Dale takes senior underwriting duo from AspenLloyd’s third party and employers’ liability insurer Dale Underwriting has hired Richard Frost and Richard Loader as senior class underwriters.
Canopius takes Brit exec Meyer and hires COOBrit COO Nigel Meyer has left the company after seven years to join the newly-private again Canopius as its CFO.
Sompo the driving force behind Canopius $952mn MBOThe private equity-backed management buyout of Canopius that completed on Friday was pushed for by Japanese owner Sompo, the Lloyd’s carrier’s chairman Michael Watson has confirmed.
Lloyd’s insurer Ark in $57mn PartnerRe energy renewal rights dealPartnerRe has sold the renewal rights of its leading London market energy insurance book to Lloyd’s insurer Ark, re-Insurance.com can reveal.
Canopius names Duffy managing agency CEOLloyd’s carrier Canopius has named group chief underwriting officer (CUO) Mike Duffy as its new CEO as the company’s private-equity-backed management buyout nears completion.
Canopius, Channel Syndicate and Liberty form $27bn trade credit consortiumThe Channel Syndicate, Canopius, and Liberty Specialty Markets have set-up a consortium to provide capacity for Toredo, an online platform for single situation trade credit insurance.
ProSight posts ‘record’ profit in first Q4 since exiting Lloyd’sPrivate equity-backed carrier ProSight posted a $26mn profit for the final quarter of 2017, making it the most profitable year-end three-month period on record for the firm.
Hurricanes push Starstone to underwriting loss as Atrium breaks evenThe trio of Atlantic hurricanes that battered parts of the US and the Caribbean also took their toll on Starstone’s profits, while reserve releases kept fellow Enstar subsidiary Atrium in the black for 2017.
Aegis syndicate remains in the black as it looks to up 2018 capacityAegis’ Lloyd’s unit has posted a 99 percent combined ratio for 2017 despite “substantial headwinds” from the Mexico earthquakes and California wildfires.
UPDATE: Hiscox recovers to close down 2%Hiscox’s shares have pared earlier losses to close down 2 percent at 1367p after falling as much as 5 percent on the back of a challenging set of full year 2017 results this morning (26 February).
Cyber market ‘frustratingly immature’: BealeLloyd’s of London CEO Inga Beale has lambasted slow growth in the cyber insurance market and warned that the market risks not reaching its full potential.
Greenlight Re weighing Lloyd’s syndicate launchCayman-based hedge fund reinsurer Greenlight Re is considering setting up a syndicate at Lloyd’s as the company seeks to establish itself as a serious player in specialty classes.
MGAA adds Tempo’s Del Carlo to boardThe Managing General Agents’ Association (MGAA), the trade organisation for MGAs, has appointed Marco Del Carlo, managing director of Tempo Underwriting, as a new board director.
Lloyd’s not ‘particularly proud’ of 28% gender pay gapFemales working at Lloyd’s of London on average earn 27.7 percent less than their male counterparts, the Corporation has said as it released its gender pay gap figures today (21 February).
Hamilton Lloyd’s departures prompt underwriting reshuffleHamilton’s Syndicate 3334 has restructured its underwriting team following the departure of its deputy active underwriter and active underwriter.
More details emerge on Nexus mooted stake saleNexus’ recently-announced “shareholder liquidity event” is likely to take the form of a non-management individual share sale despite speculation that the MGA was weighing an IPO or full sale.
Lloyd’s legacy deals sealed by Enstar and R&QRandall and Quilter (R&Q) has completed a £30mn deal to take on the old Sportscover legacy book, now owned by Hamilton’s Lloyd’s platform in what is the second agreement of its type to be announced in less than a week.
Nexus appoints Panmure Gordon as it eyes stake saleLondon-based managing general agent Nexus has appointed investment bank Panmure Gordon as it ramps up efforts to sell a portion of the business, re-Insurance.com understands.
Fairfax takes $185mn wildfire hit as Allied World deal hits profitsThe wildfires that ravaged the state of California in the fourth quarter are expected to cost Fairfax - through its numerous subsidiaries - a total of $185.4mn.
TMK's flagship syndicate facing 2017 loss of up to £168mnTokio Marine Kiln has said that its flagship Lloyd’s syndicate 510 is expecting the return on its £1.13bn capacity to run to a loss of between 4.8 percent and 14.9 percent.