London Market

Pen names Gardiner technical underwriting director in leadership shake-up

Gallagher’s Pen Underwriting has promoted Stewart Gardiner to the newly created position of technical underwriting director, as part of a wider leadership overhaul at the UK MGA.

Chaucer selects Phinsys finance platform

Chaucer has teamed up with finance automation software provider Phinsys in a move that will see the China Re-owned insurer implement Phinsys’ products to its finance function.

AIG adds claims executives Miller and Chalmers

AIG is adding David Miller as chief claims officer for international and specialty, and Julie Chalmers as head of UK and EMEA claims for its General Insurance (GI) business, The Insurer can reveal.

AIG’s Baldwin named president of Insurance Institute of London

The Insurance Institute of London (IIL) has appointed AIG UK CEO Anthony Baldwin as its new president, Pool Re CEO Julian Enoizi as deputy president, and Marsh UK & Ireland CEO Christopher Lay as deputy president designate.

HM Treasury criticises UK insurers over “disappointing” Covid-19 claims stance

In unusually forthright language, the UK Government has criticised what it describes as a “disappointing” approach from a number of UK insurers in deducting the impact of government grants from Covid-19 claims payments.

BMS adds WTW’s Morgan to boost North American offering

BMS has appointed Suzi Morgan, formerly Willis Towers Watson’s London North American property head, as director.

Hiscox upgraded on “remarkable” retail growth despite Covid-19 criticism

The growth achieved at the retail arm of Hiscox against a backdrop of negative press and economic headwinds has been labelled “remarkable” by Jefferies’ Philip Kett, prompting the analyst to reiterate its ‘buy’ recommendation and lift its price target for the London-listed carrier.

MGA start-up Adeptive appoints Kinmont to lead fundraise

Start-up Adeptive Holdings LLP has appointed UK advisory boutique Kinmont to advise on a fundraise that will provide the start-up managing general agent with underwriting capital, The Insurer can reveal.

Firms that do not embrace D&I will be left behind: GC’s Carter

Market leaders who do not actively embrace a meaningful diversity and inclusion agenda will be left behind and their businesses will suffer, warned Vicky Carter, chairman of global capital solutions, international at Guy Carpenter.

Allianz and Athora consortium in talks for Aviva’s French arm: reports

A consortium of German insurer Allianz and life insurer Athora Holding is in talks to buy Aviva’s French insurance operations in a deal worth Eur2bn to Eur3bn ($2.3bn-$3.5bn), according to reports.

Virtual world can help unconscious bias become less prevalent: PwC

Inclusion may become easier to achieve in a virtual world with unconscious bias potentially becoming less prevalent, according to panelists at a leaders’ forum at this year’s Dive In Festival.

Nightclub owners demand 50% payouts on BI policies

The body representing nightclub owners across the UK has called on London-listed Hiscox to payout half of each disputed business interruption claim as an interim payment following the High Court ruling in the Financial Conduct Authority’s test case last week.

Watchdog urged to force insurers to pay Covid BI claims

Lawyers representing a group of policyholders have written to the Financial Conduct Authority (FCA) to report that some insurers are still refusing to pay out on business interruption claims following the UK High Court’s ruling last week.

FCA outlines regulatory concerns for international firms post-Brexit

The UK’s Financial Conduct Authority (FCA) has launched a consultation on its approach to the authorisation and supervision of international firms operating in the UK post-Brexit.

Aviva’s Tiernan named IUA chair as Newman steps down

The International Underwriting Association (IUA) has named Aviva’s Patrick Tiernan as chairman, succeeding Scor’s Malcolm Newman who is stepping down from the role.

Brokers chose Belgium to prepare for Brexit

In getting ready for Brexit, Belgium has emerged as the preferred location for an EU entity so that London brokers are able to continue to support their European clients.

Beazley expands life sciences offering

Specialist insurer Beazley has enhanced its life sciences insurance offering in the UK with the launch of a new policy designed to protect small and start-up research and development-focused organisations in the sector.

Fitch takes Lloyd’s off negative watch following capital collection

Rating agency Fitch has removed Lloyd’s from rating negative watch (RNW), reflecting the completed capital collection from members in June.

LMG names Axa XL’s McGovern to lead gov-focused workstream

The London Market Group (LMG) has named Axa XL’s UK and Lloyd’s market CEO Sean McGovern as the new sponsor for its business environment workstream.

European P&C stocks sink for second day on Covid lockdown fears

European (re)insurance stocks lost further ground on Tuesday as investors reacted to news that both the UK and Spain are set to impose stricter lockdown measures due to rising coronavirus infections.

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