London Market

JC Flowers appoints headhunting firm for SSL Endeavour chair role

SSL Endeavour’s new owners – the private equity firm JC Flowers – has appointed headhunters Eliot Partnership to find a respected market figure to lead the newly-combined London market broker after a raft of departures and integration challenges.

BGC Partners pulls out of RFIB sale process

BGC Partners has pulled out of the sale process for RFIB Insurance Brokers, The Insurer can reveal. In late March, this publication revealed that BGC Partners and AmWINS were frontrunners in the Calera Capital-run process.

EC3 Brokers taps Integro for new head of broking

Specialist Lloyd’s broker EC3 Brokers has swooped on Integro for James Murphy who will take on the newly-created role of head of broking.

Lloyd’s unveils prospectus to lower costs, enhance capital and simplify market access

The CEO of Lloyd’s John Neal has today rolled out his six-point turnaround strategy for the market, The Future at Lloyd’s.

Arch UK expands into cyber

The UK arm of Bermudian carrier Arch Insurance is set to launch its first cyber product aimed at businesses in the small to medium enterprise bracket.

Convex Group launches with London and Bermuda regulatory approval

Stephen Catlin has formally unveiled his new international specialty (re)insurer with $1.8bn of initial committed capital, an AM Best A- (excellent) rating and regulated platforms in Bermuda and London approved to begin underwriting from 1 May.

$1.8bn Convex to launch with crucial A- AM Best rating

The underwriting subsidiaries of Stephen Catlin’s start-up (re)insurer Convex Group have been given A- financial strength and a- credit ratings by AM Best.

QIC first quarter profit up 15% as underwriting result improves

Qatar Insurance Group (QIC) - the parent of Bermuda-based Qatar Re and Lloyd’s managing agent Antares – saw net profit increase by 15 percent to $75mn in the first quarter of 2019 driven by both improving underwriting results and resilient investment income.

ProAssurance Lloyd’s topline rockets 90%

ProAssurance saw its gross written premium at Lloyd’s swell by 90 percent in the first quarter to $23.6mn on the back of new business written, primarily in the property space as well as an uptick in renewal business.

Old Mutual’s Pearce joins MS Amlin as CFO

MS Amlin - a subsidiary of Japanese giant MS&AD - has hired Old Mutual’s former finance director Iain Pearce as its new CFO, as part of the continuing restructuring of the senior team under the direction of CEO Simon Beale.

Axa XL promotes Catlin’s Wilson to global head of portfolio solutions

Axa XL has promoted Charlotte Wilson to global head of portfolio solutions, with responsibility for developing the carrier’s global strategy for portfolio solutions.

Allied World’s marine vice president Reuben exits

Pene Reuben, vice president and marine liability underwriter, has left (re)insurer Allied World, The Insurer can reveal.

Bowmark’s Aston Lark edges closer to $400mn+ US PE sale

Boston-based private equity house Abry Partners has been linked as one of the final private equity bidders for UK commercial broker Aston Lark Group, The Insurer understands.

PRA demands business plans of underperforming insurers

The Prudential Regulation Authority has required all insurers with poor recent underwriting results to provide it with a copy of their 2019 business plan and a justification of why their plans are appropriate.

Biba hires TMK’s Blundell as head of general insurance

The British Insurance Brokers’ Association (Biba) has hired Alistair Blundell, former head of distribution at Tokio Marine Kiln, to take on the role of head of general insurance.

Everest Insurance Ireland launches UK branch

Everest Insurance Ireland dac (EIID) – the European subsidiary of Bermudian Everest’s International platform – has launched a branch office in the United Kingdom.

Industry veteran Jerry McArthur dies

Industry veteran Jerry McArthur passed away on 4 April following a short battle with cancer.

Lloyd’s to call time on ‘under-the-influence’ from entering building: reports

Lloyd’s is to ban people under the influence of alcohol or illegal drugs from entering One Lime Street, according to reports.

LMG calls on government to 'liberalise' market access post-Brexit

The London Market Group (LMG) has called on the UK government to “liberalise” access to key markets including the US, Switzerland, MENA and Latin America post-Brexit and to use its global network of embassies to promote the London insurance market around the world.

Broker PPL adoption breaks 100 threshold

The number of brokers registered on the Lloyd’s e-placement platform – PPL – has exceeded 100 for the first time, according to figures from the London and International Insurance Brokers Association (LIIBA).

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