Lloyds of London reported a 30% drop of full-year profit as the worlds largest insurance market was hurt by continued pressure on pricing and the lowest investment returns since at least 2001.
Stakeholders who own millions of shares in Towers Watson & Co. are planning to vote against the firms $8.7 billion merger with Willis Group Holdings Plc if the terms of the transactions are not improved.
The waiting list for an insurer to get a spot on the underwriting floor of Lloyds of London is the longest in its 327-year history, indicating record demand for access to the market.
Lloyds of London Chairman John Nelson criticized the business community, saying companies are too focused on profit and are at risk of eroding the trust of the public and regulators.
RSA Insurance Group Plc Chief Executive Officer Stephen Hester said the company will attract bids from other suitors after Zurich Insurance Group AG abandoned its $8.7 billion offer for the British insurer.
The worlds largest reinsurers and brokers see little relief in pricing in 2016 amid a relentless influx of alternative capital from pension funds and one of the past decades quietest years for catastrophe losses.
DebugScreen: mobile
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"articles": [
{
"uri": "/2016/03/23/lloyds-of-london-takes-massive-hit-from-low-invest/",
"title": "Lloyd’s of London takes ‘massive hit’ from low investment return",
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"prettyDate": "March 23, 2016",
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"summary": "Lloyds of London reported a 30% drop of full-year profit as the worlds largest insurance market was hurt by continued pressure on pricing and the lowest investment returns since at least 2001.",
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{
"uri": "/2015/11/26/zurich-to-scale-back-middle-east-business-after-gl/",
"title": "Zurich to scale back Middle East business after global review",
"byline": "Sarah Jones, Bloomberg",
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"prettyDate": "November 26, 2015",
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"summary": "The decision to exit general insurance in the region follows a company-wide strategic review.",
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{
"uri": "/2015/11/18/berkshire-to-zurich-heres-what-insurers-lost-on-tianjin/",
"title": "Berkshire to Zurich, here’s what insurers lost on Tianjin",
"byline": "Sarah Jones, Bloomberg",
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"prettyDate": "November 18, 2015",
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"summary": "The port explosions at Tianjin is the fourth most costly man-made disaster ever for the industry, according to Swiss Re.",
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{
"uri": "/2015/11/09/zurich-plans-to-cut-440-jobs-at-its-u-k-non-life-business/",
"title": "Zurich plans to cut 440 jobs at its U.K. non-life business",
"byline": "Sarah Jones, Bloomberg, Jeffrey Vogeli, Bloomberg",
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"prettyDate": "November 09, 2015",
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"summary": "Zurich is also seeking to simplify its organizational structure.",
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},
{
"uri": "/2015/10/19/reinsurers-brace-for-double-digit-price-declines-a/",
"title": "Reinsurers brace for double-digit price declines amid M&A frenzy",
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"prettyDate": "October 19, 2015",
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"summary": "The worlds largest reinsurers are anticipating even bigger price declines when policies are renewed in 2016 than envisaged a month ago.",
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{
"uri": "/2015/10/09/towers-watson-shareholders-said-to-plan-no-vote-on-willis/",
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"summary": "Stakeholders who own millions of shares in Towers Watson & Co. are planning to vote against the firms $8.7 billion merger with Willis Group Holdings Plc if the terms of the transactions are not improved.",
"body": null
},
{
"uri": "/2015/10/08/insurers-squeezed-for-lloyds-seats-as-waiting-list/",
"title": "Insurers squeezed for Lloyd’s seats as waiting list hits record",
"byline": "Sarah Jones, Bloomberg",
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"prettyDate": "October 08, 2015",
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"summary": "The waiting list for an insurer to get a spot on the underwriting floor of Lloyds of London is the longest in its 327-year history, indicating record demand for access to the market.",
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},
{
"uri": "/2015/09/29/lloyds-faults-profit-hungry-corporations-over-trust-deficit/",
"title": "Lloyd’s faults profit-hungry corporations over ‘trust deficit'",
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"summary": "Lloyds of London Chairman John Nelson criticized the business community, saying companies are too focused on profit and are at risk of eroding the trust of the public and regulators.",
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{
"uri": "/2015/09/22/rsas-hester-says-more-bids-likely-after-zurich-scr/",
"title": "RSA's Hester says more bids likely after Zurich scraps takeover",
"byline": "Sarah Jones, Bloomberg",
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"prettyDate": "September 22, 2015",
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"summary": "RSA Insurance Group Plc Chief Executive Officer Stephen Hester said the company will attract bids from other suitors after Zurich Insurance Group AG abandoned its $8.7 billion offer for the British insurer.",
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},
{
"uri": "/2015/09/14/catastrophe-reinsurers-see-little-pricing-relief-in-2016/",
"title": "Catastrophe reinsurers see little pricing relief in 2016",
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"prettyDate": "September 14, 2015",
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