HAG criticises Hiscox over delayed BI payoutsLondon-listed Hiscox has been accused of failing to payout on Covid-19-related business interruption (BI) claims, despite growing pressure from the UK regulator.
New Bermuda and London capital could have “dampening” price impact: AM BestBermudian and London market (re)insurers have been able to raise equity with relative ease, which could have a dampening effect on pricing improvements, AM Best has commented.
Mosaic hires former Axa XL cyber specialist Tuplin to head international bookJames Tuplin has joined Mosaic as head of international cyber underwriting following his recent departure from Axa XL, The Insurer understands.
MS Amlin hires Skuld’s Draper as senior yacht underwriterMS Amlin has hired Fergus Draper as a senior yacht underwriter, with the new arrival making the move after more than eight years at Skuld, The Insurer has learned.
Lloyd’s latest culture survey shows improvements but booze and bullying still prevalentA Lloyd’s-commissioned survey suggests there has been a reduction in the number of cases of inappropriate behaviour following the introduction of tough new measures to improve the market’s culture by CEO John Neal.
Lebecq to leave LMG to join SRGClare Lebecq is to leave her role as CEO of the London Market Group to join HGGC-backed Specialist Risk Group.
Price Forbes adds four to aviation practiceArdonagh-owned Price Forbes has swooped on rivals Ed Broking, KM Dastur and Marsh to make four hires to its global aviation practice.
Aon: New London market capacity expected for financial linesNew London market capacity for financial lines is expected to launch in the coming months, broker Aon has predicted, on the back of significant premium rate increases through 2020.
WTW: Little appetite for major overhaul of EU capital rulesWillis Towers Watson has argued that there is “little appetite” for a drastic overhaul of capital requirements following the UK’s post-Brexit review of Solvency II, adding that changes should instead be focused on “poorly designed” principles such as the risk margin.
Aegis reports 40% growth in e-trading usage as lockdowns push market onlineLloyd’s managing agency Aegis London’s online quote-and-bind platform Opal experienced 40 percent growth during 2020 amid a boom in electronic trading within the London market due to coronavirus lockdowns.
Markets Review: Scor led gains in muted week for P&C stocksFrench reinsurer Scor led the gains in a muted week for European (re)insurance stocks as investors weighed gloomy reports on the UK economy against hopeful signs of progress towards further US stimulus measures.
Lockton Re adds Berry to London marine and energy divisionExpansive reinsurance intermediary Lockton Re has announced that Tom Berry will be joining its marine and energy division in London as a senior broker.
LSM names AGCS’ FitzGerald as divisional head of FinProLiberty Specialty Markets has appointed Terry FitzGerald as divisional head of financial and professional lines.
Chubb launches new London energy team under BrownChubb has launched a new London-based energy team within Chubb Global Markets (CGM) led by Andrew Brown as head of energy.
Markets Review: Europe’s P&C stocks rise in best week since NovemberEuropean P&C stocks jumped last week as positive commentary from central banks fuelled investor hopes of a faster global economic recovery and markets bet on a bigger US stimulus package under the Biden administration.
Beazley shares surge 16% on bullish 2021 outlookShares in Lloyd’s insurer Beazley leapt almost 15 percent on Friday after the firm posted a smaller than expected loss for 2020 and provided a positive outlook for the year ahead thanks to a substantial rise in insurance rates.
Howden adds Harrison-Sleap to construction teamBroker Howden has recruited Andrew Harrison-Sleap to its growing construction team, with the new hire joining after spending just over a year at McGill and Partners.
Industry veteran Brosnan named CEO at WR Berkley Syndicate ManagementWR Berkley has hired ex-CNA Hardy CEO David Brosnan to head up its own Lloyd’s managing agent, succeeding Alastair Blades who will remain CUO as the carrier separates the roles.
IUA names Zurich’s Kuchinski as chairThe International Underwriting Association (IUA) has named Zurich UK’s Robert Kuchinski as chairman.
Markets Review: Beazley falls 9.7% in volatile week for P&C stocksEuropean P&C stocks fell in another volatile week for equities as an intensifying battle between retail traders and brokers in the US combined with coronavirus concerns to drive up market instability.