Reinsurance 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.
23rd November 2021
Insurance and reinsurance marketplace Lloyd's has announced the launch of a retail parametric cyclone insurance product in Northern Australia. The new solution, called Redicova, is supported by the Lloyd’s Disaster Risk Facility (DRF), an initiative designed to help build resilience by closing protection gaps around the world. The product is led by ... Read the full article
18th November 2021
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired a 2% shareholding in a holding company of a group of Limited Liability Vehicles (LLV). The company announced in August its intention to bulk up its capacity using high quality syndicates at the historic insurance and reinsurance marketplace. As a ... Read the full article
10th November 2021
Blenheim Underwriting has added Tamsin Plumptre and Ed Fox to its political risk underwriting team, as the firm looks to expand its presence in the sector. Plumptre joined on November 8 with over 17 years’ experience. She was most recently head of structured credit, political and security risks at the Canadian independent ... Read the full article
10th November 2021
Lloyd’s has announced the participation of the Ontario Teachers’ Pension Plan Board in the London Bridge Risk Protected Cell Company (PCC), providing initial capital in excess of £100 million with an expectation for that to grow over time. Ontario Teachers’ is the administrator of Canada's largest single-profession pension plan and has ... Read the full article
28th October 2021
Insurance and reinsurance marketplace Lloyd’s of London has announced plans to join the UN-convened Net Zero Insurance Alliance (NZIA), as part of a commitment to transition all of its operational and attributable greenhouse gas emissions to net-zero by 2050, at the latest. The move builds on Lloyd’s existing commitment to reduce ... Read the full article
15th October 2021
European P&C run-off group Marco Capital has been granted ‘in principle’ approval to launch a Reinsurance To Close (RITC)/run-off syndicate. Formal approval of the syndicate is subject to completion of a review phase by the Lloyd’s Council. The Council’s approval would allow Marco to participate in and quote on RITC and other ... Read the full article
12th October 2021
Specialty re/insurance group Chaucer has announced the addition of political risks and contract frustration to its Belt and Road Consortium at Lloyd’s solution. The consortium, which was launched in June 2021, provides large-scale capacity of up to $300 million to companies working on China’s Belt and Road Initiative. It combines Chaucer’s ... Read the full article
11th October 2021
Apollo Group Holdings Limited, the Lloyd's specialist insurance and reinsurance group that includes Apollo Syndicate Management Ltd, has announced a $90 million investment from British private equity firm Alchemy Partners. Apollo is the largest independent, management owned business in the Lloyd’s market, including its flagship Apollo Syndicate 1969 and the $90 ... Read the full article
7th October 2021
Lloyd’s Insurance Company (LIC) has today announced a series of leadership appointments within its UK branch, including the addition of Mark Cooper as its head. LIC is Lloyd’s Belgian subsidiary authorised to carry insurance and reinsurance business in the European Economic Area (EEA). Cooper's appointment is effective 1 November and will see him ... Read the full article
7th October 2021
Syndicate Research Limited has downgraded the B- (Below Average), negative outlook, Continuity Opinion of Lloyd's syndicate 1200 (Argo Managing Agency Limited) to C+ (Below Average) and placed the Continuity Opinion under review for possible downgrade. These actions are a result of mounting concerns regarding the group’s long-term commitment to the business. Syndicate ... Read the full article
29th September 2021
Oman Insurance Company (OIC) and Asta, the leading third-party managing agent at Lloyd’s, have been granted ‘in-principle’ approval from Lloyd’s to launch Syndicate 2880 under the Syndicate-in-a-Box initiative (SIAB). The syndicate will operate on the Lloyd’s platform under the Dubai International Financial Centre (DIFC). Dubai-based insurer OIC will provide lead and follow ... Read the full article
27th September 2021
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired three limited liability vehicles (LLVs) for an aggregate cash consideration of roughly £1.95 million, generating syndicate capacity of £2.39 million. The acquired LLVs, named Nameco (No 2011 & No 2012 and G.T.C. Underwriting, follows Helios' purchase of North Breache Underwriting, a ... Read the full article
23rd September 2021
Multi-class international MGA platform Volante Capital Holdings (Bermuda) has received ‘in-principle’ approval from Lloyd’s to launch Syndicate 1699 for the 2022 year of account, with initial stamp capacity of £130 million. Volante will be managed by Asta Managing Agency Ltd. The syndicate will bring business to Lloyd’s through Volante’s existing international ... Read the full article
21st September 2021
Over two thirds of Lloyd’s capacity is now available via the online re/insurance pricing and placing platform Tremor Technologies, a figure equating to $33 billion. Tremor says 33 Lloyd’s Syndicates representing over 70% of its Managing Agents have entered into agreements to offer coverage directly on its marketplace. The Syndicates are described ... Read the full article
16th September 2021
Dale Partners Limited, the holding company of Dale Underwriting Partners (DUP), has been granted approval by Lloyd’s to form its own managing agency. The new entity, Dale Managing Agency Limited, will now submit its regulatory business plan, seeking approval from the PRA and FCA during 2022. DUP, an independent, owner-managed underwriting business, ... Read the full article
