Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
New London Reinsurer Sets Sights on Africa
Nov 26 2014 // One Re Ltd., the first reinsurer approved under Britain’s “twin peaks” system of financial regulation, said it’s seeking clients across 38 African countries in the next year as growth outpaces...
UK Anti-Terrorism Proposal Would Clarify Insurance Law on Ransom Payments
Nov 24 2014 // The U.K. government will introduce anti-terrorism legislation this week requiring internet companies to provide user data to authorities. The bill, to be published on Nov. 26 and fast-tracked through Parliament so it...
China Re to Underwrite at Lloyd’s, Syndicate to Be Managed by Catlin
Nov 21 2014 // China Reinsurance (Group) Corporation has received approval from Lloyd’s to transform its existing special purpose syndicate into a stand-alone syndicate that will underwrite a diversified book of business, initially...
Russian Firms Face Huge Insurance Costs as Foreign Insurers Flee
Nov 20 2014 // Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, worried that any business they undertake is at risk from future measures and an...
CGSC to Rebrand London Insurance Brokerage Operations for 50th Year
Nov 18 2014 // Cooper Gay Swett & Crawford (CGSC) has announced the renaming of its London market brokerage businesses in advance of its 50th year of trading. From January 1st, 2015, CGNMB LLP will become the single united brand,...
Catlin Group Interim Report Shows 11% Hike in Gross Premiums Written
Nov 13 2014 // Catlin Group Limited, the Bermuda-based specialty property & casualty insurer and reinsurer, has issued its interim management statement for the nine-month period ended September 30, 2014, which shows premiums reported...
RSG Hires Peeters to Head New London MGA
Nov 13 2014 // Ryan Specialty Group (RSG), the global specialty insurance services business based in Chicago, has announced the appointment of Mark Peeters as CEO of a new London-based managing general agent (MGA) specializing in...
Old Mutual to Invest in African Acquisitions as Sales Slow
Nov 5 2014 // Old Mutual plc, Africa’s biggest insurer, has 4.3 billion rand ($386 million) for acquisitions on the continent, where growth rates higher than advanced countries may help boost sales after third-quarter growth...
Hedge Funds Move Into Catastrophe Reinsurance
Oct 29 2014 // Hedge funds are muscling their way into the market to share the cost of cleaning up after natural catastrophes, but skeptics are questioning whether they will stick around ahead of the next “big one” as...
Ryan Specialty Hires McKenna in London for MGA Strategy
Oct 28 2014 // Ryan Specialty Group (RSG), the specialty insurance services business based in Chicago, has hired Peter McKenna in a new senior role to oversee the development of the company MGA strategy in the UK market. McKenna, who...
Kentucky OxyContin Case Against Purdue Pharma Leads Fight Over Opioid Abuse
Oct 22 2014 // No one rises as Circuit Judge Steven Combs enters his courtroom in Pikeville, Kentucky. Combs wears a white shirt and yellow tie, no robe. Lawyers approach the bench as their cases are called, shake the judge’s hand...
Hardy Promotes Wright in Asia; Hires Bond and Osorio in London
Oct 21 2014 // Hardy Underwriting Asia Pte Ltd (Hardy Asia), a subsidiary of CNA Financial Corporation, has promoted Chris Wright as director and principal officer for Hardy Asia. (Hardy is a specialist underwriting business operating...
Brokers Willis Group, Miller Talk Merger of Wholesale Brands
Oct 20 2014 // Willis Group Holdings and Miller Insurance Services LLP are engaged in talks to merge their wholesale insurance businesses. The resulting wholesale brokerage firm would trade under the Miller brand, governed and regulated...
P/C Insurers Rush to Meet Rising Demand for Cyber Insurance
Oct 9 2014 // Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that’s been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this...
Lloyd’s CEO Expects Cyber Insurance Surge
Oct 8 2014 // Lloyd’s of London Chief Executive Officer Inga Beale expects the market for cyber insurance to surge after hackers attacked some of the largest companies in the U.S., including JPMorgan Chase & Co. and Home Depot...
Willis Re Strengthens Turkish Expertise with Gras Savoye Agreement
Sep 22 2014 // Willis Re announced that it has strengthened its expertise in the Turkish market by entering into an agreement with Gras Savoye Turkey. Kemal Kurklu has joined Gras Savoye as Executive Director-Treaty Reinsurance in...
‘Minimal’ Insurance Effect If Scotland Exits U.K., Says Lloyd’s of London Chair
Sep 15 2014 // Lloyd’s of London Chairman John Nelson said several years of uncertainty will follow if Scotland leaves the U.K. “The immediate effect would be a period of perhaps two years of uncertainty,” said Nelson,...
UK to Issue First Renminbi Bond; Lloyd’s of London Gets OK for Beijing Branch
Sep 15 2014 // Britain will become first Western government to issue an offshore bond in China’s renminbi currency, finance minister George Osborne said on Friday, deepening efforts to build financial links with the world’s...
London Financial Leaders Weigh Risks of Scotland Shock
Sep 12 2014 // As Scotland stares history in the face, London’s financial guardians are preparing for their worst-case scenario. Six days before a referendum that could see Scotland ending its 307-year political bond with the...
Catlin Appoints Two Chief Underwriting Officers for London Hub
Sep 9 2014 // Paul Greensmith and Jonathan Gale have been appointed chief underwriting officers for Catlin Group Limited’s London hub, with primary responsibilities including insurance and reinsurance, respectively. Greensmith...
