July 2016/1

Representatives of Lloyd's and the London company market have expressed their confidence that the London (re)insurance market is well-positioned to cope with economic uncertainty following a majority vote for the UK to leave the European Union in the 23 June referendum.

Catastrophe loss compilation agency Perils has lowered its estimate for insured losses from the UK floods linked to storms Eva and Frank last December to £538mn, down 7 percent on its previous estimate.

Cathedral Underwriting, part of Lancashire Holdings, has continued to rebuild its property team with the hire of Matthew Narbett from XL Catlin. 

Global specialty (re)insurer Sompo Canopius has formed a strategic partnership with Mexican insurer Grupo Nacional Provinical (GNP).

Allianz Global Corporate & Specialty (AGCS) has appointed Paul O'Neill as chief underwriting officer (CUO) Specialty and promoted him to the AGCS board, with effect from 1 October 2016, subject to regulatory approval.

Cooper Gay has hired Jonathan Prinn from Willis Towers Watson as head of global placement, reporting to group CEO Steve Hearn with effect from 12 September.

The need to keep the EU financial services passport is one of vital importance to the London market and should be a top priority for any new trading relationship between the UK and the EU, according to the International Underwriting Association (IUA).

As I write this sitting in the middle of EC3, it seems the whole of the UK is in the midst of a particularly frenetic political and economic soap-opera known as ‘Brexit'...

Marsh FINPRO has received widespread support from London management liability writers for its latest facility, in a clear demonstration of the continuing dominance of broker-led offerings in the current environment, Inside FAC can reveal.  

The beleaguered downstream energy market continued to evidence a rating slide during the second quarter of the year, with most reductions in the 10-20 percent range, according to the latest analysis by JLT Specialty.