http://www.barbicaninsurance.com Barbican Insurance rss news feed en-gb Copyright 2010 All rights reserved Company News iCMS 60 201 43 http://www.barbicaninsurance.com /images/d4556eb6-f9fe-4321-9a54-09688d1a7f01.jpg http://www.barbicaninsurance.com/newsitem?newsitem=42e51b5b-b7f5-4fde-9fb1-6d700f69f09f Equity Development reckon Lloyd's syndicates apparently most exposed to risk from Hurricane Earl "are the three side-car syndicates 6103 (MAP), 6104 (Hiscox) and 6106 (Amlin). 3 September 2010 11:04:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_42e51b5b-b7f5-4fde-9fb1-6d700f69f09f http://www.barbicaninsurance.com/newsitem?newsitem=9f0f49cd-e7a3-4f3a-bb18-f8d9faa7180f Just a few months after joining as their new CEO, Clive Buesnel has resigned from Jubilee. The group writes motor, property, personal lines and life business with a total capacity of around £170m. 2 September 2010 11:27:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_9f0f49cd-e7a3-4f3a-bb18-f8d9faa7180f http://www.barbicaninsurance.com/newsitem?newsitem=cb3e7bbd-d4b0-480d-adf2-abcd4913d292 Former head of Prudential and AXA, Mark Wood, has been signed up by Lloyd's insurer Chaucer as a non-executive director. He joins the audit, remuneration and nomination committees. 2 September 2010 10:56:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_cb3e7bbd-d4b0-480d-adf2-abcd4913d292 http://www.barbicaninsurance.com/newsitem?newsitem=d8541b93-0b76-4d44-8b09-62b0e2de8f74 The US East Coast has only a day or so to get ready for a possible strike by Hurricane Earl. The storm has already delayed flights in the Caribbean and halted ship loading at a refinery in the US Virgin Islands. 31 August 2010 10:30:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_d8541b93-0b76-4d44-8b09-62b0e2de8f74 http://www.barbicaninsurance.com/newsitem?newsitem=cec053eb-baf2-4a35-8938-6d2068c10207 Concerned about some managing agents' ability to implement Solvency II, Lloyd's has given six of them a 'red alert' warning following the setting up of a colour code system designed to rank how ready they are. 26 August 2010 15:41:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_cec053eb-baf2-4a35-8938-6d2068c10207 http://www.barbicaninsurance.com/newsitem?newsitem=f91675d8-cdb6-4d99-a9f4-c53236524a45 The FSA is undertaking a Section 166 investigation into Lloyd's underwriter, Equity Red Star, over its reporting of bodily injury claims. 23 August 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_f91675d8-cdb6-4d99-a9f4-c53236524a45 http://www.barbicaninsurance.com/newsitem?newsitem=918ae269-9da4-4816-a63a-5bfd8f5f0014 A new set of investors is being attracted to the catastrophe bond market, according to Aon Benfield Securities, with many of these buyers being institutional investors and pension funds. 20 August 2010 12:47:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_918ae269-9da4-4816-a63a-5bfd8f5f0014 http://www.barbicaninsurance.com/newsitem?newsitem=46eaed3f-0e47-41de-8bb0-328af031e733 Fitch Ratings says all the European insurers it measures could withstand the shock of Greece defaulting on government debt after it carried out a "stress test" based on such a scenario. It has not changed any of their ratings. 19 August 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_46eaed3f-0e47-41de-8bb0-328af031e733 http://www.barbicaninsurance.com/newsitem?newsitem=ea065b8e-aa19-4a14-a62d-1202d39eb04d After less than two years in business, Amlin has closed its US platform. The (re)insurer was the first Lloyd's agency to establish a representative office in Illinois and specialised in property, casualty, auto and marine cargo business, 19 August 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_ea065b8e-aa19-4a14-a62d-1202d39eb04d http://www.barbicaninsurance.com/newsitem?newsitem=95825233-6fa7-4e62-b3fd-7611aed6cc1b Chartis broked the $30m hull cover for the Aires Boeing 737-700 that split in two landing in Columbia on 16th August. There were 121 people passengers and six crew on board but only two fatalities originally reported. 