NewsLloyd’s reveals potential lifetime bans for sexual harassmentLloyd’s has announced what it describes as “a robust plan” to address reports of sexual harassment in the market.Tue 26 Mar 2019
NewsCyberAIG is lead insurer on Hydro cyber risk policyNorwegian aluminium company Norsk Hydro has revealed AIG is the lead insurer on its cyber risk policy, and has also estimated the financial impact from the first week since its cyber attack is $35-41mn.Tue 26 Mar 2019
NewsCatCo shareholders approve listed fund run-offMarkel CatCo’s London-listed retro investment fund CatCo Reinsurance Opportunities Fund is set to be placed into run-off following a shareholder meeting where investors almost unanimously approved the proposal.Tue 26 Mar 2019
NewsWatford Holdings confirms Nasdaq direct listing set for 28 MarchWatford Holdings, the Bermudian total return (re)insurer for which Arch Capital acts as reinsurance manager, plans to complete its direct listing on Nasdaq on 28 March.Tue 26 Mar 2019
NewsPeople MovesO’Donohoe leaves Hamilton; Barrett takes new specialty roleHamilton at Lloyd’s CEO Dermot O’Donohoe is leaving the carrier just weeks after its Bermudian parent announced it had agreed a deal to buy Pembroke and other operations from Liberty Mutual.Tue 26 Mar 2019
NewsPeople MovesCoverys names Crist as head of claimsLloyd’s managing agency Coverys has named Caitlin Crist to the newly created role of head of claims of Syndicate 1975.Tue 26 Mar 2019
NewsMarineLondon yacht rates now up as much as 70 percentA wave of retrenchment from the yacht insurance market – including the exits of Markel and Channel Syndicate – has driven rates at Lloyd’s for the business up as much as 70 percent, analysis by The Insurer reveals.Tue 26 Mar 2019
AnalysisRatesCommercial insurance rates to climb by up to 5% in ’19: BRGUS commercial insurance pricing is expected to increase by up to 5 percent in 2019, according to a survey of carriers by analysts at The Buckingham Research Group (BRG).Tue 26 Mar 2019
NewsM&AEMCI should be valued at >$50 a share: activist investorEMC Insurance Group (EMCI) is worth significantly more than $50 a share, according to the activist investor who is trying to get a better deal than the current $30 a share offer from the carrier’s mutual parent.Mon 25 Mar 2019
NewsScor board battles back against activist CIAMScor has fought back against an attempt by activist shareholder CIAM to have group CEO Denis Kessler removed from his chairman role at the Paris-based reinsurer.Mon 25 Mar 2019
NewsBermuda remains at forefront of innovation: BenchimolDespite the recent EU blacklisting setback, Bermuda’s executives are confident the island will maintain its position as an important (re)insurance centre.Mon 25 Mar 2019
NewsBermuda officials head to Europe with de-blacklisting timeline unclearA delegation from Bermuda is in Europe this week to meet EU officials and make the case for why the island should be removed from a tax haven blacklist.Mon 25 Mar 2019
NewsLossesCardiff City to claim Sala deal not legally binding: reportsCardiff City’s Lloyd’s insurers led by China Re could be in for a reprieve if the English Premier League (EPL) club successfully claims the deal to buy Emiliano Sala from Nantes for £15mn was not legally binding.Mon 25 Mar 2019
NewsCyberGallagher appoints cyber practice leader from HubJohn Farley has joined Gallagher as managing director and leader of the US broker’s cyber practice.Mon 25 Mar 2019
NewsPeople MovesAspen adds to London credit and political risk teamAspen Insurance has made three appointments to its credit and political risk (CPR) team in London, with new hires from AIG, ICBC and Lloyd’s.Mon 25 Mar 2019
NewsLegal/ RegulatoryDavid Ross: Gallagher cliff-vest loan was “morally bankrupt”Ardonagh Group CEO David Ross hit out at his former employer Gallagher in the Royal Court on Monday calling its offer of a £1mn “cliff-vest” loan to its own senior broker Peter Burton as “morally bankrupt”.Mon 25 Mar 2019