Lloyd’s of London has declined to comment on speculation that it is on the verge of quitting its iconic headquarters and moving into a new Leadenhall Triangle scheme.
Composite rates for both personal and commercial US property and casualty insurance rose by 3 percent in May, according to a report released Thursday by MarketScout, placing both lines between the ‘flat’ to ‘adjusting upward’ categories on MarketScout's barometer.
Despite subdued tornado activity in the US during May, thunderstorm activity drove losses with four periods of severe weather resulting in aggregate insured losses estimated at more than $1 billion.
American International Group’s (AIG) board of directors has authorised the repurchase of additional shares of AIG common stock with an aggregate purchase price of up to $2 billion.
Continental Reinsurance, Africa’s largest private reinsurer outside of South Africa, has appointed Abayomi Oluremi-Judah as the company’s new head of life operations.
Re/insurer Catlin Group has established Catlin Middle East in the Dubai International Financial Centre (DIFC).
The US P&C insurance industry reserve position has deteriorated further, risking capital in a weakening rate environment.
Lloyd’s business ProSight Specialty Underwriters has made several additions to its senior finance and underwriting leadership as it continues to grow its presence at Lloyd’s of London.
Tokio Millennium Re, the reinsurance unit of Tokio Marine & Nichido Fire Insurance, has established a US branch as part of its strategy of growth and diversification.
London-based broker RFIB has launched a financial resource policy, which is led by carrier Ironshore Europe.