Reinsurance News
Lloyd’s Market Association
Lloyd’s continued to deliver in 2024 despite major claims activity: ICMR, LMA
8th April 2025
Despite major claims activity in 2024, including two US hurricanes, Lloyd’s continued to deliver highly favourable returns to investors, with profits just shy of the previous year's record, driven by favourable trading conditions and a return to more normal investment valuations. These findings come from the second annual report by ... Read the full article
New tariffs raise risk for insurers amid market volatility: LMA
4th April 2025
Elizabeth Wooliston, Underwriting Director at the Lloyd’s Market Association, has noted that the tariffs recently imposed by U.S. President Donald Trump could have significant implications for insurers, including potential supply chain adjustments and shifts in overall profitability. Wooliston noted that the effects on insurers will vary, as increased uncertainty and market ... Read the full article
LMA to increase focus on North American market in 2025: CEO Sheila Cameron
15th January 2025
Sheila Cameron, CEO of the Lloyd’s Market Association (LMA), has announced that the organisation will focus more on the North American market. Cameron highlighted that North America has long been crucial to the premium volumes and profitability of the Lloyd’s market, with the US and Canada currently accounting for 58% of ... Read the full article
Joe Brace appointed LMA Operations Director
18th December 2024
The Lloyd’s Market Association (LMA) has appointed Joe Brace as Operations Director, where he will report to Sheila Cameron, Chief Executive Officer of the LMA. According to the announcement, Brace's appointment is effective Spring 2025. He will succeed Rob Myers, the current LMA Operations Director, who, after a career spanning more than ... Read the full article
Lloyd’s Market Association adopts new Chair appointment process
22nd October 2024
The Board of the Lloyd's Market Association (LMA) has announced it is adopting a new process for the appointment of a Chair, this includes a timing and procedural change. According to the announcement, following the recommendation of the LMA Nominations Committee, the LMA Board has agreed the new Chair is to ... Read the full article
LMA launches market-wide consultation on new CBAA model wording
16th September 2024
The Lloyd's Market Association (LMA) has launched a market-wide consultation on the new Computable Binding Authority Agreement (CBAA) model wording, developed with support from Lloyd’s, LIIBA, MGAA, and the IUA. The draft CBAA model wording is the result of months of work by experts from the London delegated authority (DA) community ... Read the full article
LMA announces the appointment of four new Board members
24th June 2024
Four senior market leaders have been appointed to the Lloyd’s Market Association (LMA) Board: Richard Milner, Group Chief Executive Officer, Chaucer, Clare Constable, Chief Claims Officer, MS Amlin, John Fowle, Chief Executive Officer, Atrium and Adam Beatty, Chief Executive Officer, Nephila Syndicate. Made up of senior market practitioners and LMA leaders, ... Read the full article
LMA backs postponement of cutover date for Blueprint Two
21st June 2024
Sheila Cameron, CEO of the Lloyd's Market Association (LMA) has noted that it welcomes the decision by Velonetic, supported by Lloyd’s Council, to postpone again the cutover date for Blueprint Two, which was "taken in light of the reality that delays in testing have meant that it is no longer ... Read the full article
LMA revises marine insurance policy clauses
10th June 2024
The Lloyd’s Market Association (LMA), representing insurers and reinsurers in the London insurance market, has issued revised versions of the hull and cargo oil price cap clauses. These updates simplify the language to accommodate recent modifications in the oil price cap mechanism, adapting to changes in sanctions regulations. Arabella Ramage, Legal Director ... Read the full article
London re/insurance groups hopeful new UK gov will apply ‘lighter touch’ to regulation
23rd May 2024
Representatives from the Lloyd’s Market Association (LMA) and the London Market Group (LMG) have expressed their hopes that a new UK government continues to back the country’s financial services to support the Lloyd’s market's significance and continuous growth. The comments follow UK Prime Minister Rishi Sunak’s call for an early general election ... Read the full article
LMA unveils updated UK Consumer Wordings Guidance
1st May 2024
The Lloyd's Market Association (LMA) has launched its latest iteration of the UK Consumer Wordings Guidance. According to the announcement, this latest iteration is a comprehensive resource designed to aid LMA members in "effectively and clearly communicating insurance concepts to consumers." From what we understand, the updated guidance reflects recent regulatory changes, ... Read the full article
Exceptional Lloyd’s 2023 results demonstrate resilience of the market: ICMR, LMA
15th April 2024
Lloyd's exceptional 2023 results demonstrate the resilience of the market as we heads into uncertain times, according to a joint report from the Lloyd’s Market Association (LMA) and Insurance Capital Markets Research (ICMR). If you recall, in late March, the global insurance and reinsurance marketplace posted a solid set of ... Read the full article
Lloyd’s and BMA spark initiative to drive innovation and education access
14th March 2024
The Lloyd’s insurance and reinsurance market and the Bermuda Monetary Authority (BMA) have committed to developing an initiative that will reportedly drive closer collaboration and alignment on sharing risk expertise between the two major (re)insurance hubs. Lloyd's stated that the focus of this initiative will be on fostering innovation through the ... 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
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
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