The casino magnate who accidentally poked a hole in a Picasso painting said insurer Lloyd’s of London has offered to settle his $54 million claim of lost value, but the talks aren’t going the way he’d like. “Their offer is …
The Market Reform Group (MRG) has produced its plan for continuing to modernize London market processes throughout 2007 and beyond. “Following full consultation with market firms, the plan sets out the group’s long-term vision and key priorities for this year …
Lloyd’s has announced that Julian James, its director of Worldwide Markets, will be leaving at the end of April to join Lockton International. Lloyd’s CEO Richard Ward, issued a written statement, distributed by e-mail, in which he commented: “I would …
Bermuda-based Catlin Group Limited has announced further details on progress relating to the acquisition and integration of Wellington Underwriting plc (See IJ web site Oct. 30, Dec. 19, 2006 and related articles). To finance the acquisition Catlin has priced an …
The Insurance Bureau of Canada asks the rhetorical question as to whether Canadian drivers are “prepared to give up their cellphones and other distractions while driving?” The IBC noted that “despite the growing body of research that concludes that driving …
Insurers must address global climate change as they cope with the growing cost of extreme natural disasters, said Lord Peter Levene, chairman of Lloyd’s, the London insurance market. “We cannot risk being in denial on catastrophe trends,” Levene said today …
The London-based ACE European Group has announced three significant management and organizational changes with immediate effect as follows: Richard Pryce, currently President of ACE Global Markets (AGM), ACE’s International and Specialty business, will assume additional responsibility for ACE’s UK Property …
Tony Markel, president and COO of Markel Corporation, has expressed his satisfaction at the progress Lloyd’s has made and the London market’s current strong financial condition. In a comment on the Lloyd’s web site (www.lloyds.com) Markel said he was “amazed” …
Houston-based Markel Global Marine & Energy Inc. (MGME) has launched a new division, Onshore Energy Property, the company announced. Established Nov. 1, 2006, this new division will handle onshore property, builder’s risk and time element coverage on petroleum, gas, petrochemical, …
Marsh has appointed David Bagnall as new sales and business development leader in the London office of its Financial and Professional Services Practice (FINPRO), the broker’s worldwide professional services division. He will be responsible for growing the business at a …
