london city abstract

PSC buys into BP Marsh amid £17mn capital raise

2018-06-12T08:02:00+01:00

Australian broking house PSC Insurance Group, which owns London intermediaries Alsford Page & Gems and Carroll & Partners, has taken a £15.5mn stake in BP Marsh as it looks to expand its operations in the UK.

Okane-Aspen

Aspen’s O’Kane to bag over $325,000 in benefits from Bermuda move

2018-06-08T13:31:00+01:00

Up-for-sale Aspen has offered its group CEO Chris O’Kane a benefits package worth $325,000 a year on top of his $853,000 base salary, to accommodate his move to Bermuda, which was revealed by re-Insurance.com last month.

Am trust financial home hero photo rev

AmTrust shares edges toward revised $14.75 offer price

2018-06-08T07:24:00+01:00

Shares in AmTrust climbed more than 3 percent yesterday to close at $14.56 in New York, shy of the $14.75 increased offer price from the firm’s owning family, which is looking to take the US insurer private.

AmTrust

AmTrust postpones vote on $2.7bn take-private deal after shareholder mutiny

2018-06-04T13:49:00+01:00

AmTrust has postponed the shareholder vote on a $2.7bn deal tabled by its CEO, his in-laws and their backers to take the firm private after it failed to gain enough support for the transaction.

london city abstract

PSC buys into BP Marsh amid £17mn capital raise

2018-06-12T08:02:00+01:00By

Australian broking house PSC Insurance Group, which owns London intermediaries Alsford Page & Gems and Carroll & Partners, has taken a £15.5mn stake in BP Marsh as it looks to expand its operations in the UK.

New Orleans 2005 Hurricane Katrina

Catastrophes make 2017 costliest year ever for UK specialty insurers

2018-06-01T13:33:00+01:00By

The UK specialty insurance market experienced the costliest year on record in 2017, according to EY.

Marine, container ship

UK P&I Club runs 90% combined ratio in 2017

2018-05-29T11:01:00+01:00By

Thomas Miller-managed UK P&I Club reported an impressive 90 percent combined ratio for the twelve months up to 20 February, which were marred by significant losses in the marine market.

Ross

Ardonagh’s Q1 losses narrow to £17mn as revenues climb

2018-05-23T09:44:00+01:00By

Private equity owned UK broker The Ardonagh Group has seen its pre-tax first quarter losses narrow from a deficit of £26mn ($34.7mn) in Q1 2017 to £17mn this quarter while its revenues leapt following a flurry of recent acquisitions.

Tokyo 2138168 1920

Japanese carriers hit by Trump tax changes

2018-05-22T07:46:00+01:00By

Japan’s big three carriers posted a mixed set of results , with all of MS&AD, Tokio Marine and Sompo hit by changes to the US tax code.