Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
HCC Appoints New Management Team at London Office
Oct 22 2002 // Houston-based HCC Insurance Holdings Inc. announced the appointment of a new executive management team at the London branch of their largest insurance company subsidiary, Houston Casualty Company. Nick Hutton-Penman was...
ACE Announces Executive Appointments at AOG Division
Oct 17 2002 // Bermuda’s ACE Limited announced a series of executive appointments at ACE Overseas General (AOG). Roger Giddings has been named Sr. VP and Head of Offshore Energy Underwriting for the newly created ACE Global Energy...
Recent Losses Increase Pressure to Raise Hull Rates
Oct 15 2002 // The Joint Hull Committee (JHC), a cooperative organization between the London-based International Underwriting Association (IUA) and Lloyd’s Underwriters’ Association, announced that recent hull losses would...
The State of the Surplus Lines Market with Michael J. Hall
Sep 30 2002 // Insurance Journal publisher Mark Wells recently spoke with Michael J. Hall, chairman of M.J. Hall & Company Inc. and president of Golden Bear Insurance Company, both headquartered out of Stockton, Calif. Hall shared...
Corporate Members Approve a Major Course Change for Lloyd’s
Sep 30 2002 // Friday the 13th of September will henceforth be known at Lloyd’s as the day that members approved a plan that will radically alter the way the London market is conducted. Ignoring any bad luck associated with the...
Corporate Members Approve a Major Course Change for Lloyd’s
Sep 30 2002 // Friday the 13th of September will henceforth be known at Lloyd’s as the day that members approved a plan that will radically alter the way the London market is conducted. Ignoring any bad luck associated with the...
SalvageSale Announces Management Changes
Sep 19 2002 // SalvageSale Inc., the Houston-based online salvage marketplace and salvor services provider for the claims recovery and commercial salvage markets, announced that Thomas DiSarlo has joined its subsidiary, SalvageSale...
Sept. 11 Revisited: The Future of the Industry
Sep 2 2002 // When the nation awoke on the morning of Tuesday, Sept. 11, little did it know that the events over the next few hours would change its lives forever. Not only were there thousands of lives lost and injured, but many more...
A Year Later, Industry Takes Stock of Itself
Sep 2 2002 // When the nation awoke on the morning of Tuesday, Sept. 11, little did it know that the events over the next few hours would change its lives forever. Not only were there thousands of lives lost and injured, but many more...
XL Capital Assurance Establishes London-Based Financial Guarantee Subsidiary
Aug 27 2002 // XL Capital Assurance Inc. (XLCA), a unit of Bermuda’s XL Capital Ltd., announced the formation of a financial guarantee subsidiary in London, XL Capital Assurance (U.K.) Limited (XLCA-UK), specializing in credit...
MMC in Talks to Acquire London-Based Benfield Group
Aug 13 2002 // Marsh & McLennan Cos. is currently in talks to purchase Benfield Greig Group PLC, a reinsurer based in London, for about $1 billion, according to a Dow Jones report. By taking on privately held Benfield, New...
London’s Joint Hull Committee Drafts Clause Revisions
Jul 29 2002 // The Joint Hull Committee in London (JHC) announced it has produced a consultative draft of its revised Institute Hull Clauses. The draft has been sent to various associations of underwriters, ship owners, brokers and...
GE Frankona Re Establishes New London Aviation Unit
Jul 29 2002 // GE Frankona Re announced it has formed a new London-based Aviation Unit, in a move aimed at enhancing service to the aviation market. The new unit will focus on providing re/insurance (hull and liability) to smaller...
CNA Announces Deal on Sale of London Reinsurance Company
Jul 15 2002 // CNA Financial Corporation has signed a binding “share purchase agreement” to sell CNA’s London reinsurance operation, CNA Reinsurance Company Limited (UK), to Tawa UK Ltd., pending approval by the...
James H. Veghte to Head XL Re
Jul 10 2002 // As part of the ongoing restructuring of its reinsurance operations Bermuda’s XL Capital Ltd announced that James H. Veghte has been appointed President, COO and Chief Underwriting Officer of XL Re Ltd, one of its...
LLOYD’S OF LONDON NAMES NEW CHAIRMAN:
Jul 8 2002 // The next chairman of the Lloyd’s of London insurance market was named as Lord Levene of Portsoken. He is presently vice chairman of Deutsche Bank London. Lord Levene will be the first chairman of Lloyd’s in its...
For Lloyd’s, Continued Growth Expected in Surplus Linese
Jul 8 2002 // Lloyd’s of London is perhaps the most well known insurer in the U.S., not only due to its 300 years of existence, but also because this country is the London market’s biggest customer, accounting for over 35...
Swiss Re Sigma Study Examines London Market
Jul 5 2002 // A New Swiss Re Sigma report examines the state of the London Market, describing the effects of the sweeping changes that have occurred over the last decade, the ongoing consolidations, the market’s continuing...
S&P, A.M. Best Give “A” Ratings to Wellington Re
Jun 26 2002 // Standard & Poor’s assigned its single-‘A’ counterparty credit and insurer financial strength ratings to U.K.-based Wellington Reinsurance Ltd; while A.M. Best rated the London based reinsurer A...
Equitas Reports Small Surplus Decline, Increase in Solvency Margin
Jun 21 2002 // Equitas, the Lloyd’s vehicle set up in 1992 to run off asbestos and environmental claims from prior years, reported a slight drop in its overall surplus of £21 million ($ 31.4 million) to £679 million...
