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Liiba defends plans to pay £1mn towards Tom

The London & International Insurance Brokers' Association (Liiba) has said the £1mn it is planning to contribute towards funding a £250mn London market modernisation initiative is "entirely appropriate".

Winifred Okocha, 19 October 2015
LMG drops slip levy and encourages junior involvement

The London Market Group (LMG) has invited young professionals to be more involved in the Target Operating Model (Tom) modernisation programme and confirmed that it has dropped the idea of a slip levy to fund the process.

Winifred Okocha, 19 October 2015
IAG left with redundant Berkshire Hathaway capital

Australasian insurer IAG has retreated from a major strategic investment in China in the face of investor opposition, undermining the main rationale for its 10-year alliance with reinsurance powerhouse Berkshire Hathaway.

Adam McNestrie, 19 October 2015
Liberty to pull out of UK commercial motor

Liberty has decided to place its UK commercial motor book into run-off, The Insurance Insider has learned.

Winifred Okocha, 19 October 2015
Blame Cuthbert Heath

Imagine you run a shoe shop. You have been trading for many years and have many very loyal customers who come back year after year to buy from you. You have a great relationship with them.

Mark Geoghegan, 19 October 2015
Ontario Teachers’ explores ANV sale

Mammoth Canadian fund Ontario Teachers' Pension Plan is actively contemplating the sale of its insurance business ANV, The Insurance Insider can reveal

Adam McNestrie, 19 October 2015
XL to take $100mn Tianjin loss

XL Group will absorb a $100mn loss from the Tianjin port explosion, with 70 percent of the claim arising from its reinsurance division and the remainder recorded by its insurance business.

Fiona Robertson, 19 October 2015
Acappella enters terrorism with Talbot hire

Acappella has brought in Talbot underwriter Jonathan Powell to launch a new war, terrorism and political violence division

Winifred Okocha, 19 October 2015
Besso profits fall despite 11% revenue growth

Mid-sized independent broker Besso has reported strong top-line results for the year ended 31 December 2014, with an 11 percent increase in turnover to £32.3mn ($49.9mn)

Winifred Okocha, 19 October 2015
China Re IPO prices at top of range

State-owned China Re has raised $2bn from investors as part of its Hong Kong IPO, securing a valuation at the top end of its indicative range, according to reports.

Adam McNestrie, 19 October 2015

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