London Market

Zurich names Bailey to succeed Naidu as UK CEO

Zurich UK has promoted Tim Bailey to CEO, succeeding Tulsi Naidu who was named CEO of the insurer’s Asia Pacific (APAC) business as part of a major overhaul of its global senior management earlier this week.

MGA White Oak looks to MS Amlin for CUO Perry

London-headquartered White Oak Underwriting Agency (White Oak) has announced the appointment of Lisa Perry as chief underwriting officer (CUO).

PRA warns on preparedness as Brexit trade agreement deadline looms

The Bank of England’s Prudential Regulation Authority (PRA) has urged firms to ensure they are “operationally prepared” to enter the Temporary Permissions Regime (TPR) which will come into force if the UK and EU fail to sign a trade agreement by 31 December 2020.

Gallagher’s Pen ups Lloyd’s cyber capacity to £55mn

Gallagher’s Pen Underwriting has increased its Lloyd’s cyber capacity to £55mn ($73.5mn) following the successful renewal of multiple binders with its consortium of Lloyd’s partners.

Lloyd’s targeted by climate protesters over fossil fuels insurance

Lloyd’s of London faced fresh calls to axe cover for fossil fuel projects with returning employees met with protesters when the market reopened its underwriting room on Tuesday for the first time in months following the Covid-19 pandemic.

Hive Aero confirms aviation all risks entry with Davy hire

MGA Hive Aero has confirmed its entrance into the aviation all risks market and the appointment of Benjamin Davy as aviation underwriter, moves first revealed by The Insurer earlier this week.

Euro P&C stocks gain with market unperturbed by Laura landfall

London-listed P&C stocks led a broad spread of gains amongst European (re)insurance equities in morning trading as investors shrugged off concerns of major losses from Hurricane Laura and digested a policy shift announcement by Federal Reserve chairman Jerome Powell.

Gallagher lands Aon’s Wakefield

Gallagher has hired Aon’s Tom Wakefield as managing director of its expanding reinsurance division, The Insurer can reveal.

Gallagher names Bree COO of UK retail

Gallagher has appointed Michelle Bree as chief operating officer (COO) of its UK retail division.

Trade-offs needed to create public-private pandemic solution: LIIBA’s Croft

The London and International Insurance Brokers’ Association (LIIBA) has added its voice in support of a future public-private pandemic insurance solution, noting that a future structure will be “a series of trade-offs” designed to maintain the involvement of private insurers without making the product so restrictive that it fails to be triggered.

Ed adds Paragon’s Head to grow professional & executive risk team

BGC Insurance-owned Ed has bolstered its professional and executive risk offering with the appointment of Paragon’s John Head as a broker and producer with immediate effect.

Catalina finally confirms FCA’s S166 review; commits to “implementing” changes

Apollo Global Management’s P&C legacy powerhouse Catalina Holdings has finally confirmed the reasons behind the UK regulatory investigation that was first revealed by this publication last year.

Lloyd’s sets dates for 2020 capacity auctions

Lloyd’s has announced the dates for this year’s capacity auctions, which will take place in October and November.

BMS bolsters Singapore unit with Lloyd’s Asia’s Fu

London-headquartered broker BMS has continued the build-out of its Singapore platform, looking to Lloyd’s Asia for its latest hire.

FCA investigates more than 150 Covid-19 related scams

The UK’s Financial Conduct Authority (FCA) is investigating more than 150 Coronavirus-related scams since the outbreak began, according to official figures.

MedPro hires CNA Hardy’s head of specialty Buege

Berkshire Hathaway’s healthcare liability insurance platform MedPro Group has hired CNA Hardy’s head of specialty Rhonda Buege as it looks to further grow its business outside of the US.

Eur500mn+ legacy start-up Marco acquires UK platform with Allianz’s BRIC deal

Simon Minshall-led Eur500mn ($590mn) legacy acquisition start-up Marco Capital Holdings is to acquire British Reserve Insurance Company Ltd (BRIC), a UK non-life insurance company, from Allianz.

MGA Avid names Cliff as chairman

London intermediary and managing general agent Avid has named former Brightside CEO Mark Cliff as chairman.

UK injury claims fall 35% during lockdown pointing to bumper year for motor insurer profits

The number of personal injury claims from motor accidents fell by 35 percent in the second quarter, according to government data, in the latest sign that the UK’s motor insurers could be set for a bumper year of underwriting profits as a result of the steep drop off in driving during the Covid-19 lockdown.

Oneglobal looks to GC for latest hire

Broking house Oneglobal has made its third hire this week, adding another former senior JLT employee to its ranks, naming Jeanette Paul as head of HR.

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