17 August 2010 13:31:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_95825233-6fa7-4e62-b3fd-7611aed6cc1b http://www.barbicaninsurance.com/newsitem?newsitem=13b05915-60d4-40cf-bffd-235c0e12a342 Hiscox is to provide 25% of Dual International's global capacity in a partnership deal with the underwriting division of the Hyperion Insurance Group. 13 August 2010 10:55:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_13b05915-60d4-40cf-bffd-235c0e12a342 http://www.barbicaninsurance.com/newsitem?newsitem=f59774d0-d425-4cf7-ab5e-75a9fb03bb4d With Russian farmers having to cope with poor wheat harvests in particular, Swiss Re expects the current drought conditions to spark more interest in the country's new crop insurance market. 11 August 2010 11:07:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_f59774d0-d425-4cf7-ab5e-75a9fb03bb4d http://www.barbicaninsurance.com/newsitem?newsitem=cc9a0bec-f3eb-4372-a9ba-212d5c97ccf0 So far, only three Lloyd's syndicates with third-party capital are known to be looking at cutting their capacity for 2011. 10 August 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_cc9a0bec-f3eb-4372-a9ba-212d5c97ccf0 http://www.barbicaninsurance.com/newsitem?newsitem=94f43b24-f946-4889-84a0-850eb41a05f4 Despite the catastrophe toll of recent months, Swiss Re has managed to return impressive figures for this year, with a net income of $812m in the second quarter. Novae has also performed well with a half year pre-tax profit of £13.6m. 6 August 2010 13:17:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_94f43b24-f946-4889-84a0-850eb41a05f4 http://www.barbicaninsurance.com/newsitem?newsitem=8b399945-2e46-4221-912c-7d9e1b3079df Global insurance risk underwriter, Catlin, has revealed record first half losses while profit figures for Hardy Underwriting are also down, by 70%. Both companies have been hit hard by recent world catastrophes. 6 August 2010 12:14:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_8b399945-2e46-4221-912c-7d9e1b3079df http://www.barbicaninsurance.com/newsitem?newsitem=7baaca28-57f5-4c59-bf9b-2a20a14ee302 Paul Evans, former chief executive of AXA Life, has been put in overall charge of the group’s UK business following the sale of its legacy life business to Resolution in June. The current CEO, Nicolas Moreau, is leaving to take the top job in Axa France. 4 August 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_7baaca28-57f5-4c59-bf9b-2a20a14ee302 http://www.barbicaninsurance.com/newsitem?newsitem=55a2dd55-4879-47ea-98e9-2d341df9a77d Premiums to cover against Somali piracy have fallen because more insurers are now offering cover. Buying $5m of coverage currently costs as little as $15,000 per voyage, half the peak rate in 2008. 3 August 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_55a2dd55-4879-47ea-98e9-2d341df9a77d http://www.barbicaninsurance.com/newsitem?newsitem=eea6dcb6-b6f5-4c37-96b0-d3731c0994b3 If Congress allows the current federal terrorism insurance backstop to expire, an alternative government-backed scheme must be put in place, the Risk & Insurance Management Society Inc. has warned the Obama administration. 3 August 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_eea6dcb6-b6f5-4c37-96b0-d3731c0994b3 http://www.barbicaninsurance.com/newsitem?newsitem=771c2394-dcb7-421c-a2b0-60194eef9201 Losses from the Deepwater Horizon oil rig disaster will not have the same impact on the upstream energy insurance market as Hurricane Katrina in 2005, so claims insurance broker, Marsh, in its latest report. 29 July 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_771c2394-dcb7-421c-a2b0-60194eef9201 http://www.barbicaninsurance.com/newsitem?newsitem=23c0627b-a692-4e11-84a8-60ca751b8d3c US private equity firm, Apollo Management, is moving nearer to its takeover goal with Brit agreeing to access to its books and considering an increased offer of £10.75 a share. 