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Equity receives Lloyd’s motor wrist slap
IAG-owned Lloyd's motor insurer Equity Syndicate Management Ltd was censured by Lloyd's and ordered to pay costs of £95,000 over two charges of detrimental conduct, but avoided a hefty fine
11 January 2012
Heavyweight syndicates diverge on capacity
The top Lloyd's players are divergent in their approach to 2012, with some loading additional capacity for the hardening market and others keeping their size in check.
11 January 2012
Ward and Nelson set sail with three-year resolution
One of the priorities for Lloyd's over the next three years will be to simplify the process of placing and underwriting business in order to address the perceived difficulty and cost of using the market at No. 1 Lime Street, Lloyd's CEO Richard Ward has said.
11 January 2012
International digest
Reinsurers dodge Oz Christmas hail; FSB vice chairman steps down; Citizens CEO stands down; China up; Russian opportunities; Latin growth; US hardening; ACR affirmed; Olá XL; Twister receiverships; Twister receiverships
11 January 2012
London digest
Amlin backs $200mn nuclear MGA; Canopius move; Hoare Govett slips; Takaful takeaway; Kane new CEO; Beazley goes Deutsch; RBS ready; Ascot powers up; Prosight takes aim; Lloyd's re-runs
11 January 2012
Third Point Re starts with $700mn
Third Point has managed to attract a significant sum on top of the $500mn backing it had initially secured when The Insurance Insider revealed news of its launch last October, but is slightly shy of the $750mn-$1bn of launch capital targeted
11 January 2012
Cowardice in the face of the enemy?
It may be best to be "greedy when others are fearful", but try being greedy when you're scared, your bankers are scared and your shareholders are positively terrified...
11 January 2012
January renewals buoy cat underwriters ahead of 1.4
Considering a property cat reinsurance premium base of circa $20bn and insured cat losses of around $100bn this year, a gloomy interpretation could easily be put on the rate increases achieved at 1 January.
11 January 2012
Names group welcomes Equity 218 censure
A group representing Lloyd's Names that suffered losses from the poor performance of dedicated motor syndicate Equity 218 has welcomed the decision by Lloyd's to censure Equity over two charges of misconduct.
11 January 2012
Gallagher hires Canopius UK team
Gallagher UK has lured a team of UK homeowners and personal lines underwriters away from Lloyd's insurer Canopius, as it continues its strategy of rechanneling business into its expanding managing general agency arm, OIM.
10 January 2012
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