A cyber problem that temporary shuts down a top U.S. cloud computing provider could trigger as much as $19 billion in business losses, only a fraction of which would be insured, Lloyd’s of London said in a report on Tuesday. …
AXIS Capital Holdings Ltd. announced it has received authorization from Lloyd’s for AXIS Managing Agency Ltd. to commence the management and oversight of Novae Syndicate 2007 and SPS 6129 after its acquisition of Novae in October 2017. The authorization became …
Twenty or so years ago, a London market marine underwriter declared he was going golfing one afternoon because he had reached his annual capacity level. That was an underwriting model commonly used in the Lloyd’s and London markets. Underwriters sat …
Randall & Quilter (R&Q) announced it has acquired Constantia Insurance Co. (Guernsey) Ltd., a captive company now in run-off, from Old Mutual plc. Regulatory approval for the acquisition has been granted and Constantia will be amalgamated into Capstan Insurance Company …
Ironshore Inc. announced that its Pembroke Managing Agency has been granted “in principle” approval by the Lloyd’s Franchise Board to create GIC Re’s syndicate at Lloyd’s. “The combination of Pembroke’s specialty lines underwriting capability and GIC Re’s regional expertise will …
Travelers Europe announced it has appointed Nick Rnjak to lead Travelers Syndicate Management Ltd., its wholly owned platform in the Lloyd’s insurance market. Rnjak most recently served as chief underwriting officer for Travelers Syndicate. In his new role, he will …
Pioneer Underwriters announced it has received approval from Lloyd’s for Syndicate 1980 to commence underwriting business attaching on or after Jan. 1, 2018. Pioneer Syndicate 1980 will have a gross premium income of £278 million ($371.2 million) and will underwrite …
Bretton Woods International (BWI), the specialist insurance broker and managing general agent, has received a license to operate in the UK as an independent broker and, at the same time, is now registered as a Lloyd’s broker. London-based BWI was …
After more than two years of red tape that kept tenants from moving in, China’s tallest skyscraper, the Shanghai Tower, has been quietly opening and filling office space. More than 60 companies now occupy office space on its 128 floors …
London’s financial industry welcomed progress on a divorce deal with the European Union on Friday but said it saw little reason to alter preparations for when Britain leaves the EU. The agreement on Friday paves the way for arduous trade …