29 July 2010 12:53:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_23c0627b-a692-4e11-84a8-60ca751b8d3c http://www.barbicaninsurance.com/newsitem?newsitem=551f3d37-f85f-492e-8c7c-a168429e2ca2 Lloyd’s of London insurer, Beazley, report its first-half profit has more than tripled on higher sales and a foreign-exchange gain. Net income climbed to $97.9 million in the six months to June 30 from $31.2 million a year earlier. 28 July 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_551f3d37-f85f-492e-8c7c-a168429e2ca2 http://www.barbicaninsurance.com/newsitem?newsitem=025631d0-ee7d-43c6-aee7-0e0d2a5a8aae A tough 12 month deadline has been set by the Chinese authorities for Lloyd's to establish its underwriting platform there. As chief information officer, Peter Hambling, said: "It's a very exciting opportunity for Lloyd's but it is also a challenging one. Were going to have to set this up more quickly than anyone has done before." 22 July 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_025631d0-ee7d-43c6-aee7-0e0d2a5a8aae http://www.barbicaninsurance.com/newsitem?newsitem=e33e5393-e9bf-4a2b-8aaf-e7472f0bd6df As a further endorsement of its campaign against contingent commissions, Willis has got leading law firm, Edwards Angell Palmer & Dodge, to issue a white paper highlighting conflicts of interest created by such payments. 22 July 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_e33e5393-e9bf-4a2b-8aaf-e7472f0bd6df http://www.barbicaninsurance.com/newsitem?newsitem=7f3c22cb-8469-4b96-a38b-ad6abe4f3c71 Adrian Stewart, ex MD at Guy Carpenter, is being signed up by Miller to spearhead its property reinsurance business. He will be joined by Nick Pomeroy, also previously a senior figure at Guy Carpenter, and industry loss warranty specialist Jeremy Crowch. 22 July 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_7f3c22cb-8469-4b96-a38b-ad6abe4f3c71 http://www.barbicaninsurance.com/newsitem?newsitem=b8968965-f785-4266-90bc-288106879700 In the wake of the revised moratorium on deep water drilling in US waters issued by the Obama administration, the insurance market is likely to back the latest suspension due to run up to the end of November. This certainly the opinion of Munich Re's Watkins syndicate who see the safety of the oil industry as being the paramount criteria. 20 July 2010 12:25:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_b8968965-f785-4266-90bc-288106879700 http://www.barbicaninsurance.com/newsitem?newsitem=ec97802b-30ba-40bb-93f0-7dd9ec921915 Insurance and reinsurance brokers, BMS, have entered discussions with Lloyd's about a new syndicate to start in January 2011 with an initial capacity of £60m underwriting a broad property and casualty book. This would be the first time a broker had managed to set up a syndicate at Lloyd's since the !982 Lloyd's Act. 20 July 2010 11:57:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_ec97802b-30ba-40bb-93f0-7dd9ec921915 http://www.barbicaninsurance.com/newsitem?newsitem=a398023d-0c18-4929-ba2e-ca8821e01e28 With Lloyd's now having admitted reinsurer status in Roi de Janeiro, Navigators Syndicate 1221 has appointed a local representative in Brazil. This follows close on the heels of Chaucer's recent announcement about opening a new office in Buenos Aires, Argentina, later this year. 20 July 2010 11:15:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_a398023d-0c18-4929-ba2e-ca8821e01e28 http://www.barbicaninsurance.com/newsitem?newsitem=6b87da8b-e3ab-459a-9893-6f0918416251 Reuters reports that the following the Deepwater Horizon oil spill, the EU may consider new rules limiting the depth of deepwater oil drilling. In addition, the EU Energy Commissioner has called for further compulsory insurance for oil companies. 13 July 2010 15:01:00 60 Chris Gough http://www.barbicaninsurance.com_newsitem_6b87da8b-e3ab-459a-9893-6f0918416251 http://www.barbicaninsurance.com/newsitem?newsitem=9c830f8b-9389-4882-9c49-791433cb30c2 Claiming “materially misleading statements and omissions” made by Goldman Sachs during stock offers for Fannie Mae shares, US insurance giant Liberty Mutual wants over $60M compensation from the bank for losses after Fannie Mae was effectively nationalised. 