Lloyds, city at night

Barbican drafts in Aon Benfield to manage RITC auction

2018-04-20T14:56:00+01:00

Lloyd’s insurer Barbican has instructed Aon Benfield to evaluate third-party reinsurance to close (RITC) quotes for its back-year liabilities, re-Insurance.com can reveal.

london city abstract

Ardonagh’s results hit by £51mn Towergate compensation bill

2018-04-20T08:50:00+01:00

Ardonagh Group’s dismal £260.9mn 2017 FY loss was exacerbated by a more than £50mn charge thought to be related to claims against one of its companies Towergate, which was forced to payout millions in compensation over a pensions advice scandal.

Ross

Towergate and Price Forbes owner Ardonagh Group posts £261mn loss

2018-04-19T10:58:00+01:00

Ardonagh Group, which owns London market wholesaler Price Forbes and UK retail broker Towergate, saw 2017 losses increase more than five-fold to £260.9mn ($370.3mn) driven in part by a surge in “regulatory costs”.

Marsh paul denny

Marsh moves US financial and professional lines leader to UK

2018-04-18T10:55:00+01:00

Marsh has named Paul Denny financial and professional practice leader for the UK.

Lloyd's, City of London

Accident and health goes live on PPL

2018-04-18T08:57:00+01:00

Accident and health is the the latest line of business to go live on the electronic placing platform PPL.

The ruins of St Ethelburga's in the aftermath of the bombing

Pool Re and Guy Carp lead Bishopsgate bombing anniversary line slip

2018-04-17T13:49:00+01:00

Next week marks 25 years since the Bishopsgate bombing, with carriers and brokers from the London market commemorating the event by once again coming together to support a local cause.

Lloyd's analysis

Lloyd’s sale rush raises existential questions

2018-04-10T06:15:00+01:00By

The recent influx of Lloyd’s platforms onto the M&A market has raised a plethora of issues for what the sales rush means for the future of the market - as well as what the sudden spike in supply could do to already frothy takeout multiples.

lloyds exterior lime st

Navigators mulling sale of Lloyd’s platform

2018-04-05T15:40:00+01:00By

US specialty carrier Navigators is weighing up a sale of its Lloyd’s business after a disappointing performance in 2017 pushed its Syndicate 1221 to a £15mn ($21.1mn) underwriting loss for the year, re-Insurance.com understands.

London, city skyline

HPS and Madison Dearborn complete deal to buy Compass

2018-04-04T10:49:00+01:00By

Private equity firms HPS Investment Partners and Madison Dearborn Partners (MDP), which own acquisitive broking house Broker Network, have completed a deal to buy London-based wholesaler Compass.

Standard and poors

S&P downgrades Chaucer as Hanover eyes sale

2018-04-03T11:35:00+01:00By

Ratings agency S&P has lowered Chaucer’s financial strength rating (FSR) by one notch from A to A- as the Lloyd’s carrier’s US owner The Hanover Group (THG) weighs up selling off the business.

Marsh paul denny

Marsh moves US financial and professional lines leader to UK

2018-04-18T10:55:00+01:00By

Marsh has named Paul Denny financial and professional practice leader for the UK.

Chris Lay

Marsh appoints Chris Lay CEO for UK and Ireland as Weil exits

2018-04-13T08:35:00+01:00By

Broking house Marsh has named Chris Lay as CEO of its UK and Ireland operations.

Marsh&McLclennan, logo

Infrastructure boss Charnaud the latest head to roll in Marsh cull

2018-04-12T14:45:00+01:00

Marsh veteran and the chairman of its global infrastructure practice Edwin Charnaud is set to be the latest senior executive to leave his role as the big three broker tries to cut costs amid a huge restructure, re-Insurance.com understands.

Lloyds average staffing levels 2106 17

Angerstein: Lloyd’s headcount leaps despite costly virtue signalling

2018-04-10T06:15:00+01:00

The Corporation of Lloyd’s senior management have been signalling their commitment to cost-reductions for some time - so one can imagine there was a collective groan when it published its market-wide results last month.