A review of almost 400 reinsurance contracts underwritten at Lloyd’s of London has revealed potentially significant vulnerabilities and exposures if a catastrophic cyber attack should occur. Analysis of 392 property and casualty reinsurance policies underwritten by a trio of reinsurers …
A.M. Best has revised the outlooks to stable from positive of Lloyd’s and Lloyd’s Insurance Co. (China) Ltd., while at the same time affirming their financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a+”. In …
Brit Ltd., the global specialty insurer and reinsurer, announced it has made a significant strategic investment in Camargue Underwriting Managers, one of South Africa’s leading providers of specialized insurance products. Financial details of the transactions were not disclosed. “The investment …
Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the bloc. Insurers are making contingency plans after …
Markel International, the London-based specialist insurer, has joined forces with Tokio Marine Kiln, Pembroke and AEGIS London to lead the Markel livestock consortium, offering cover of up to $30 million per location for livestock risks. The consortium offers larger single …
Tokio Marine Kiln (TMK) has completed the final stage of its integration by restructuring its underwriting divisions along sector lines. The new structure will offer clients access to both Lloyd’s and company paper with underwriting divisions now capable of writing …
Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing’s claims across large swathes of the South China Sea, fueling geopolitical tensions in the vital waterway. A tribunal in The Hague, Netherlands, found …
London Market Group (LMG) announce that the first standalone terrorism risk was bound on PPL – the London Market’s electronic placing platform – within the first hour of trading yesterday morning. The broker was Marsh and the underwriter was Chaucer. …
London Market Group (LMG) announced that PPL – the London Market’s electronic placing platform began trading today, with brokers and underwriters exchanging information on standalone terrorism risks, the first class of business to go live on the system. “We are …
Sompo Canopius AG and Mexico’s Grupo Nacional Provinical SAB formed a strategic partnership. This arrangement will help both parties to develop new business and insurance products for the Mexican market, “capitalizing on GNP’s position as a leading domestic insurer and …