13 July 2010 15:05:00 60 Chris Gough http://www.barbicaninsurance.com_newsitem_9c830f8b-9389-4882-9c49-791433cb30c2 http://www.barbicaninsurance.com/newsitem?newsitem=d2b91b20-5e17-4521-8b92-f604460d5378 Lloyd’s CEO Richard Ward foresees the cost of insurance coverage for offshore oil rigs in the Gulf of Mexico rising by up to 30% in the wake of the Deepwater Horizon spill. Speaking on Bloomberg Television, Ward said that premiums for offshore installation cover had been too low for “many, many years”. 13 July 2010 15:07:00 60 Chris Gough http://www.barbicaninsurance.com_newsitem_d2b91b20-5e17-4521-8b92-f604460d5378 http://www.barbicaninsurance.com/newsitem?newsitem=a08f3ecd-8f1a-406e-8f8e-b45b23f55d0f With Barack Obama imposing new sanctions against Iran, Lloyd's will need to get its members to comply with US ruling. Those sanctions are aimed mainly at companies providing Iran with petroleum and the underwriters of such shipments. 6 July 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_a08f3ecd-8f1a-406e-8f8e-b45b23f55d0f http://www.barbicaninsurance.com/newsitem?newsitem=4d2f75f3-50bd-4748-9575-59e612ab5be5 Lloyd's cover holder status has been gained by Policyfast. This not only means a London base for the wholesale broker but also involves the acquisition of an underwriting team from Stevenson Price. 6 July 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_4d2f75f3-50bd-4748-9575-59e612ab5be5 http://www.barbicaninsurance.com/newsitem?newsitem=e5e44526-755e-41ee-a2c9-1ed986935f1b £200mn is the likely upper limit of insured losses from Hurricane Alex. That's according to modelling experts, AIR Worldwide, who have based their calculations on the limited population and insurance penetration in those parts of Mexico that have been mainly affected. 2 July 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_e5e44526-755e-41ee-a2c9-1ed986935f1b http://www.barbicaninsurance.com/newsitem?newsitem=32c75943-b016-4dfa-828c-7a771ee48f0e Quoting "anticipated market conditions", the Hiscox Syndicate 33 at Lloyd's will be cutting back its capacity by some 10% in 2011. 2 July 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_32c75943-b016-4dfa-828c-7a771ee48f0e http://www.barbicaninsurance.com/newsitem?newsitem=446af3b8-066d-4534-9793-13f773ea0908 Now Catlin has followed recent moves by Quinn—and more recently, Hiscox—in withdrawing from the solicitors' professional indemnity sector. The Bermuda insurer referred to the same "major problems in the marketplace which have been cited by other insurers". Zurich has confirmed it will continue to operate in this sector. 1 July 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_446af3b8-066d-4534-9793-13f773ea0908 http://www.barbicaninsurance.com/newsitem?newsitem=7a25ad87-f47c-4321-89c8-0d305ea6b040 With investors reckoning on the buy out by Apollo being successful, Brit Insurance's 6.625% subordinated debt issue has now dipped noticeably from the price it was at the time the bid was first announced. 28 June 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_7a25ad87-f47c-4321-89c8-0d305ea6b040 http://www.barbicaninsurance.com/newsitem?newsitem=046d781a-d570-44b2-aec4-bee7ef3884bb With all the pundits predicting above-average activity for the upcoming hurricane season, catastrophe bonds have been hit badly. The recognised benchmark for this, the Swiss Re Cat Bond Price Return Index, has fallen for five consecutive weeks—and is as low as it was last October. 26 June 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_046d781a-d570-44b2-aec4-bee7ef3884bb http://www.barbicaninsurance.com/newsitem?newsitem=6e2648e0-e2d9-4ba1-8c1b-da94d745b937 Betting against France has stopped Warren Buffett having to pay out $30 million after the team went out of the World Cup. That was the cost had France gone on to win the tournament in South Africa. It was Ajit Jain, head of Berkshire Reinsurance Group, who actually sold the contract. 