Lancashire Insurance
Market Moves - 12 February 2015
All the latest job moves in the insurance market.
Tysers appoints Lancashire's Blakeborough as COO
Lloyd’s broker, Tyser & Co has appointed Stuart Blakeborough as chief operating officer.
Lancashire sees 9M COR deteriorate but dividend still beats analyst expectations
Specialty insurer Lancashire saw its combined ratio deteriorate to to 74.5% for the first nine months of 2014, compared with 69.7% in the first three quarters of 2013.
Entry opportunities available as reinsurance market continues to soften
A softening reinsurance market is expected to continue to impact the reinsurance and Lloyd’s subsectors in 2015, according to a note published by Berenberg, which states that previous underperformance presents opportunities.
Lancashire Group goes live on Sequel Impact
Lancashire Group has bought and gone live on Sequel's risk exposure and aggregation product Impact.
Increased competition takes its toll as Lancashire profits plummet
Lancashire Holdings has seen its profit before tax nosedive by almost $40m (£23.5m) in the opening six months of the year on the 2013 half year figure of $137.2m.
Lancashire appoints Gregory as UK CEO
Lancashire Holdings group chief underwriting officer Paul Gregory has been appointed chief executive of Lancashire Insurance Company (UK).
Lloyd's presence adds 50% to Lancashire GWP in Q1 as new CEO steps up
Lancashire Holdings recorded a combined operating ratio of 66.4% in the first quarter of 2014 (Q1 2013: 51.2%) as no major losses were added to a late reported energy claim that adversely impacted the firm’s full year results.
Brindle’s departure to spark short-term uncertainty
Investment bank Espirito Santo says the “shock announcement” of Richard Brindle’s departure from Lancashire Holdings will initially be taken negatively by the market.
Brindle retires from Lancashire amid leadership shuffle
Lancashire Holdings founder and group chief executive Richard Brindle is retiring from the business at the end of the month.
Lancashire CEO praises ‘strong close’ to 2013 despite profit decline
Lancashire has recorded a 6.2% decrease in gross written premium for the year ended 31 December 2013 writing $679.7m (£408m) compared with $724.3m the year before.
Lancashire venture Kinesis commences underwriting
Lancashire Holdings subsidiary Kinesis Capital Management has underwritten its first tranche of reinsurance business for Kinesis Re with limits in excess of $250m (£151m).
Lancashire recruits Merrill Lynch banker for non-exec role
Bermuda-based insurer and reinsurer Lancashire has appointed Merrill Lynch’s former co-head of corporate broking as a non-exec director.
Lancashire CEO upbeat on COR despite heavy Q3 losses
Lancashire Holdings chief executive Richard Brindle has heralded his group’s sub-70% combined operating ratio for the first nine months of the year, despite a third quarter deterioration, as testament to the “resilience of our portfolio”.
Lancashire shareholders back Cathedral buy
A £266m acquisition of Cathedral Capital looks set to go ahead after shareholders of Lancashire Group voted overwhelmingly in favour of the deal.
Lancashire reveals Cathedral deal
Bermudian insurer and reinsurer Lancashire Holdings has confirmed it is in negotiations to acquire Lloyd’s insurer Cathedral Capital for £266m.
Lancashire delivers 58.8% H1 COR
Bermudian insurer and reinsurer Lancashire has reported a combined ratio of 58.8% for the first half of the year, and 66.9% for Q2.
Lancashire appoints new head of energy and marine
Lancashire Holdings has appointed James Flude as head of energy & marine for its UK operation.
Lancashire CEO Brindle admits Aon/Berkshire deal concerns as it unveils $77.9m Q1 profit
Lancashire Holdings this morning reported a jump in pre-tax profit and post tax profit for the first quarter of 2013 to $78.9m (Q1 2012: $46.5m) and $ 77.9m (Q1 $45.6m) respectively.
Regulatory uncertainty raises domicile questions
Splitting tax domiciles and regulators could be an enticing prospect for insurance groups looking to avoid the European Union’s Solvency II regulations.
Market Moves: Big names Sime and Giles among this week's notable departures
There were high-profile changes within both the insurer and broking arenas this week – with two significant moves involving senior figures at major organisations. At RSA, long-serving employee Chris Sime revealed his decision to walk away from his…
Lancashire names Redhead as capital management boss
Bermuda-based insurer and reinsurer Lancashire Holdings has named Darren Redhead as head of it’s capital management division.
Lancashire leads pack with "thumping" 2012 result
Lancashire’s 2012 results place it “firmly at the front of its peers in terms of underwriting delivery and return of capital”.