Lloyd’s of London
Political risks: Halting new threats
Businesses with domestic and international footprints are increasingly demanding protection from political risks. But, as the threats have changed in recent years, so has the cover that serves to protect against them
Globe Underwriting enters marine market
UK-based managing general agent, Globe Underwriting, has entered the marine market with the launch of a new marine division.
Liberty Specialty denies reports it has picked Luxembourg for post-Brexit base
Liberty Specialty Markets denied it had already made a decision over the base of its European Union subsidiary, despite reports it has picked Luxembourg for the base.
Lloyd’s redundancies: London market forced to focus on cost
A memo from Lloyd’s of London issued to staff inviting them to register for voluntary redundancy comes as little surprise, experts said, as market carriers are increasingly forced to focus on cost.
Lloyd's insurers join forces to form political risk consortium in Asia
Beazley, Chaucer and Talbot have joined forces to form a political risk consortium in Asia offering increased capacity for a wide range of political and contract frustration risks.
Lloyd’s invites staff redundancies amid challenging market
The Corporation of Lloyd’s has issued a letter to staff inviting them to register for voluntary redundancy.
No plans to reopen legal challenge against shuttered North Korean insurer
A long-running legal dispute between North Korea’s state-run insurance firm and a group of reinsurers will not be reopened, even as the insurer’s assets were frozen by the UK government.
London failing to stem reinsurance decline, says LMG
The London market is losing ground as a global centre for reinsurance and faces significant challenges in emerging markets and diversity, according to the London Market Group
Week in Post: Bonsai trees, jelly beans and the thousand-yard stare
The majority of the Post team started the week as ‘virgins’ of the British Insurance Brokers’ Association annual conference. This morning, I see most of them have the same look in their bloodshot eyes. War veterans call it the thousand-yard stare.
LMA calls for discount rate change
The Lloyd’s Market Association has called for major changes to the way the personal injury discount rate is set.
Nigel Farage slams Lloyd's chairman over Brexit warnings
Nigel Farage has criticised Lloyd's of London chairman John Nelson over pre-referendum warnings on the negative impact of Britain withdrawing from the European Union.
This month in Post: Awards, acquisitions and a new Act
It's been a challenging month here in Taunton. A new bridge has gone up on the main road, amid the gazes of many excited onlookers, and - equally exciting - a new fence is being erected on one side of my garden.
Lancashire Holdings sees GWP fall in the first quarter
Lancashire Holdings saw a 22% drop in net operating profit in the first quarter of 2017, down to $25.2m (£19.56m) from $32.4m for the same period in the previous year.
Editor's comment: Surprise!
I probably wouldn’t make a very good insurer or broker as I love a good surprise and I deal quite well with change.
Liberty rebrands specialty division following Ironshore purchase
Liberty Mutual Insurance has completed the purchase of Bermuda-headquartered $2.2bn (£1.7bn) gross written premium specialty insurer Ironshore.
Brexit: The location game
With Brexit negotiations now launched, insurers are taking steps to secure their access to the European market. How many will follow Lloyd's to Belgium?
Impact of Dive in Festival sees more Lloyd's firms implementing formal D&I policies
The number of Lloyd’s firms with diversity and inclusion councils or committees has gone up by 17.5% since 2016.
Media, technology and cyber MGA Nirvana launches
Former Axis Capital London media and technology manager Rob Jones has launched a managing general agent targeting media, technology and cyber liability risks.
Circle Asia hires three in Hong Kong
Luxembourg-headquartered specialist MGA Circles Group has expanded its Hong Kong team and moved office.
AM Best downgrades MS Amlin’s Lloyd’s Syndicate 2001
AM Best has downgraded the financial strength rating of MS Amlin's Lloyd's syndicate 2001 to A from A+.
'Business as usual' at Probitas despite owner Istmo's liquidation
Lloyd’s syndicate Probitas 1492 has stated it will continue to trade as usual following the appointment of liquidators at majority owner Istmo Re.
Obituary: Neil Mills, ‘the Pope’ of Lloyd’s
Neil Mills, a well known insurance broker known as the “the Pope” at Lloyd’s of London, passed away on 3 March aged 93.
This Month in Post: Rates, start-ups and fraud
Spring is in the air and it's a time well-known for cleaning out the old and starting anew. As I continue to unpack boxes and work out where to put all of the fairly useless things I have collected over the decades, the industry has been taking its own…
Lloyd’s confirms Council and Franchise Board appointments
Lloyd’s has appointed Gregory Fleming and Patricia Jackson to the Council of Lloyd’s and the Franchise Board respectively.