Randall and Quilter (R&Q) has completed a £30mn deal to take on the old Sportscover legacy book, now owned by Hamilton’s Lloyd’s platform in what is the second agreement of its type to be announced in less than a week.
London-based managing general agent Nexus has appointed investment bank Panmure Gordon as it ramps up efforts to sell a portion of the business, re-Insurance.com understands.
The wildfires that ravaged the state of California in the fourth quarter are expected to cost Fairfax - through its numerous subsidiaries - a total of $185.4mn.
A number of Lloyd’s contingency insurers have settled a $10mn lawsuit involving rap star Kanye West who cancelled 21 tour dates claiming he was suffering from a debilitating illness.
Tokio Marine Kiln has said that its flagship Lloyd’s syndicate 510 is expecting the return on its £1.13bn capacity to run to a loss of between 4.8 percent and 14.9 percent.
Sky-rocketing claims dealt Lloyd’s yacht underwriters a hefty blow last year as incurred claims soared to an eye-watering 221.4 percent of premium written in the fourth quarter.
Lloyd’s has a “long way to go” in taking advantage of the new insurance-linked securities (ILS) legislation that came into force last year, the Corporation’s chief financial officer (CFO) John Parry has said.
StarStone has appointed Andrew Summers senior political risk underwriter to join its newly launched crisis management division.
Hiscox has moved its US CEO Ben Walter to London to head up a newly-formed global retail division from the beginning of July.
Hamilton Underwriting Ltd, the Lloyd’s arm of the Bermudian (re)insurer Hamilton Insurance Group, has confirmed the departure later this year of its active underwriter of its Syndicate 3334, Trevor Carvey.