23 June 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_6e2648e0-e2d9-4ba1-8c1b-da94d745b937 http://www.barbicaninsurance.com/newsitem?newsitem=dfbd6838-ad25-4287-93f7-13c7e618fef7 Brit Insurance's major shareholders have lobbied the Lloyd's insurer to go back to Apollo for a better offer than the £770m bid made earlier this month by the US private equity operation. 21 June 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_dfbd6838-ad25-4287-93f7-13c7e618fef7 http://www.barbicaninsurance.com/newsitem?newsitem=44042f9d-44a7-4884-aa08-45566fa63edd Specialist Lloyd’s insurer, Argo International, has made an innovative move with the addition of the entertainment business to its underwriting portfolio. 16 June 2010 17:35:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_44042f9d-44a7-4884-aa08-45566fa63edd http://www.barbicaninsurance.com/newsitem?newsitem=606b6cb7-fb90-439d-b83e-da2c1cc6ae5b A strategic energy alliance for the Latin American market has been put together by Lloyd’s insurer, Chaucer, with Boots & Coots, the well control company and insurance brokers, Mexbrit and Global Special Risks. 15 June 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_606b6cb7-fb90-439d-b83e-da2c1cc6ae5b http://www.barbicaninsurance.com/newsitem?newsitem=40a32098-9a3a-4d85-b58b-a7a568eb3e8b Against the background of a forecasted above-average hurricane season, the windstorm insurance pool sponsored by the state of Massachusetts has given the go-ahead for Munich Re to launch a $100m cat bond. 15 June 2010 17:04:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_40a32098-9a3a-4d85-b58b-a7a568eb3e8b http://www.barbicaninsurance.com/newsitem?newsitem=0fe0373b-42d1-4d76-83cd-f9548742310b A £1.4m investment is being put into Lloyd’s insurance and reinsurance broker, NCG Professional Risks. The cash is from BP Marsh, who has acquired a 30% stake in NCG holding company, US Risk (UK) Ltd. 10 June 2010 13:25:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_0fe0373b-42d1-4d76-83cd-f9548742310b http://www.barbicaninsurance.com/newsitem?newsitem=dddd466d-efb6-4cba-979f-6261b66749e8 Zurich UK’s chief executive, Stephen Lewis, has reshuffled his top team with key changes in the finance and claims departments.

He has also recruited Aviva's former director of marketing and communications, Kay Martin, to become chief marketing officer and head of UKGI strategy as from the 1st June. 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_dddd466d-efb6-4cba-979f-6261b66749e8 http://www.barbicaninsurance.com/newsitem?newsitem=89a603f5-7a75-400e-af02-101241d92ba2 Lloyd’s of London reckons the World Cup has been insured for at least £6.2bn in total. All the stadia and training venues are covered for about £3.2bn with the myriad promotional enterprises linked to the whole event accounting for the rest. 8 June 2010 13:17:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_89a603f5-7a75-400e-af02-101241d92ba2 http://www.barbicaninsurance.com/newsitem?newsitem=de2e4210-912b-4749-8d8e-34f185f8d83c American giant takes ‘natural step’ to trading as a fully-fledged syndicate. 4 June 2010 11:55:00 60 Chris Gough http://www.barbicaninsurance.com_newsitem_de2e4210-912b-4749-8d8e-34f185f8d83c http://www.barbicaninsurance.com/newsitem?newsitem=8a456871-d696-4955-9264-89dac858eb69 Speculation as to the ‘insured risk’ value of the England World Cup squad in South Africa puts the ‘resale value’ of the 23 stars at £293 million—but that’s probably not the total exposure faced by the London market. 4 June 2010 11:53:00 60 Chris Gough http://www.barbicaninsurance.com_newsitem_8a456871-d696-4955-9264-89dac858eb69 http://www.barbicaninsurance.com/newsitem?newsitem=393352d8-4370-4960-a4c4-80443efe0ca1 Prudential chief executive Tidjane Thiam is in touch with all key Prudential investors following the withdrawal of the Pru’s reduced $30.4bn bid for AIG’s Asian operation, seeking to calm fears and settle uncertainty. 4 June 2010 11:50:00 60 Chris Gough http://www.barbicaninsurance.com_newsitem_393352d8-4370-4960-a4c4-80443efe0ca1 http://www.barbicaninsurance.com/newsitem?newsitem=4749556f-0dac-49c2-883a-749cfe90ef16 The Serious Fraud Office has dropped its investigation into the now defunct UK arm of AIG Financial Products. It has spent the last year or so looking into possible “criminal conduct” at the time of the division writing off massive toxic mortgage debts. 