London News

S&P Reports Ratings Gap ‘Narrowing’ between Middle East & UK Insurers

Standard & Poor’s Ratings Services has published “How Middle East Non-Life Insurers Are Developing From A Rating Perspective: A Comparison With The U.K..” S&P initially stated: “Middle East non-life insurers are generally rated lower than their U.K. counterparts, and in …

‘Unofficial’ Tornadoes Cause Damage in Tennessee and Kentucky

An apparent tornado touched down Wednesday night west of Chattanooga, Tenn., damaging buildings and causing minor injuries to at least nine people, including three children. Tornadoes must be confirmed by the National Weather Service, but the Tennessee Highway Patrol and …

Marine Rates Drop Another 2% in 3Q

Insurance rates for marine coverages dropped 2 percent in the third quarter 2007, according to the WaveLine Survey, an online survey sponsored by LIG Marine Managers. The survey compiles responses from the top marine and longshore agents, brokers and carriers …

Marsh UK Analyzes Threats from Latest Avian Flu Outbreak

Marsh’s London office has issued a detailed bulletin following the outbreak of the H5N1 avian influenza virus in Suffolk. The report recounts what is known about avian flu, and what the potential impact of a major outbreak of the disease …

Urquhart Joins Lockton International Construction Team

Lockton International announced the appointment of Duncan Urquhart as Managing Director for their International Construction team. He will be based in the London office and joins Lockton from Oxygen, where he was Head of the Construction and Power team. Prior …

Marsh Names Melling Consumer Practice Head – Europe, Mideast, Africa

Marsh announced from its London office that Mike Melling has been named as the new CEO of its Consumer Practice in Europe, the Middle East and Africa (EMEA). He will also be a member of the EMEA Operating Committee, and …

Willis Analyzes ‘Subprime Crisis’

Willis Group Holdings has released an alert from the Company’s Financial Institutions (FI) practice, which looks at the meltdown in the U.S. subprime mortgage industry, which it notes is an “issue that has dramatically impacted individuals and financial institutions around …

La. Citizens Seeks New Broker for Reinsurance Coverage

Louisiana’s taxpayer-backed property insurance company will seek a new broker for reinsurance coverage because its current broker failed to disclose that it hired a daughter of the insurer’s embattled former chief executive. The board of Louisiana Citizens Property Insurance Corp. …

World War I Armistice Observed

On Sunday, Nov. 11, a delegation led by the Queen honored Great Britain’s “Glorious Dead” at the annual Remembrance Day ceremonies around the Cenotaph in Whitehall. On Friday Nov. 9 Lloyd’s held its annual remembrance service with an address by …

England, Netherlands Breathe Easier as High Tides Recede

The eastern coast of the U.K. and The coastal regions of the Netherlands are beginning to breathe sighs of relief as the highest tides in more than a decade – 1.5 meters (approximately 4.65 feet) above normal high tide levels …