specialised Risks in London
Aug 30 2017 // Fidelis Insurance announced that Ian Burford will join the London underwriting team as chairman of Specialised Risks, effective Sept. 4, 2017. Bringing over 30 years of experience in the London insurance market, Burford...
IGI Appoints Jabsheh as Executive Director, IGI UK, in Expanded Company Role
Aug 29 2017 // International General Insurance Holdings Ltd. (IGI), the specialist commercial insurer and reinsurer, has announced the appointment of Waleed Jabsheh as executive director of IGI UK as part of the company’s plans to...
UK Financial Services Sector Seeking ‘Ambitious’ Brexit Trade Agreement
Aug 24 2017 // The UK’s financial sector is seeking an “ambitious” trade pact between Britain and the European Union to try to prevent a costly shift of jobs and business to the continent once the country leaves the...
