August 8, 2017
The London Market Group (LMG) announced that one of the core solutions for improving the London market’s efficiency, called structured data capture (SDC), has gone live for the lines of terrorism, financial lines, marine, property and casualty. By removing the …
August 3, 2017
The cyber attack that crippled Ukraine businesses and spread worldwide to shut down shipping ports, factories and corporate offices has taken a costly toll on the results of major U.S. and European companies in the latest quarter, with more to …
July 31, 2017
Dale Underwriting Partners, managed by Lloyd’s third party managing agency Asta, announced it has been granted “in principle” approval by the Lloyd’s Franchise Board to establish a special purpose arrangement (SPA). The SPA will support a portfolio of contingency and …
July 24, 2017
Specialist insurer Markel International has appointed Deepika Mathur to lead its entry into the Indian market. Capacity will be provided by Markel’s Syndicate 3000 at Lloyd’s and business will be written through the Lloyd’s India platform, based in Mumbai. The …
July 21, 2017
Castel Specialty, a division of Castel Underwriting Agencies Ltd., has expanded its portfolio with the launch of Castel Construction. London-based Castel Underwriting Agencies, part of Barbican Insurance Group, is a club-style MGA formation platform, which supports individual underwriters with smaller …
July 21, 2017
Hannover Re has completed the acquisition of the UK holding company Argenta Holdings Ltd., which owns the companies Argenta Syndicate Management and Argenta Private Capital, as well as a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121. The …
July 18, 2017
Specialist insurer Beazley has received authorization from the Central Bank of Ireland to convert its established Dublin-based reinsurance company into an insurance company permitted to transact business throughout the European Union. Beazley explained that its strategy to write EU non-life …
July 17, 2017
A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London said in a report on Monday. …
July 14, 2017
Bermuda-based AXIS Capital Holdings Ltd. announced it will launch a Lloyd’s managing agent after receiving authorization from Lloyd’s, the UK Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Effective Aug. 4, AXIS Managing Agency will assume management of …
July 7, 2017
Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over the next months that will seriously …