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Lloyd’s of London news

Lloyd’s of London insurance and reinsurance market news, covering the happenings at the world’s oldest reinsurance market housed in the iconic Lloyd’s building in the City of London.

Lloyd’s must adapt and innovate to remain relevant in the future: Carnegie-Brown

6th December 2018

The Chairman of the Lloyd's of London specialist insurance and reinsurance marketplace, Bruce Carnegie-Brown, has called on the marketplace to innovate in order to improve relevance to customers in the rapidly evolving risk transfer space. Delivering a key note speech at the Lloyd's building yesterday on Lime Street, London, Carnegie-Brown said ... Read the full article

LMG urges progress on post-Brexit equivalence for insurers, brokers

6th December 2018

The London Market Group has underscored changes it believes must be made to the European Union equivalence regime ahead of “one of the most critical decisions in a generation” taking place in the House of Commons. MPs are due to vote on the Government’s Withdrawal Agreement and the Political Declaration on ... Read the full article

Lloyd’s Lab commences new global search for InsurTech talent

4th December 2018

Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market in September, has commenced a new global search for its latest cohort of InsurTech talent. The program is hoping to attract entrepreneurs and start-ups that are capable of developing technology driven products, platforms and processes to help overcome the challenges ... Read the full article

Risk Cooperative reshuffles executive team

29th November 2018

Risk Cooperative, a risk and insurance advisory firm and coverholder at Lloyd’s, has announced a series of key executive appointments and governance changes as it looks to accelerate growth. Andres Franzetti, one of Risk Cooperative’s co-founders and former Head of Strategy, has been named as President and Chief Operating Officer with ... 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

New Lloyd’s broker Marken Re announces launch

29th November 2018

Marken Re Specialty Limited, a newly formed specialty re/insurance broker that will operate from Lloyd’s of London, has been launched by the company’s founders Pieter Vlasbloem and Nathan Parke. "Our goal is to enhance the development of our clients by providing them with the most reliable and optimal (re)insurance solutions, with ... Read the full article

Lloyd’s appoints Christian Noyer to Council and Brussels Board

26th November 2018

Lloyd’s has announced that French economist Christian Noyer has been appointed as Non-Executive Director of Lloyd’s Council and as Non-Executive Director of the Lloyd’s Brussels Board, effective from 2 November. Noyer served as the Governor of the Bank of France from 2003 to 2015, and has since held the position of ... Read the full article

Lloyd’s announces departure of COO Shirine Khoury-Haq

21st November 2018

Lloyd’s of London Chief Operating Officer, Shirine Khoury-Haq, is to depart after nearly five years at the organisation. Khoury-Haq has been the driving force behind Lloyd's recent digital integration efforts, which included the introduction of its Target Operating Model (TOM). By better utilising data and technology, and by implementing TOM, Lloyd’s is ... Read the full article

IoT to spur re/insurance innovation, amplify risk: Lloyd’s

21st November 2018

The rise of the Internet of Things (IoT) is set to revolutionise the capabilities of re/insurers while simultaneously ushering in a new age of increased complexity and amplified risk, according to new research by Lloyd’s. IoT will lead to data capture and management at an unprecedented scale, according to the report. This ... Read the full article

PPL adoption gains momentum over Q3, reports Board

20th November 2018

The Board of Placing Platform Limited (PPL) has released market wide data for risks placed electronically during the third quarter of 2018, which shows a steady increase in the proportion of syndicates adopting PPL. The data shows that take-up exceeded the Q3 target of having 20% of in scope risks placed ... Read the full article

Cost of doing business is unsustainable at Lloyd’s: Carnegie-Brown

16th November 2018

The cost of doing business at the specialist Lloyd's of London insurance and reinsurance marketplace isn't a sustainable proposition, and if the market wants to grow and remain relevant to its customers, costs need to come down, according to the Lloyd's Chairman, Bruce Carnegie-Brown. "We have to do a better job, ... Read the full article

Theresa May’s Brexit plan draws mixed reaction, market access still a concern

15th November 2018

Theresa May’s draft EU withdrawal agreement has drawn a mixed reaction from players in the broking and insurance sectors, with the matter of equivalence continuing to stir uncertainty and perpetuate passporting concerns for intermediaries. Christopher Croft, Chief Executive Officer of LIIBA said today in a statement that, while it is encouraging ... Read the full article

Lloyd’s “absolutely” wants to grow into the future: Carnegie-Brown

14th November 2018

Chasing loss making business out of the specialist Lloyd’s of London insurance and reinsurance marketplace might be tough and lead to pain for some, but it is “absolutely right” that the market becomes sustainably competitive for the future, according to Lloyd’s Chairman, Bruce Carnegie-Brown. Addressing an audience today in the Old ... Read the full article

Beazley’s Neil Maidment to join Lloyd’s Board in 2019

8th November 2018

Beazley's Neil Maidment has been appointed as an independent non-executive director of the Lloyd's Board for an initial three-year term, effective February 2019. The new appointment will be effective once Maidment's term of office on the Council of Lloyd's comes to an end on January 31st 2019. He is set to ... Read the full article

Barbican to increase Lloyd’s capacity in some lines, but withdraw from others

8th November 2018

Barbican Insurance Group's 2019 business plan for its Lloyd's of London syndicate Barbican 1955 has been approved, but the firm will deploy more capacity into some specialty lines, while withdrawing completely from other areas of business. Barbican said that Syndicate 1955 will focus on its core markets, with an increased focus ... Read the full article

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