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Amwins, Costero and Consilium among first brokers to adopt new market reform contract MRC v3
6th December 2023
Amwins, Aon, BMS Group, Gallagher, Howden, Consilium and Costero have started using the new market reform contract (MRC v3) marking the first step to the full adoption of Blueprint Two. The two-year program builds on the foundations laid by Blueprint One in September 2019 and focuses on shifting the market ... Read the full article
Argenta and Helios partner to provide investors unique access to Lloyd’s market
5th December 2023
FCA-regulated adviser to Lloyd’s investors, Argenta Private Capital Limited (APCL), has partnered with Helios Underwriting to provide investors with a "unique way to access the Lloyd’s of London market." APCL explained that this exclusive arrangement with Helios will enable its clients to participate in a portfolio of syndicates, curated by Helios’ ... Read the full article
For cyber to grow at Lloyd’s we must manage our potential risks: Patrick Tiernan
4th December 2023
Speaking at Lloyd's Q4 2023 Market Message, Patrick Tiernan, Chief of Markets, explained that cyber underwriting will remain a key clear focus class of growth for 2024. Tiernan stated that for 2024, plan GDP growth is shy of 20%, which remains on par with the growth that Lloyd's witnessed in 2023. He ... Read the full article
Rokstone launches contingency account in UK and Europe
30th November 2023
Rokstone, an international speciality re/Insurance MGA, part of the Aventum Group, has launched a new Contingency Portfolio as demand for the product grows. With exclusive backing from A rated carriers, Rokstone’s new contingency account will be initially launched in the UK and Europe with plans to expand in other regions including ... Read the full article
Phoenix Group appoints Lloyd’s CIO Eleanor Bucks as Board member
24th November 2023
The Phoenix Group Holdings plc, a major UK life and retirement, risk transfer and savings company, has appointed Eleanor Bucks as an independent Non-Executive Director. The appointment is effective starting 1st December 2023. Alastair Barbour, Chair of Phoenix Group, commented on the appointment, "We are delighted that Eleanor has agreed to join ... Read the full article
Redline Underwriting adopts Moody’s RMS Risk Modeler application on the IRP platform
22nd November 2023
Redline Underwriting, a Lloyd’s coverholder specialty underwriting firm, has adopted Moody's RMS' Risk Modeler application on the Moody's RMS Intelligent Risk Platform (IRP). This comes as Redline Underwriting enters into a long-term agreement with the leading risk modeling and solutions company. By being able to use the Risk Modeler, this will ... Read the full article
Liu Song becomes Treaty Director of Volante Global’s Singapore branch
20th November 2023
Liu Song has been appointed to the role of Treaty Director of Volante Global's Singapore unit, where he will have a focus on treaty reinsurance underwriting for the company. Song's appointment was announced by Amy Fu, the MD of the Volante Global Singapore office. Volante Singapore is a multi-class, multi-territory international MGA ... Read the full article
LMA & LIIBA team up to lead digital transformation in Delegated Authority business
16th November 2023
The Lloyd's Market Association (LMA) has joined forces with the London and International Insurance Brokers' Association (LIIBA) in an effort to lead digital transformation in Delegated Authority (DA) business with the introduction of computable contracts. Launched in late 2020, Project DARE mostly focuses on putting distribution partners and customers at ... Read the full article
Lloyd’s to remain at One Lime Street until 2041: Sky News
16th November 2023
The specialist Lloyd's of London insurance and reinsurance marketplace has signed a deal with Ping An to remain at its iconic headquarters until 2041, according to a Sky News report. Sky News claims that after more than a year of negotiating, a long-term deal is closed to being agreed with the ... Read the full article
Lloyd’s confirms changes to Council membership following elections
27th October 2023
London-based marketplace for insurance and reinsurance, Lloyd’s, has announced its most recent changes to its Council membership; all the new terms will commence on 1 December 2023. Sean McGovern was elected unopposed as a “Corporate-External” member of the Council, among other appointments; and Marcus Johnson as “Individual-External” member of the Council. Following ... Read the full article
Aon & IFRC DREF Insurance a vital mechanism for enhancing risk transfer: IFRC
26th October 2023
The Disaster Response Emergency Fund (DREF) Insurance mechanism, pioneered by International Federation of Red Cross and Red Crescent Societies (IFRC) in partnership with Aon, is a vital new approach for enhancing preparedness and risk transfer, IFRC Under Secretary General, Nena Stoiljkovic, highlighted. A recent London Summit brought together leaders and decision-makers ... Read the full article
Howden CAP appoints new Executive Director, Balance Sheet Advisory & Structuring
25th October 2023
Global insurance brokerage Howden has appointed Alan McNamara as Executive Director, Balance Sheet Advisory & Structuring for Howden CAP, its capital, advisory and placement business. McNamara will join Howden after the completion of contractual obligations to his present employer at the end of 2023. He will be based in Dublin and will ... Read the full article
Global economy exposed to $3.5trn loss from potential cyber attack: Lloyd’s
18th October 2023
London-based marketplace for insurance and reinsurance, Lloyd’s, has published a systemic risk scenario that shows the global economy is exposed to losses of $3.5 trillion over a five-year period from a cyber attack on a major financial services payments. The risk scenario models the global economic impact of a hypothetical but ... Read the full article
Oka granted in principle approval for Asta-managed SIAB 1922 by Lloyd’s
18th October 2023
Third-party managing agent at Lloyd’s, Asta, and Oka, the Carbon Insurance Company, has announced that the specialist insurance and reinsurance marketplace has granted ‘in principle’ approval for Oka syndicate-in-a-box (SIAB) 1922. Oka syndicate 1922 is targeting commencing underwriting in January 2024 and introduces an insurance solution to protect against buyer-side carbon ... Read the full article
Pro MGA appoints David Goodley as its new Head of Compliance
17th October 2023
Pro MGA Global Solutions, the independent managing general agent (MGA) incubation division of Pro Global Holdings Limited, has appointed David Goodley as its new Head of Compliance. Goodley holds extensive experience as a compliance professional, having established his own company, City Compliance, in 2012 which provides regulatory compliance services across the ... Read the full article