Euro Lloyd’s investigation ends
The European Commission is closing its investigation into UK’s regulation of Lloyd’s, it was revealed last week.
In January, the Commission revealed that it had launched an inquiry into whether the UK breached the Commission’s rules over the supervision of insurers. Lloyd’s was self-regulated until 2001 when the Financial services Authority took over. A probe was launched following complaints from aggrieved Lloyd’s Names who are disputing their liabilities, which culminated in the 1996 litigation settlement package, Reconstruction & Renewal.
"We intend to close the infringement procedure as soon as possible," explained the European Commission’s spokesman Jonathan Todd.
Slot set to join AIG
Accident and health underwriter Peter Slot is set to join AIG’s London operations to write a direct PA account from their Lloyd’s box.
Peter Slot was the co-founder of underwriting agency Feasey Slot Management Ltd which was acquired by HCC Insurance Holdings in 1999. His former colleague Tony Feasey remains at HCC where, in January, he was promoted to position of chief executive of HCC Risk Managements, responsible for the group’s catastrophe exposures and reinsurance programmes.