Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
RSA Hires Ex-RBS Boss Hester as CEO after Irish Losses
Feb 5 2014 // RSA Insurance Group Plc has hired former Royal Bank of Scotland Group Plc CEO Stephen Hester to lead the U.K. insurer as it seeks to put a scandal at its Irish unit behind it. Hester, 53, succeeds Simon Lee, who quit the...
Ironshore Appoints London-Based Horton as Director U.S. Liability Risks
Feb 3 2014 // Bermuda-based Ironshore International has appointed Chris Horton to a new position as Director of Underwriting for U.S. Liability risks, including Specialty Casualty, IronPro, IronHealth and Environmental business lines....
Beazley, Hiscox Form D&O Consortium with Capacity up to $50 Million
Jan 28 2014 // Lloyd’s of London insurers Beazley and Hiscox have partnered to offer brokers and clients a D&O consortium through which the syndicates will provide materially higher limits and offer additional options to...
Car Use No Longer Growing in Developed World, But Why?
Jan 20 2014 // Car use appears to have leveled off and even started falling in many of the world’s advanced economies long before the global downturn in 2008, according to transport experts. The slowdown brings to an end several...
Europe to Relax Reinsurance Ban on Iranian Oil Exports Next Week
Jan 16 2014 // Europe is days from suspending a ban on reinsuring tankers hauling Iranian oil, a measure that helped cut the nation’s crude exports by more than 50 percent when it was implemented. The six-month relaxation starts...
RSA Shares Soar on Report Irish Unit May Need No More Fresh Capital
Jan 6 2014 // RSA Insurance Group Plc rose the most in almost five years in London trading amid a report that the insurer’s Irish unit may require no further capital injections. The stock jumped as much 7.5 percent, the biggest...
U.K. Christmas Exodus Hampered as Storms Lash Railways, Airports
Dec 24 2013 // Storms that lashed southern England yesterday have closed dozens of railway lines, halted ferry sailings and left airports struggling to restore services as millions of Britons attempt to travel before Christmas. Ten U.K....
Ratings Recap: Sunderland Marine, TransRe London, Instituto Nacional (Costa Rica)
Dec 20 2013 // A.M. Best Europe – Rating Services Limited has placed under review with developing implications the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of UK-based...
London Theaters Checked After 88 Hurt in Apollo Ceiling Collapse
Dec 20 2013 // Checks will be carried out on historic theaters in London’s West End entertainment district today after 88 people were hurt when part of a ceiling collapsed during a performance last night. Seven people were treated...
Torus Appoints Milne to Accident & Health Team
Dec 19 2013 // Torus, the global specialty insurer, announced that John Milne has joined the company as Accident & Health Underwriter. The bulletin said the “appointment furthers Torus’ commitment to growing its Accident...
Amid Asset Sale Talk, RSA CEO Sees Emerging Market Potential
Nov 21 2013 // RSA Insurance Group Plc Chief Executive Officer Simon Lee said the insurer has further growth potential in emerging markets and maintains a “robust” capital position, amid speculation it may sell assets. Lee,...
Allianz Looks to Boost U.S. Presence, Improve Fireman’s Fund: Bhojwani
Nov 15 2013 // Allianz SE, Europe’s largest insurer, said it is committed to bolstering operations in the U.S. after international rivals scaled back in the country. “It is a monster market,” Gary Bhojwani, the...
European Officials Reach Deal on Solvency II Insurance Rules
Nov 14 2013 // European politicians reached an agreement paving the way for new rules designed to make insurance companies safer after 13 years of wrangling with the industry and regulators. The European Commission, European Parliament...
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...
