UK market News

UK’s Century Underwriting Launches Liability Division, Senior Leaders Named

Century Underwriting, the London-based specialist commercial managing general agent, has launched a new liability underwriting division and made two senior appointments to support its growth. Tony Collman has been appointed to lead the development and growth of the division with …

London’s Mayor Khan Warns Exiting EU Could Make UK Poorer

London Mayor Sadiq Khan told business leaders that he’ll fight any attempt to take the U.K. out of the European Union’s single market, a move he says could make Britain poorer. “If we were to leave the single market without …

UK Financial Sector’s Optimism Plunges in Wake of Brexit Vote

Optimism about the outlook for Britain’s financial services sector is at its lowest point since the financial crisis, a survey of finance firms showed on Monday. The latest survey of 115 financial services firms by business lobby CBI [Confederation of …

Ironshore’s IronPro Launches Cyber Crime Product for English & Welsh Solicitors

IronPro, Ironshore’s financial and professional lines unit, is introducing Ironshore CyberCrime and DataProtect for English and Welsh Solicitors. Paragon International Insurance Brokers, a London-and-Bermuda-based independent global insurance broker, will exclusively market this product in conjunction with cyber monitoring and alert …

Aspen Risk Management Enters Renewal Agreement with Liberty Specialty Markets

Aspen Risk Management Ltd. (ARML), the regional UK property and casualty business of Aspen Insurance, has entered into a renewal rights agreement with Liberty Specialty Markets (LSM), which is part of Liberty Mutual Insurance Group. Under the agreement, LSM’s UK …

UK Chancellor of Exchequer to Discuss Brexit Plans with Insurers & Bankers

Chancellor of the Exchequer Philip Hammond will meet senior bankers in London on Wednesday to set out the government’s plans to support the economy and sound out their views for a post-Brexit Britain. Hammond will host several members of the …

EU Passporting Essential for Lloyd’s Market Position in Post-Brexit World: Fitch

The UK’s exit from the European Union, or “Brexit,” could lead to a loss of business for Lloyd’s of London unless the UK government is able to negotiate passporting arrangements to maintain access to the European Economic Area (EEA)*, according …

Brexit Vote Prompts Inquiries from Insurers Weighing Opening Offices in Dublin

Ireland says the Brexit vote has led to a jump in inquiries from London firms considering opening offices in Dublin, one of a handful of European cities trying to draw business away from Britain’s financial center. Irish officials say they …

Towergate Forms £30M, 5-Year Partnership with Yacht Specialist N&G (Zurich Unit)

Towergate and Navigators & General (N&G), a part of the Zurich Group, have signed a strategic partnership under which N&G will provide capacity and expertise for Towergate Marine products. Towergate Marine provides insurance for around 25,000 pleasure crafts including super …

Beazley to Get EU Licenses for Irish Reinsurance Business – After Brexit Vote

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 …