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.
12th April 2021
Lloyd’s of London has announced the departure of Sonja Rottiers from her role as European Chief Executive Officer, with Amélie Breitburd set to step into the position. Breitburd brings over 25 years’ experience in international insurance markets, having previously served at AXA, KPMG and Allianz. She'll be onboarded during the second quarter ... Read the full article
7th April 2021
According to the Lloyd's yearly market report, the 2020 casualty treaty market saw a number of pre-existing trends accelerate as the market faced issues such as diminishing capacity, tightening policy coverage and significant price strengthening in distressed and high exposure accounts across most lines of business. US Workers’ Compensation remained competitive, yet ... Read the full article
31st March 2021
A majority of London Market insurers are reported by Fitch Ratings to have fallen to either a loss or a very slight profit in 2020, as pandemic-related costs offset most underwriting and investment profits. Despite investment returns having recovered well in the second half of 2020, Fitch states that returns were ... Read the full article
30th March 2021
Despite the ongoing and uncertain impacts of the COVID-19 pandemic, AM Best has assigned a stable outlook to the London re/insurance market segment owing to positive rate momentum, greater clarity of policy wordings, and continuous efforts to modernise the market. In recent years, London market insurers and reinsurers have experienced several ... Read the full article
23rd March 2021
A number of the world’s biggest players in re/insurance have committed additional funds to support the development of open source catastrophe modelling platform Oasis. Companies include Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, Lloyd’s, RenaissanceRe, Swiss Re, SCOR, Willis Re and the Insurance Development Forum. The supporting international re/insurers and brokers ... Read the full article
23rd March 2021
Lloyd’s has announced the launch of a new parametric earthquake insurance policy in New Zealand designed to automatically pay customers within five days following a strong earthquake. The product has been developed in partnership with insurance start-up Bounce and leverages cutting-edge technology and real-time GeoNet data to track Peak Ground Velocity ... Read the full article
11th March 2021
Lloyd’s has announced the first version of its Core Data Record (CDR), in an effort to standardise data flow through the market. The move is aimed at significantly improving operations, reducing the cost and effort of doing business, and delivering a better service to customers. This represents a new milestone for the ... Read the full article
5th March 2021
The Lloyd’s of London insurance and reinsurance marketplace has provided another update on its requirements for the use of electronic placements this year. For Q2 and Q3 of this year, syndicates will now have to adhere to an electronic response target of 60% when replying to submissions and quotes from brokers. Details ... Read the full article
1st March 2021
Lloyd's of London has confirmed the reopening of its underwriting room and corporation offices on May 17. The specialist re/insurance marketplace plans to apply a class of business rota during the week and will confirm further details closer to the date. Looking further ahead, there will be additional action over further relaxing ... Read the full article
22nd February 2021
Insurance and reinsurance marketplace Lloyd’s of London says that it has made “notable progress” towards building a more inclusive working environment over 2020. In particular, the results of its 2020 annual culture survey highlight improvements in the experience of women working in the Lloyd’s market over the past 18 months. However, the ... Read the full article
16th February 2021
Lloyd’s has partnered with cyber analytics specialist CyberCube and reinsurance broker Guy Carpenter on a new report examining the increasing risk posed by ‘Internet of Things’ devices to industrial and manufacturing businesses. The three firms conducted an analysis detailing scenarios which represent the most plausible routes by which a cyber-attack against ... Read the full article
8th February 2021
Insurance and reinsurance marketplace Lloyd’s of London has announced the launch of Futureset, a new platform and community designed to drive greater societal and economic resilience to some of the largest and most complex global risks. The platform will bring together different perspectives and foster cross-country dialogue to help communities, businesses ... Read the full article
3rd February 2021
Antares, the Lloyd’s specialist re/insurance subsidiary of QIC Global, has placed Syndicate 1274’s Lloyd’s China operation into run-off. Antares will cease accepting new/renewal business through the Lloyd’s China platform from March 1. Moving forward, Chinese business will be written out of Antares Singapore. Existing policies will continue to provide cover on existing terms ... Read the full article
29th January 2021
Speciality Lloyd’s (re)insurer MS Amlin Underwriting has announced the appointment of Vishal Desai as Chief Risk Officer and Catherine Scullion as Chief Actuary. Desai reports to the company's Chief Executive Officer Johan Slabbert and brings over 18 years’ of general insurance industry experience. He joins in May from the Bank of England ... Read the full article
22nd January 2021
The specialist Lloyd's of London insurance and reinsurance marketplace has appointed Aviva's Patrick Tiernan to the newly created role of Chief of Markets, which will see him take oversight of market performance and distribution. Tiernan joins the market from Aviva where he currently serves as Managing Director, UK Commercial Lines & ... Read the full article
