October 2014/4

Charles Taylor and the Standard Club have secured in-principle approval from Lloyd's to create a managing agency and syndicate respectively

The global economy is experiencing a period of unprecedented uncertainty, Munich Re's group chief risk officer Bernhard Kaufmann told members of the London Market Claims Council last week (21 October).

A senior UK Treasury minister has encouraged the London market to go after more business written by its overseas rivals.

Divine appointment; Frankfurt expansion; AGCS launches division; Markel hire; Amlin builds; Lloyd's demand; Admin Re offloads; Hannover's $10mn issuance; ILS funds gain 0.86%; SNS Reaal loses A- rating; AJG UK reshuffle; Allied World repositions

US insurer OneBeacon and Armour Re have been unable to secure the approvals needed to close their $2.2bn legacy deal, despite first announcing it two years ago.

Marine insurers are facing losses of roughly $100mn from two recent events, The Insurance Insider has learned.

This reinsurance market cycle has had us baffled for years. Every time we see a wolf it turns out to be a pussycat throwing a big shadow.

London-listed insurer Aviva has launched an informal sales process to dispose of a £1bn+ book of industrial and potentially volatile UK employers' liability business, The Insurance Insider understands.