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BIBA partners with specialist re/insurance marketplace Lloyd’s
13th April 2023
The British Insurance Brokers’ Association (BIBA) has partnered with specialist insurance and reinsurance marketplace Lloyd’s. BIBA said many of its members and Lloyd’s have always worked closely together and it was pleased to welcome Lloyd’s on board as an official partner. "We will continue to work with Lloyd’s on issues relevant to ... Read the full article
Lloyd’s partners with Schroders on launch of Private Impact Fund with £250m initial allocation
12th April 2023
The world's oldest insurance and reinsurance marketplace, Lloyd's, has launched the Lloyd's Private Impact Fund on its market investment platform, and appointed Schroders Capital, the specialist private assets investment arm of Schroders, as its Portfolio Manager. This new fund, which launches with a £250 million initial allocation for sustainably-focused assets, will ... Read the full article
D&F startup Aspect Labs launches, backed by Everest Re & AmTrust
12th April 2023
Aspect Labs has emerged from stealth mode and fully launched with backing from Everest Re and AmTrust, with a focus on writing hard to place small to mid-market property re/insurance across the UK and Europe. The startup will initially begin in the direct and facultative small to mid-market property arena in ... Read the full article
LMA announces membership of Chief Underwriting Officer Committee
6th April 2023
The Lloyd’s Market Association (LMA) has announced the membership of its newly formed Chief Underwriting Officer Committee (CUOC), naming Nicola Stacey, Chief Underwriting Officer at Chaucer, as Chair. LMA states that the CUOC will comprise 15 members from a broad cross-section of the Lloyd’s Underwriting market. "The members have been selected by ... Read the full article
Lloyd’s FCP solution now covers over 70% of delegated business
4th April 2023
Insurance and reinsurance marketplace Lloyd’s of London said it made "significant progress" against its Blueprint Two goals in first-quarter 2023 in market adoption of the Faster Claims Payment (FCP) solution, which now covers over 70% of delegated business. Lloyd’s said that work has been completed to define the delegated authority data ... Read the full article
Emma Loynes to become CEO of Lloyd’s Asia
3rd April 2023
Emma Loynes has been named as the new Country Manager for Lloyd's in Singapore and will also become Chief Executive Officer (CEO) of Lloyd's Asia, effective May 1st, subject to regulatory approval. Loynes takes over as CEO of Lloyd's Asia from Mark Dyson, who has held the role on an ... Read the full article
Lloyd’s Lab reveals insurtechs for Europe-focused cohort
29th March 2023
Re/insurance marketplace Lloyd’s has announced the 13 insurtech firms set to join the 10th cohort of its innovation hub, the Lloyd’s Lab, which will include a focus on the European market this time around. For this cohort, the insurtechs were selected based on solutions geared towards three themes: European Digital and ... Read the full article
MS Amlin hires Jessica Turner from Guy Carpenter as new Head of Risk Analytics
27th March 2023
MS Amlin, Lloyd’s global re/insurer has announced the appointment of Dr Jessica Turner as Head of Risk Analytics who will take on this position effective 26 June 2023. Dr Turner will report to Martin Burke, the Director of Underwriting Performance. Commenting on the appointment, Burke said, “As we look to navigate the ... Read the full article
Global insurance spending likely to double in the next decade, says Lloyd’s Neal
23rd March 2023
Speaking to the Financial Times (FT), John Neal, Lloyd's CEO, suggested the increase in global insurance spending over the next decade is to be driven by a greater perception of risks such as bank failures and climate change. According to FT, Neal noted that financial risks like bank failures as well ... Read the full article
Lloyd’s reports £2.6bn underwriting profit but investment loss dents full year result
23rd March 2023
Lloyd's, the specialist insurance and reinsurance marketplace, has today announced an improved underwriting profit of £2.6 billion in its 2022 full year results, although a net investment loss of £3.1 billion resulted in an overall loss before tax of £800 million. After numerous years of performance improvement, the Lloyd's market's underwriting ... Read the full article
LMA announces Claims Committee election results
23rd March 2023
The Lloyd’s Market Association (LMA) has announced the results of the LMA Claims Committee (LMACC) elections. The LMACC ballot for five elective membership positions closed at the end of February. Two members of the LMACC who stood for a second term were both re-elected: Nick Doyle from The Hartford, and Steve Yeo ... Read the full article
Consilium builds out Delegated Risk Solutions division
20th March 2023
Consilium, the globally specialty re/insurance broking business of the Aventum Group, has added Toby Gorman and Matt Taylor as partner and associate partner, respectively, to the company’s delegated risk solutions division. Both of these appointments come with strong connections in Lloyds and other markets, in addition to strong relationships in the ... Read the full article
Bob James named COO at Lloyd’s
14th March 2023
Specialist insurance and reinsurance marketplace Lloyd’s has announced a number of changes to its Executive Committee, including the appointment of Bob James as Chief Operations Officer (COO). Previously Lloyd’s Market Transformation Director, James will now focus on aligning the Blueprint Two programme with the wider Corporation Operations function. Meanwhile, Burkhard Keese, Read the full article
Lloyd’s has a duty to lead in cyber: Patrick Tiernan
13th March 2023
Patrick Tiernan, Chief of Markets at Lloyd’s, says the insurance and reinsurance marketplace has a duty to provide leadership in the cyber market and ensure sustainable underwriting practices. With the cyber market set to continue it’s rapid growth, it is “encumbent on Lloyd’s to be a leader in this space,” Tiernan ... Read the full article
Lloyd’s to continue profitable underwriting momentum, says S&P
9th March 2023
Analysts at S&P Global Ratings anticipate that Lloyd's will continue its profitable underwriting momentum in 2023. The analysts note that Lloyd's strong year-end 2022 underwriting results reflect its focus on underwriting controls and positive price increases. Lloyd's reported a net combined ratio of 91.9% for 2022, compared to 93.5% in 2021, which ... Read the full article