Only hours after the Lloyd’s Syndicate 1884 announced it had ceased underwriting, the unrated Danish insurer Qudos Insurance confirmed that it has suspended underwriting with immediate effect.
The US Federal Trade Commission (FTC) has granted US antitrust approval for Marsh & McLennan Companies’ $5.6bn takeover of JLT.
The Ardonagh Group has described an Insurance Insider article as “inaccurate” in a bitter legal battle between the firm and its larger rival, Gallagher Group.
A host of London market and Lloyd’s insurers have lost their High Court battle over a decision to not pay out on a $1.7mn marine cargo policy over fears that payment may expose them to a wave of Iran-related political sanctions.
An offshore company associated with UK broking house The Ardonagh Group paid a £625,000 loan to an employee of a rival firm without any intention of securing his “agreement” or “loyalty” to join the group despite him later doing so, according to defence submissions filed at the UK High Court.