27 May 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_4749556f-0dac-49c2-883a-749cfe90ef16 http://www.barbicaninsurance.com/newsitem?newsitem=df53ed86-bda3-447c-aa22-fd2a42ee0e87 Describing the combining of AIA’s two Asian businesses as ‘unworkable’ chief executive, Mark Wilson, means to quit if Prudential’s $35.5bn takeover is successful. 26 May 2010 15:38:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_df53ed86-bda3-447c-aa22-fd2a42ee0e87 http://www.barbicaninsurance.com/newsitem?newsitem=465231bd-9303-437b-8788-0621b2e6159b CEO, Richard Ward, has reported that the Chilean earthquake and Gulf of Mexico explosion will have limited impact on Lloyd’s capital--with no central fund exposure from these two events. 26 May 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_465231bd-9303-437b-8788-0621b2e6159b http://www.barbicaninsurance.com/newsitem?newsitem=4e0cde89-cfeb-456d-9b4b-baa4d0ace679 Insurance companies have notched up a total of $5 billion in sold policies associated with the World Cup in South Africa this summer. 19 May 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_4e0cde89-cfeb-456d-9b4b-baa4d0ace679 http://www.barbicaninsurance.com/newsitem?newsitem=4b8a0bdd-413b-4c09-b3a6-b4767f6b8135 Richard Ward, Lloyd’s supremo, claims that if another major disaster hits it the insurance industry could go into the red this year. 19 May 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_4b8a0bdd-413b-4c09-b3a6-b4767f6b8135 http://www.barbicaninsurance.com/newsitem?newsitem=2a79840b-2ad8-47e7-a4b6-e9fbde6e7869 On May 10, Barbican opened the doors at its new premises, 33 Gracechurch Street. The company's progress since its launch in 2007 has seen it outgrow the start-up premises at no.1 Cornhill. 10 May 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_2a79840b-2ad8-47e7-a4b6-e9fbde6e7869 http://www.barbicaninsurance.com/newsitem?newsitem=e634c0e8-abfe-46cd-9e3e-0a036ea26a1a Swiss company, Transocean, owner of the Gulf of Mexico oil-rig contracted by BP, has posted official warning of some major repercussions from the disaster of 20th April. 10 May 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_e634c0e8-abfe-46cd-9e3e-0a036ea26a1a http://www.barbicaninsurance.com/newsitem?newsitem=221544c9-4d4f-4cb4-a7c5-537ff53ba295 The Gulf of Mexico oil disaster has hit Catlin hard. The Lloyd’s of London insurer reported that their own liabilities are likely to reach the $40million mark. 10 May 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_221544c9-4d4f-4cb4-a7c5-537ff53ba295 http://www.barbicaninsurance.com/newsitem?newsitem=c3ab2a02-f170-4bdd-95a8-361d03ae1192 In the US, CRC Insurance Services are reported to have suffered a mass exodus of some 200 employees joining start-up operation, Ryan Specialty. 10 May 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_c3ab2a02-f170-4bdd-95a8-361d03ae1192 http://www.barbicaninsurance.com/newsitem?newsitem=8f72e572-76e7-4a92-bba4-1196dd7b0a6f Recent talks between the Pru and the FSA have pointed to a new way forward after the £14bn rights issue was rejected. 11 May 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_8f72e572-76e7-4a92-bba4-1196dd7b0a6f http://www.barbicaninsurance.com/newsitem?newsitem=e750ae88-9d2a-4c5b-80bd-2a3690de2b5f Despite all its debts, AIG new chief, Robert Benmosche, has reassured shareholders the company can pay back all its obligations and still continue in profit. 14 May 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_e750ae88-9d2a-4c5b-80bd-2a3690de2b5f http://www.barbicaninsurance.com/newsitem?newsitem=73bdaa57-d9f1-4527-b9b1-f5bf3c73d031 The UK Listing Authority, part of the FSA, has been approached by Brit Insurance to look into the leaking of news of a £785m takeover bid from Apollo, the US private equity group. 18 June 2010 00:00:00 60 Nigel Murch http://www.barbicaninsurance.com_newsitem_73bdaa57-d9f1-4527-b9b1-f5bf3c73d031