London Market

QBE 2999 becomes £2bn+ Lloyd’s heavyweight with 10% stamp increase

QBE has received approval from Lloyd’s to grow the stamp capacity for Syndicate 2999 to £2.15bn ($2.69bn) for 2025, making it one of the Lime Street market's largest underwriting platforms, The Insurer can reveal.

TMK 510 to operate with £2.225bn stamp following 1880 merger

Tokio Marine Kiln has confirmed its flagship Syndicate 510 will operate with a stamp capacity of £2.225bn ($2.8bn) for 2025, reflecting the Lloyd’s platform’s recent merger with sister Syndicate 1880.

Lloyd’s Art Group opens 2024 winter exhibition

The Lloyd’s Art Group’s annual exhibition opens in the Old Library at 9.00 am this morning and will continue until Thursday, showcasing more than 250 pieces of art.

Markel strengthens marine cargo book with Aegis London's Pressman

Markel has bolstered its marine cargo offering with the appointment of David Pressman as senior underwriter.

IPT bill reaches £5.5bn in 2024/25 tax year so far

Receipts from insurance premium tax reached £956mn in October 2024, bringing the total for the 2024/25 financial year so far to £5.5bn, according to HMRC data.

Beale: Industry must engage on climate and digital agendas to remain sustainable

Dame Inga Beale has issued a rallying cry to the insurance sector to accelerate the pace of digitalisation and decarbonisation to attract both younger and external talent in order to ensure the future relevance and sustainability of the industry.

MGA Aqueous secures multi-year capacity deal with Sompo and Allied World

Professional indemnity MGA Aqueous Underwriting has secured a three-year capacity deal with Allied World and Sompo.

Acrisure names Quy London Wholesale MD

Acrisure has appointed Tom Quy as managing director of Acrisure's London wholesale division, with incumbent John Sutton to transition into a consulting role.

Optio continues senior hires with Sheppard named head of FL

Specialty MGA Optio Group has continued to build out its senior team with the appointment of Oliver Sheppard as head of financial lines.

Algorithmic underwriting to drive new talent demands and performance pressures: panel

The increasing adoption of underwriting models enhanced by data and digital technologies will require the London market to maintain its competitive edge amid changing demand for the future talent pool of specialty insurance, according to senior industry leaders.

Coalition adds Munich Re's Foster as London market lead underwriter

Cyber insurer Coalition has appointed Matt Foster to the newly created role of head of London markets.

Lloyd’s to form AI market strategy and review rules-based framework for tech models

Lloyd’s is developing an AI market strategy to examine the risks and opportunities associated with implementing AI and other technology models into underwriting processes, as well as reviewing its principles-based oversight framework.

Alchemy launches into marine market with The Hartford quartet

Alchemy Underwriting has entered the marine market with the hire of four underwriters formerly with The Hartford led by market veteran James Wilkie, The Insurer can reveal.

UK regulator launches consultation on accelerated ISPV regime

The UK’s Prudential Regulation Authority (PRA) has launched a consultation on reforms for the insurance special purpose vehicle (ISPV) regulatory regime, which includes an accelerated 10-day target for approvals of certain ILS arrangements.

Accredited adds former AIG, The Hanover CFO Bensinger to board

Onex-owned Accredited Insurance Program Management has continued to build out its group board with the appointment of Steven Bensinger as non-executive director.

SRG names AGCS’ Taylor group regulatory affairs leader

Specialist Risk Group has appointed Jaya Taylor as global leader for group regulatory affairs, risk and compliance.

Aspen grows Q3 operating income 10% to $86.5mn and reports 91.5% adj CR

Aspen Insurance Holdings reported Q3 operating income that grew 10 percent to $86.5mn and a 20 basis point (bps) improvement in its adjusted combined ratio to 91.5 percent, as it also estimated Hurricane Milton will generate $40mn to $60mn of claims, net of reinsurance and reinstatement premiums.