Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
London MGA Nexus Acquires U.S.-Based Treaty MGA from ZON Re
Jul 19 2017 // Specialty insurance managing general agent Nexus Group said it has acquired the assets of Personal Accident Treaty Reinsurance MGA operated by ZON Re, a U.S. based treaty reinsurance managing underwriter and Lloyd’s...
Panel-Maker Arconic Sued in U.S. Over Losses Linked to London Tower Fire
Jul 14 2017 // A shareholder of Arconic Inc. on Thursday filed a lawsuit accusing the company of defrauding shareholders over its supply of cladding panels used at Grenfell Tower, the London high-rise where at least 80 people died in a...
Brexit Deal Must Protect Insurance Sector’s Benefits to UK Economy: ABI
Jul 13 2017 // The insurance and long-term savings sector is one of the UK’s most productive industries, adding more than £40 billion (US$51.5 billion) a year to the economy and helping Britain thrive, according to a study...
U.S. Risk Insurance Group Acquires IMS London American
Jul 11 2017 // Property/casualty wholesaler, U.S. Risk Insurance Group LLC, has acquired Texas-based IMS London American Brokerage and Underwriting Services. IMS President Larry Mennes has been named president of U.S. Risk’s...
Former Texas Businessman Gets 7 Years for Scamming London Insurer
Jul 11 2017 // A former Texas businessman was sentenced to seven years in prison and ordered to repay nearly $4 million in an insurance scam targeting a British company. Federal prosecutors say 66-year-old Wesley Michael Woodyard was...
Grenfell Tower Insurer, Protector Forsikring, Raises Claims Estimate to $65M
Jul 10 2017 // The insurer of London’s Grenfell Tower, where at least 80 people died in a devastating fire, raised its estimate for property and liability insurance claims to 50 million pounds ($65 million) on Friday [July...
U.S. Risk Insurance Group, LLC Announces the Acquisition of IMS London American
Jul 10 2017 // Dallas, TX, July 10, 2017— U.S. Risk Insurance Group, LLC, the nation’s fifth largest Property & Casualty wholesaler, announced today that it has acquired IMS London American Brokerage and Underwriting Services...
AXIS Capital to Acquire Lloyd’s Specialty Re/Insurer Novae for $604 Million
Jul 6 2017 // AXIS Capital Holdings Ltd. announced it is acquiring Novae Group plc, a specialty re/insurer that operates through Lloyd’s of London. “The US$604 million transaction adds scale and breadth to the international...
London-Based Ed Taps Gallagher’s Blacker as Managing Director of P/C
Jun 28 2017 // Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of James Blacker as managing director of property and casualty. Blacker will take up his role in December and report to Chris...
Arconic Stops Selling Cladding for High-Rises After Grenfell Tower Tragedy
Jun 27 2017 // Arconic Inc. said on Monday it will stop global sales of plastic-filled aluminum cladding panels for use in high-rise buildings after a fire in London’s Grenfell Tower, which used those Arconic panels, killed at...
Existing EU Contracts Must Be ‘Grandfathered’ After Brexit to Avoid Complexity: Lloyd’s CEO Beale
Jun 26 2017 // Existing European Union insurance policies should stay in place after Britain leaves the bloc because the process of dividing them into British and EU contracts would be too complex, Lloyd’s of London Chief Executive...
Whirlpool Fridge Started London’s Grenfell Tower Fire that Killed at Least 79
Jun 26 2017 // A deadly fire that killed at least 79 people in a London tower block started in a Whirlpool Corp. fridge and spread at “unexpected speed” through the building’s exterior cladding, police said, indicating...
London Underwriters, Trigon to Offer Alabama Homeowners Program
Jun 26 2017 // London Underwriters LLC, a national MGA and surplus lines broker, has partnered with Birmingham based wholesaler Trigon Inc., to provide a new and exclusive low-value homeowners program for the state of Alabama. The...
Norway’s Protector Forsikring Insured Grenfell Tower Fire; Price Tag Debated
Jun 22 2017 // Olso-based Protector Forsikring is the insurer of Grenfell Tower, the residential block that was destroyed last week by a raging fire that killed 79 people. “Based on the information we have as of now, the damage is...
London Blaze-Tower Built with Cladding Used Across England
Jun 22 2017 // About 600 high-rise apartment blocks in England have been fitted with cladding similar to that used on the London tower in which 79 people died in a devastating fire last week, Prime Minister Theresa May’s office...
UK, EU Insurers & Banks Need ‘New System’ for Their Post-Brexit Business
Jun 20 2017 // British and European Union banks need a new system to let them do business with each other after Brexit to avoid splitting markets, Britain’s finance minister Philip Hammond said on Tuesday. Britain, the EU’s...
‘Complicated’ Brexit Talks Begin with Questions Over What Britain Wants
Jun 19 2017 // Almost a year since Britons voted to leave the European Union, Brexit talks finally began on Monday amid confusion over what exactly the U.K. government wants from the divorce. What U.K. Brexit Secretary David Davis...
Tragic London Fire Raises Questions About ‘Stay Put’ High-Rise Safety Rule
Jun 19 2017 // A catastrophic blaze at a London apartment tower has brought new scrutiny to a long-accepted, counterintuitive rule for people in tall buildings: If the blaze breaks out elsewhere in the structure, don’t...
Prime Minister May: ‘People Deserve Answers’ on London Tower Blaze
Jun 16 2017 // British Prime Minister Theresa May on Thursday promised a public inquiry into a fire that gutted a 24-story apartment block killing at least 17 people, as the government faced questions about how such a devastating blaze...
London Tower Block Fire Death Toll Rises
Jun 15 2017 // The death toll in a fire that ripped through a 24-story block of flats in London rose to 17 on Thursday, with many people still missing and firefighters facing hazardous conditions as they searched the charred wreck. Smoke...
