Lloyd's

GCube’s Richardson heads to Travelers as renewable energy boss

Charlie Richardson, senior energy underwriter at Lloyd’s coverholder GCube, is leaving the firm for Travelers.

Hiscox top line surges in first quarter as rates harden at 1.1

London (re)insurer Hiscox has reported a 20.3 percent rise in gross written premiums (GWP) in the first quarter driven by improved pricing at the beginning of the year.

The Hanover would use Chaucer sale to fund US growth

John Roche, CEO of The Hanover has said that the firm would use the proceeds from the sale of its Lloyd’s business and international arm Chaucer to finance domestic expansion.

The Hanover smashes profit estimates as Chaucer sale still on the cards

The Hanover comfortably beat earnings expectations to post a profit of $84mn in the first quarter as the carrier hailed the performance of its up-for-sale Lloyd’s business Chaucer.

UPDATE: Lancashire shares jump 5% on Q1 results

Lancashire’s shares have risen as much as 8 percent this morning before giving up some ground to trade nearly 5 percent higher at around 627p per share after the firm posted a sterling set of first quarter results before markets opened.

Lloyd’s finance boss Parry to depart

Lloyd’s CFO John Parry is to step down from the Corporation in surprise move that will see him leave early next year.

More Lloyd’s legacy entrants expected as RITC market kicks into overdrive

A surge in the number of run-off opportunities globally has driven an influx of capital into the legacy market - and now those investors have set their sights on Lloyd’s.

Lloyd’s lays ground for innovation lab amid push to digitise market

Lloyd’s has appointed consultants L Marks and BCG to back the foundation of an innovation lab at 1 Lime Street in the second half of this year as the Corporation looks to up the ante in its drive to modernise the market’s technology base.

Alesco hires construction executive Hiller from Willis

Alesco - the expansive London market broker that celebrates its ten year anniversary later this year - has plucked Martin Hiller from larger rival Willis Towers Watson to bolster the senior management of its construction team.

Barbican drafts in Aon Benfield to manage RITC auction

Lloyd’s insurer Barbican has instructed Aon Benfield to evaluate third-party reinsurance to close (RITC) quotes for its back-year liabilities, re-Insurance.com can reveal.

Accident and health goes live on PPL

Accident and health is the the latest line of business to go live on the electronic placing platform PPL.

Pool Re and Guy Carp lead Bishopsgate bombing anniversary line slip

Next week marks 25 years since the Bishopsgate bombing, with carriers and brokers from the London market commemorating the event by once again coming together to support a local cause.

Angerstein: Lloyd’s headcount leaps despite costly virtue signalling

The Corporation of Lloyd’s senior management have been signalling their commitment to cost-reductions for some time - so one can imagine there was a collective groan when it published its market-wide results last month.

Lloyd’s sale rush raises existential questions

The recent influx of Lloyd’s platforms onto the M&A market has raised a plethora of issues for what the sales rush means for the future of the market - as well as what the sudden spike in supply could do to already frothy takeout multiples.

Navigators mulling sale of Lloyd’s platform

US specialty carrier Navigators is weighing up a sale of its Lloyd’s business after a disappointing performance in 2017 pushed its Syndicate 1221 to a £15mn ($21.1mn) underwriting loss for the year, re-Insurance.com understands.

ILS investors warn against reserve risk cover for Lloyd’s Central Fund

As Lloyd’s digests the responses to its recent “non-deal” ILS roadshow, it appears increasingly unlikely that it will contemplate adding reserve risk to a potentially innovative securitisation of the Central Fund next year, re-Insurance.com understands.

S&P downgrades Chaucer as Hanover eyes sale

Ratings agency S&P has lowered Chaucer’s financial strength rating (FSR) by one notch from A to A- as the Lloyd’s carrier’s US owner The Hanover Group (THG) weighs up selling off the business.

Allied World leads table of worst performing 2017 Lloyd’s insurers

Allied World’s Lloyd’s syndicate 2232 was the worst performing syndicate in 2017 with an eye-watering combined ratio of 196 percent fuelled by heavy cat losses and prior year under-reserving, analysis by re-Insurance.com shows.

Your Guide to Lloyd’s Syndicate Results 2017

Another year and another set of Lloyd’s syndicate results come into the world but after one of the worst years in the market’s 330-year history, four fifths of syndicates posted a loss with 17 of those reporting a combined ratio in excess of 150 percent.

Hannover Re forms Lloyd’s SPA 6134

German reinsurer Hannover Re has created the fifth new Lloyd’s Special Purpose Arrangement (SPA) Syndicate 6134, managed by the Lloyd’s managing agency Argenta which it acquired last year.

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