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Silicon Valley exec Joe Hurd joins Lloyd’s Council
11th January 2023
Lloyd’s, the world’s leading marketplace for commercial, corporate and specialty risk solutions, welcomes Joe Hurd to the Council of Lloyd’s. He will replace John Sununu, who will be stepping away from the Council in May 2023 to focus on his new role as Non-Executive Chair, Lloyd’s Americas, where will be replacing ... Read the full article
Helios reports 39% increase in retained capacity
10th January 2023
Helios, the investment vehicle that acquires and consolidates underwriting capacity at Lloyds', has announced a 39% increase in its retained capacity for 2023. The company’s overall portfolio, including its capacity reinsured, increased to £296.6 million, adding more than 27% to the size of the portfolio since the 1st January 2022. This includes an increase in ... Read the full article
Cyber may be the most “underwrite-able line of business”: Ladeau, Trium Cyber
5th January 2023
In an interview with Reinsurance News, Josh Ladeau, Chief Executive Officer of Trium Cyber, syndicate 1322, explains what differentiates the firm from other underwriters of cyber risk. After gaining approval in November of last year, Trium Cyber is the first Lloyd’s-approved service company to provide coverage for US-domiciled cyber risks, ... Read the full article
Trium Cyber Syndicate 1322 begins to provide coverage
3rd January 2023
Trium Cyber has announced its US-based service company has begun to provide cyber and technology errors & omissions coverage for US-domiciled risks. Writing on behalf of Lloyd’s Syndicate 1322, the company is backed by Pelican Ventures and third-party capital providers like Asta, the leading third-party managing agent at Lloyd’s. In November ... Read the full article
Atrium Underwriters exits Marine Reinsurance
23rd December 2022
Atrium Underwriters Limited, the MGA for Lloyd’s Syndicate 609, has announced that it has come to the decision, together with the Marine Reinsurance Underwriter, that it will exit the Marine XL Reinsurance book of business. The exit will come into effect as of January 1, 2023. In a press release, it stated ... Read the full article
Insurance rates to stay flat for Ukraine grain cargo shipments
22nd December 2022
Rates will not increase for Ukraine grain cargo insurance as the ‘AsOne’ Black Sea facility - which provides cover for shipments via Ukraine's grain export corridor - is to continue next year, Chris McGill, Ascot's head of cargo, told Reuters. Twenty-one insurers are part of the cargo insurance facility, led ... Read the full article
Wakam’s Syndicate 1347 receives Lloyd’s approval
20th December 2022
European B2B2C insurer Wakam, has announced that Wakam’s Syndicate 1347 has received Lloyd’s approval to start underwriting for the 2023 year of account. The syndicate was launched under Lloyd’s Syndicate in a Box (SIAB) initiative and will operate on the Lloyd’s platform. It will be managed by Polo Managing Agency (PMA), ... Read the full article
Sompo International completes sale of EAL business to RiverStone
20th December 2022
Insurance giant Sompo International has completed the sale of its run-off business Endurance at Lloyd’s (EAL) to RiverStone Holdings. The firm said in a statement that it had received regulatory approval from the UK Presidential Regulation Authority, following its previously communicated strategic objective to consolidate its UK presence into one company ... Read the full article
AXA XL names Claudia Ingenhoven as CFO, Reinsurance
19th December 2022
AXA XL Reinsurance has announced the appointment of Claudia Ingenhoven as Chief Financial Officer, Reinsurance, effective 13 February 2023. Ingenhoven has extensive experience working within finance functions at a number of leading re/insurers. These former executive positions include CEO of Glacier Reinsurance (Catalina) and CFO of iptiQ EMEA P&C (Swiss Re). Ingenhoven has ... Read the full article
Evertas closes $14mn Series A round
14th December 2022
Crypto insurance company Evertas has announced the successful closure of a series A financing round. Led by Polychain Capital, the round raised $14 million, and in addition to a $5.8 million seed financing, this puts the company’s total outside investment at $19.8 million. In a press release, Evertas noted that it intends ... Read the full article
Lloyd’s Council grants approval to Lime Syndicate Management
13th December 2022
Lloyd’s Council has granted ‘in principle’ approval to Lime Syndicate Management to be the first managing agency in Lloyd’s since Reconstruction & Renewal over 25 years ago, established solely to provide management services for third-party syndicates. A statement from Lime SM said that its technology solution JUICE provides a cost-effective, legacy-free ... Read the full article
Lloyd’s has headroom to sensibly grow catastrophe book: Tiernan
7th December 2022
The Lloyd's insurance and reinsurance market has "headroom" to grow its catastrophe book of business sensibly in the hardening market, according to Chief of Markets Patrick Tiernan. Tiernan was speaking this morning during his delivery of a Q4 message to the market and explained that despite plans being submitted for the ... Read the full article
All London market tech partners now support Blueprint Two solutions: Lloyd’s
6th December 2022
The specialist Lloyd’s insurance and reinsurance marketplace has confirmed that all London market technology vendors that interact with the existing central services have pledged their intent to introduce changes to their platforms to accommodate the new Blueprint Two solutions for the London insurance market. According to Lloyd's, Blueprint Two will digitalise ... Read the full article
Loss of biodiversity seen to impact industry less than other risks: Geneva Association
5th December 2022
A loss of nature and biodiversity is perceived as less of a risk in terms of its impact to the re/insurance industry than other factors within the next five years, says a new report from The Geneva Association. The organisation said that it had spoken with twenty-five firms within the industry ... Read the full article
Acrisure appoints Boyd as active underwriter for Flux Syndicate at Lloyd’s
30th November 2022
Global insurance broker and fintech platform, Acrisure, has appointed Richard Boyd as active underwriter for Flux Syndicate at Lloyd's. Boyd joins Acrisure from Allianz Risk Transfer (ART), having begun his career there in London in 2005, and moving to ART Bermuda in 2008. Boyd subsequently became head of insurance-linked markets at the ... Read the full article