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Insurance
Lloyd’s boosts profits by 21.7% YOY in H1 2016 despite higher claims
Lloyd’s reported a significant increase in profits for the first half of 2016 despite of what it describes as challenging market conditions in its interim report.   22 September 2016
Insurance
Marine cargo insurers face reduced premium due to difficult market conditions
A strong US dollar and falling cargo values are the main reasons for the 9 percent reduction in global cargo premiums from 2014 to 2015, according to Nick Derrick, cargo committee chairman for the International Union of Marine Insurance (IUMI).   21 September 2016
Insurance
London Market must attract young talent to remain competitive
The London Market lacks the young talent it requires to help it adapt to some of the technology-driven change it is pushing through including the introduction of its electronic placement platform.   20 September 2016
Insurance
AIG sells its interest in Ascot subsidiaries but commits to Bermuda
American International Group is to sell its interest in Ascot Underwriting Holdings and related syndicate-funding subsidiary Ascot Corporate Name to the Canada Pension Plan Investment Board (CPPIB), which invests the assets of the Canada Pension Plan.   19 September 2016
Insurance
10 managing agents in deal to share hurricane risk model
Lloyd’s and the Lloyd’s Market Association (LMA) have made a deal with US hurricane model provider Applied Research Associates (ARA), which will provide its Hurloss hurricane model and Middle East earthquake model to subscribing managing agents on a shared service basis.   19 September 2016
Insurance
Advent launches bespoke underwriting unit; hires three from Beazley
Advent, a Lloyd’s insurer, has established a bespoke products underwriting unit, let by Paul Driver and Philip Misztela, and supported by Stuart Cowen.   19 September 2016
Insurance
Verve to underwrite professional risks via Castel’s MGA platform
Verve Risk Partners has joined as a cell on the Castel Underwriting Agencies MGA formation platform to target US professional and management liability risks.   19 September 2016
Insurance
Neon expands M&A team
Neon, an insurer operating in the specialist Lloyd’s market, has appointed Andrew Thornton as underwriter and solicitor for merger and acquisitions tax insurance, effective immediately.   19 September 2016
Insurance
XL Catlin to acquire Brooklyn Underwriting
XL Catlin has entered into a definitive agreement to acquire Brooklyn Underwriting and Brooklyn IT (Brooklyn) from Paul Hines, their beneficial owner.   16 September 2016
Insurance
Willis appoints Australasia head after JLT poach
Willis Towers Watson has appointed Andrew Boal as regional head of Australasia, following the departure of chairman and CEO Tony Barber, who has now moved to JLT.   16 September 2016

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