week commencing 02/09/18:

The City came back to life this week after the annual summer office exodus. Luther Towers celebrated having all team members in the country with a catch-up conference call, but it might have been our last if the week’s final story takes root. Read on for this and our picks of the latest industry news.

New frontrunner emerges for Lloyd’s CEO
John Neal, the former head of Australia-based insurer QBE, is reportedly poised to succeed Inga Beale as CEO of Lloyd’s of London. External-link [Financial Times]

Markel to buy Nephila
Markel’s expansion into the primary insurance markets was given a boost this week when it announced a deal to acquire 100% of Nephila. External-link [Insurance Insider]

Comment: Brexit contract continuity issue is not lost on Europe
The conversation surrounding continuity for cross-border contracts post-Brexit has been anxiety-inducing at times, but welcome signs of common sense may finally be emerging. Lorenzo Spoerry discusses the issue. External-link [Insurance Day]

Cannabis insurance comes to Canada
Lloyd’s of London has given the ok to its underwriters to offer cover to producers, distributers and vendors of cannabis in Canada. External-link [Financial Times]

Could wildfires cause reinsurers to re-think?
Burning questions are being asked in the re/insurance market in response to the increasingly significant losses caused by Californian wildfires. External-link [Insurance Day]

SCOR rejects takeover
French reinsurer SCOR has rejected Covea’s €8.3 billion merger offer, which would have seen it transfer a majority stake and voting rights. External-link [Reactions]

Cats and rating pressure takes toll on Bermudian reinsurers
The changing market landscape has caused the country’s reinsurers to rethink their strategies, with varying degrees of success. External-link [Insurance Day]

Comment: is there value beyond the blockchain hype?
Cryptocurrencies and blockchain are riding a wave of hype as the digital world progresses further every day. Willis’ Magda Ramada takes a closer look at the value the technology could provide for insurers. External-link [Insurance Day]

Slamming the phone down on conference calls
Michael Skapinker gives voice to what we all think every time that invitation arrives in our inboxes: it’s time to end conference calls. External-link [Financial Times]


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