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Lloyd’s syndicate sues Saudis in fresh 9/11 lawsuit
Lloyd's run-off Syndicate 3500 has filed a lawsuit against the government of Saudi Arabia, along with Saudi banks and charities to recover $215mn in claims paid out in relation to the 9/11 attacks.
15 September 2011
Allstate puts Irene losses at $500mn
US giant Allstate has said it will take a $500mn loss from Hurricane Irene, its maximum possible loss from the event.
15 September 2011
Zenkyoren delays $10bn quake loss revision
Zenkyoren - the reinsurance industry's largest international cat treaty programme - has delayed the official update to its revised 11 March quake loss estimate until later this year, The Insurance Insider understands
15 September 2011
Marsh appoints Pieroni as COO
Global insurance broker Marsh has announced the appointment of Bill Pieroni as chief operating officer, effective 19 September.
15 September 2011
Jardine Matheson commits further to JLT with 10% stake offer
Jardine Lloyd Thompson (JLT)'s independent directors have recommended that shareholders accept a £166mn cash offer from leading shareholder Jardine Matheson to purchase a further 10 percent stake in the broker.
15 September 2011
Validus seeks to replace Transatlantic board
In an echo of its ultimately successful pursuit of IPC Holdings two years ago, Validus is seeking to remove and replace the current members of Transatlantic's board of directors.
14 September 2011
ProSight makes Lloyd’s move with TSM deal
Acquisitive private equity-backed US insurer ProSight Specialty has agreed to buy Lloyd's coverholder TSM Agencies Ltd
14 September 2011
Lloyd’s issues first direct policy in China
Lloyd's of London issued its first direct insurance policy in China today (14 September) through its fully owned subsidiary, Lloyd's Insurance Company (China) Limited (Lloyd's China)
14 September 2011
Catlin clashes with Aon Benfield over rate predictions
Stephen Catlin, founding CEO of (re)insurer Catlin Group, has warned brokers such as Aon Benfield that their push for lower reinsurance rates adds to market volatility
14 September 2011
Waiting for rain
Some things never change. Down in Monte Carlo lots of people are doing a lot of the same things they and their predecessors have done every year for the last 54 years.
14 September 2011
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