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Australian terror pool highlights grossing up errors
The Australian Reinsurance Pool Corporation (ARPC) has criticised Lloyd's syndicates for inconsistent reporting of gross written premiums (GWP) after a review of its cedants found a number of them were using an incorrect calculation
Charlie Thomas
,
20 December 2017
Lloyd’s brings cyber supervision in line with PRA
Lloyd's is aligning its supervisory approach to underwriting cyber risk with that of UK watchdog the Prudential Regulation Authority (PRA) in order to remove duplication
Catrin Shi
,
20 December 2017
Coverys Syndicate gets go-ahead from Lloyd’s
Coverys Syndicate 1975 has received Lloyd's approval to begin writing business from 1 January 2018
John Hewitt Jones
,
20 December 2017
R&Q and Axa secure £30mn Hamilton RITC
Randall & Quilter Syndicate 3330 has agreed to reinsure to close (RITC) a £30mn ($40mn) legacy portfolio of Hamilton Syndicate 3334
Catrin Shi
,
20 December 2017
EC gives member states longer for IDD rollout
The European Commission has delayed the implementation of the Insurance Distribution Directive (IDD) by almost eight months following an intervention by European parliamentarians
Laura Board
,
20 December 2017
Ardonagh completes Carole Nash purchase
Acquisitive insurance group Ardonagh has completed its purchase of UK motorcycle specialist Carole Nash for just over £60mn ($78mn).
John Hewitt Jones
,
20 December 2017
Four staff at risk as Syndicate 1945 closes marine book
Sirius has decided to close the marine book of its Syndicate 1945, putting underwriters Robert Birchard and Kevin White and a pair of support staff at risk, The Insurance Insider understands
Charlie Thomas
,
20 December 2017
Opinion: Equivalence-lite
The Prudential Regulation Authority (PRA) has put its head above the parapet and devised a pragmatic solution to Brexit that London market carriers will hope can be emulated by its continental peers.
Laura Board
,
20 December 2017
Enstar confirms Neon legacy deal
Enstar has agreed to assume £417.1mn ($558mn) of net reinsurance reserves from Neon Underwriting Limited in a deal first revealed by The Insurance Insider earlier this week.
David Bull
,
20 December 2017
CNA lands property exec Nardiello from Sompo
CNA has secured the services of property specialist Michael Nardiello from Sompo International.
David Bull
,
20 December 2017
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