Lloyd’s confirms 60 percent target for e-placement mandateAll Lloyd’s syndicates will be required to have written no less than 60 percent of risks using a recognised e-placement platform over the third quarter of 2019, the Corporation confirmed today.
Firm orders bound on PPL platform soar to 250,000Approximately 250,000 firm orders have been bound on the Lloyd’s electronic placing platform, PPL, since its launch in 2016.
Brit names BCG’s Cuomo to head of strategy roleLondon (re)insurer Brit has named Paolo Cuomo to the newly created role of head of strategy.
Aon unveils shared global broking and specialty leader rolesAon has expanded the responsibilities for several leaders in its Commercial Risk Solutions division, including appointing a global chief broking officer (CBO) and co-leaders of the Global Specialties segment.
Lloyd’s reveals advisory committees to execute turnaroundLloyd’s has revealed the make-up of its global and London advisory committees as the corporation prepares to execute CEO John Neal’s sweeping turnaround strategy for the market.
Jefferies raises Beazley 2019 growth forecast by 10% on back of GWP uptickEquity analysts Jefferies has raised its 2019 growth forecast for blue chip insurer Beazley from 5 to 10 percent, prompted by an uptick of 16 percent in gross written premiums in the first quarter.
Lloyd’s expense ratio won’t improve in 2019: HancockLloyd’s has launched a new review of administrative expenses after the Corporation’s performance management director Jon Hancock confirmed the market’s stubbornly-high circa 40 percent expense ratio is unlikely to improve in 2019.
Aon arranges London panel to insure banks against cryptocurrency crimeAon has arranged a panel of London insurers to underwrite a cybercrime insurance product for financial institutions that use Swiss fintech Metaco’s cryptocurrency technology.
Two TMK executives resign over groping and stalking claimsTwo Tokio Marine Kiln executives have resigned following allegations of sexual harassment, according to reports.
UK government launches review of IPTThe UK’s HM Revenue & Customs (HMRC) has called on the domestic insurance industry to submit evidence determining whether Insurance Premium Tax (IPT) operates “in a fair and efficient way.”
Brcerevic appointed head of Aon's Carrier Solutions GroupAon has named Sasa Brcerevic as head of its MGA-focused Carrier Solutions Group, The Insurer can reveal.
Hive Aero broadens aviation war book into excess liability coverageLondon-based MGA Hive Aero has introduced excess third-party aviation war liabilities (AVN52) to its portfolio which, until now, was limited to aviation hull and war.
Starr hires Marsh exec as UK and Europe FI headAndrew Hopper has been appointed head of financial institutions for the UK and Europe at Starr Insurance Companies.
Hiscox unveils London market cyber productHiscox has launched a new London Market cyber product called CyberClear365 that is built around three principles of cover, claims and additional cyber services.
Beazley’s Lake replaces Bride as finance directorSally Lake has transitioned into her new of group finance director at blue chip insurer Beazley, replacing Martin Bride.
Beazley introduces cyber cover to marine portfolioLondon carrier Beazley has launched a cyber product to cover loss of hire and physical damage to a vessel in the event of a cyber incident impacting its operational capabilities.
BIBA and Pool Re launch broker guide to terrorism insuranceBritain’s state-backed terrorism reinsurer Pool Re and the British Insurance Brokers’ Association (BIBA) have collaborated with numerous government departments to launch a guide on terrorism insurance, to support brokers’ understanding of the risk class.
Turnbull takes over from Pearce at BishopsgateJonathan Turnbull has taken over as CEO of Ardonagh’s London-based Bishopsgate Insurance Brokers subsidiary, according to the company’s website.
Aspen Bermuda CEO, Group COO and head of international exitAspen has parted company with several senior executives as recently installed group CEO and executive chairman Mark Cloutier oversees a restructure of the Bermudian under its new Apollo ownership.
RSA UK premium income down 5%; underwriting actions take effectLondon-Listed RSA saw first-quarter premium income fall 5 percent in its UK and international business, which the insurer said was in line with plans and reflects the impact of remedial underwriting actions taken last year.