Reinsurance News
Lloyd’s Market Association
Lloyd’s faces pressure to focus on U.S business
14th January 2019
Andrew Brooks, incoming Chair of the Lloyd’s Market Association (LMA), has urged Lloyd's of London to refocus its growth strategy away from emerging markets and towards the U.S, according to reports from the Financial Times. Lloyd’s has concentrated on winning new business over the past few years by opening offices in ... Read the full article
Lloyd’s Market Association launches new claims expert platform
29th November 2018
The Lloyd’s Market Association (LMA) has launched its new claims expert management solution and platform for Lloyd’s carriers this week, called Gemini. The platform was developed by the LMA in partnership with Advent Insurance Management Limited, and will be driven by claims professionals from the Lloyd’s market. Gemini will offer Lloyd’s carriers ... Read the full article
Brit’s Mark Allan appointed Chairman of the LMA’s FinComm
13th November 2018
FinComm, the Lloyd's Market Association's Finance Committee, has announced the appointment of Mark Allan as Chairman. FinComm leads on financial issues and requirements that impact Lloyd's of London managing agents and syndicates, and also monitors key financial topics and their expected impact. At the same time, FinComm liaises with Lloyd's senior management ... Read the full article
Ascot Underwriting CEO Brooks announced as next Chairman of the LMA
11th October 2018
The Lloyd's Market Association (LMA) has announced that the Chief Executive Officer (CEO) of Ascot Underwriting Ltd., Andrew Brooks, has been named as the next Chairman of the LMA, effective January 1st, 2019. Brooks has been a member of the LMA Board since 2012, and succeeds Neil Maidment, who is to ... Read the full article
Lloyd’s managing agents enjoy InsurTech advantages, analysts find
21st September 2018
Lloyd’s managing agents hold significant advantages in the technology ‘arms race’ due to their ability to quickly deploy supplier InsurTechs and take distribution platforms global, according to a new study undertaken for the Lloyd’s Market Association (LMA) by management consultancy Oxbow Partners. Analysts noted that Lloyd’s managing agents are generally more ... Read the full article
Lloyd’s releases policy documentation for post-Brexit Brussels subsidiary
19th September 2018
Lloyd’s has published a new suite of policy documentation to support the underwriting of risks from the European Economic Area (EEA) by its new post-Brexit subsidiary, Lloyd’s Brussels, which is due to commence business on 1 January 2019. The new documents were prepared by the Lloyd's Market Association’s (LMA) wordings team, ... Read the full article
New professional body launched by the LMA’s Joint Rig Committee
5th September 2018
The London Market Association’s Joint Rig Committee (JRC) is to launch The Society of Offshore Marine Warranty Surveyors (SOMWS), a non-profit professional body with a variety of objectives across the field, on September 18. SOMWS is to initially focus on upstream construction projects but will expand to include mobile offshore drilling ... Read the full article
LMA selects Sheila Cameron to succeed David Gittings as CEO
28th August 2018
The Lloyd’s Market Association (LMA) has announced that the current Head of International Operations at Navigators Underwriting, Sheila Cameron, is to succeed David Gittings as its Chief Executive Officer (CEO), who departs the role after 12 years. “David has worked successfully over many years to ensure that the interests of market ... Read the full article
Lloyd’s agencies back alternative capital expansion: LMA survey
16th August 2018
An overwhelming majority of Lloyd’s managing agents support the continued use of alternative capital in the re/insurance market and believe that insurance-linked securities (ILS) transactions will expand beyond natural catastrophe risks, according to a survey by the Lloyd’s Market Association (LMA). The LMA’s poll of senior executives from 25 managing agencies ... Read the full article
Lloyd’s market needs ‘radical change’, says LMA head Gittings
13th July 2018
David Gittings, Chief Executive of the Lloyd’s Market Association (LMA), has called for a “thorough review” of how the re/insurance market at Lloyd’s operates, according to the Financial Times (FT). Gittings told the publication: “I don’t believe Lloyd’s is facing an existential crisis but it needs a thorough review of what ... Read the full article
Modernisation and Brexit among top COO concerns, reports LMA
27th June 2018
Market modernisation, Brexit preparations, and underwriting systems upgrades are the three most pressing concerns for Lloyd’s market Chief Operating Officers (COOs) in 2018, according to a recent survey by the Lloyd’s Market Association (LMA). The LMA’s research found that, within market modernisation initiatives, COO’s prioritised delegated authority transformation, with 93% of ... Read the full article
LMA Personal Accident Commitee appoints Stephan Ranzetta & Paul De Vido
22nd June 2018
Lloyd’s Market Association (LMA) has announced that Stephen Ranzetta and Paul De Vido have been elected to its Personal Accident Commitee, following a recent ballot at Lloyd’s. Da Vido is a senior class underwriter, A&H at XL Catlin while Ranzetta serves as class underwriter, A&H at Vibe Syndicate Management. The pair ... Read the full article
LMA announces new and re-elected Board members
6th April 2018
The Lloyd's Market Association (LMA) has elected four candidates to its Board as members, as well as confirming that the Chief Underwriting Officer (CUO) of Beazley, Neil Maidment, will remain as Chairman of the LMA. Following the recent nomination process and effective from the AGM on May 31st, 2018, the LMA ... Read the full article
Beazley’s Dirk Froese elected to LMA Aviation Committee
29th March 2018
A recent Lloyd’s ballot has elected Dirk Froese, Head of Aviation at Beazley, to the Lloyd’s Market Association’s (LMA) Aviation Committee for a term of four years. Froese will join re-elected committee members Peter Wakefield, Head of Aviation at Chaucer, and Christopher Collins, Head of Aviation at Talbot, in providing a ... Read the full article
Lloyd’s Chairman Carnegie-Brown highlights shift towards risk-based oversight
22nd March 2018
In an annual investor call last year, Lloyd's Chief Executive Officer (CEO), Inga Beale, reiterated Lloyd's efforts towards making market oversight increasingly risk based as well as a new approach adopted by account managers in which portfolio assessment identifies worse performing portfolios and syndicates. Now in a recent letter to the ... Read the full article
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