U.K.-based Kiln PLC, a leading Lloyd’s insurer, announced that its wholly owned Hong Kong subsidiary, R J Kiln & Co Limited, has acquired the Hong Kong based underwriting agency, International Reinsurance Services Limited (IRS), for the benefit of Names on …
In a speech to the annual Xchanging sponsored conference in Brighton, Lloyd’s chief executive Richard Ward said the London insurance market must “get back to basics” and provide a first class service to customers – or face the consequences. In …
The U.K.’s Royal & Sun Alliance Insurance Group plc has acquired Martello Underwriting Limited for £38.5 million ($73.2 million) payable in cash. The transaction is subject to regulatory approval. “Martello is a leading specialist provider of professional indemnity insurance (PI) …
Kansas City’s Lockton, Inc., the world’s largest privately owned insurance broker, announced the launch of Lockton International, the re-branded name of the former Alexander Forbes International Risk Services (AFIRS) business it formally acquired on November 9. Lockton agreed to acquire …
A decision by Justice Langley, of the High Court in London, has dismissed a class-action lawsuit brought by Lloyd’s “Names”, individual investors, against the British government for the financial losses they suffered during the 1980’s and ’90’s. More than 1,000 …
Check your medicine cabinet: Millions of bottles of the widely used pain reliever acetaminophen — some sold as long as three years ago — are being recalled because they may contain metal fragments. The recall affects 11 million bottles containing …
The Association of British Insurers (ABI) has issued a new report that warns of the dangers of increased flooding in Eastern England. Among other findings, the report, which was compiled using data supplied by Calif.-based Risk Management Solutions, concludes: — …
In a report, Major (Re)Insurers Address Legacy Reserving Issues, While U.S. Hurricane Season Is Quiet, Standard & Poor’s Ratings Services notes that the “most significant development in recent months for European (re)insurers has been an indication that U.S. reserving issues …
A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating (ICR) of “a” of London-based W.R. Berkley Insurance (Europe) Limited (WRBIEL) with a stable outlook. Best said that it its opinion “WRBIEL’s stand-alone …
A.M. Best Co. has upgraded the financial strength rating to “A-” (Excellent) from “B++” (Very Good) of the U.K.-based London General Insurance Company Limited (LGI) and Combined Life Assurance Company Limited (CLAC). Best also assigned an issuer credit rating of …
