Following Lloyd’s release of its composite results for the first six months of 2012 – a £1.53 billion [$2.4 billion] profit – Lloyd’s chief executive Richard Ward was understandably pleased. In a telephone interview he explained that the figures are …
Lloyd’s of London’s first six months of 2012 financial figures couldn’t evince a greater difference from those posted in the first half of 2011. It posted profits of £1.53 billion ($2.47 billion). Lloyd’s said “the result follows a benign first …
The Ryan Specialty Group (RSG) announced that it would “significantly strengthen its MGA and third party administration (TPA) capabilities in the UK” with an agreement to acquire insurance services provider Direct Group for an undisclosed consideration. The acquisition is subject …
A bulletin from Lloyd’s notes that “high potential employees from US broking firms will spend the coming week in London, standing in the shoes of the Lloyd’s underwriter and gaining a detailed understanding of how business is transacted in the …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the Bermuda-based Catlin Insurance Company Limited (CICL), Catlin Insurance Company (UK) and Catlin Re Switzerland …
The inaugural Managing General Agents’ Association (MGAA) capacity exchange has been hailed as a success by insurers and MGA’s alike as an effective route to identifying and developing new products and scheme opportunities. The event, held last week at the …
Lloyd’s has announced two top level executive appointments. Vincent Vandendael will take over as Director – International Markets, and Bruce Van Saun has been appointed as an independent non-executive director on the Lloyd’s Franchise Board. Vandendael is scheduled to take …
The newly acquired Lloyd’s ANV Syndicate announced the opening of its Accident and Health (A&H) business. The business was “previously authorized as part of Syndicate 1861’s 2012 business plan and in alignment with the ANV team’s focus on building its …
A new report on the Lloyd’s insurance market by Guy Carpenter & Co. finds that “Lloyd’s is looking to improve its global competitiveness despite mounting challenges including low investment returns, record catastrophe losses, subdued economic growth in developed markets and …
Luxembourg-based Flagstone Reinsurance Holdings, S.A. announced that it has completed the planned sale of its Lloyd’s segment to a wholly-owned subsidiary of ANV Holdings BV for approximately $49.7 million in cash. “As a result of the transaction, the Company is …
