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.
17th June 2021
Lloyd's of London Chief Financial Officer (CFO) Burkhard Keese has explained that the primary motivation behind the £650 million reinsurance cover that Lloyd's has purchased for its Central Fund is to facilitate the rapid pace of growth that the market has achieved recently, and is continuing to target. In a press ... Read the full article
17th June 2021
The Lloyd's of London insurance and reinsurance market has taken out a £650 million cover from an investment bank and reinsurers to protect its Central Fund against significant loss events, according to a report from the FT. The Central Fund reinsurance, or perhaps retrocession, arrangement, will have a five-year term and ... Read the full article
28th May 2021
Lloyd’s of London investment and underwriting vehicle Helios has announced a £336,000 profit for 2020, down from the £2.4 million reported in 2019. Helios says profitability has been significantly impacted by poor underwriting conditions and by the impact of COVID-19 losses. In its wake, the expectation of improved underwriting margins has allowed ... Read the full article
27th May 2021
Lloyd’s, DXC Technology, the Boards of the Lloyd’s Market Association (LMA), and the IUA (International Underwriting Association) have signed new Heads of Terms to support the delivery of the Future at Lloyd’s Blueprint Two. The agreement brings together both the Lloyd’s and insurance company markets in London in a new joint ... Read the full article
20th May 2021
According to a Moody’s report, Lloyd’s exposure to catastrophe risk has declined significantly in recent years to end last year at £1.4 billion (USD 2bn), or 6% of the solvency capital requirements (SCR). The report noted that at year-end 2016, so prior to the severe and costly natural catastrophe events of ... Read the full article
19th May 2021
Nashville-based independent insurance and risk management broker Anderson Benson has been appointed as a Coverholder by Lloyd’s of London for a worldwide Media Liability errors and omissions (E&O) program. The music industry-focused coverage includes copyright, publishing, film and social influencing and will be tailored for each group. Groups includes songwriters, composers, music ... Read the full article
17th May 2021
With lockdown restrictions further relaxed around the UK today, the specialist Lloyd's of London insurance and reinsurance marketplace has reopened its underwriting room. Initially, the world's oldest insurance market has only reopened its famous underwriting room for those who need to be in, with plans to further relax restrictions at 1 ... Read the full article
14th May 2021
A new report by insurance and reinsurance marketplace Lloyd’s of London has explored the potential benefits of human capital insurance solutions for workforce management in the wake of the pandemic and future systemic risks. The report, published in collaboration with KPMG, looks at how human capital, or the collective abilities and ... Read the full article
12th May 2021
Third-party Lloyd’s managing agent Asta has announced the appointment of Stephen Redmond to the board of Asta Managing Agency as independent non-executive director. Redmond joins from Antares/QIC Global where he served as active underwriter, managing director and most recently, chief transformation officer. He played a key role in establishing Antares as an ... Read the full article
30th April 2021
Canadian online insurance provider, Apollo Insurance Solutions Ltd., has secured coverholder status with the specialist Lloyd's of London insurance and reinsurance marketplace, providing it with access to an expanded product portfolio. Additionally, by obtaining coverholder status at Lloyd's, Apollo also gains the ability to develop unique products to respond even more ... Read the full article
30th April 2021
The Lloyd’s Market Association (LMA) has appointed Arabella Ramage to replace legal director Kees van der Klugt following his retirement in September this year. Ramage joins from AXA XL, where she is currently general counsel for International Insurance and Reinsurance. She leads a large team of lawyers and wordings specialists across 17 ... Read the full article
22nd April 2021
Insurance and reinsurance marketplace Lloyd’s of London has appointed Kroll Bond Rating Agency (KBRA) to provide an additional independent opinion of its financial strength. Accordingly, KBRA has assigned an AA- insurance financial strength rating (IFSR) to Lloyd’s with a stable outlook. This complements existing financial strength ratings of A+ (Strong) from Standard ... Read the full article
20th April 2021
Independent insurance broker Price Forbes has launched a new digital General Aviation facility designed to quickly quote and bind risks with a leading Lloyd’s syndicate. This development within Price Forbes’ proprietary EDGE platform is expected to improve speed of service and placement for clients by delivering quotes in real time. EDGE is ... Read the full article
15th April 2021
Lloyd’s has announced plans to establish a hub in Manchester in an effort to recruit talent and enhance its digitalisation capabilities. The historic insurance and reinsurance marketplace says Manchester was selected for its high density of talent, and that it should be up and running by January 2022. There’s expected to be ... Read the full article
15th April 2021
Insurance and capital markets quantitative analysts ICMR have forecast that the Lloyd’s market could turn its first underwriting profit since 2015 if this year turns out to be a ‘normal’ one in terms of losses. Lloyd’s recently reported another loss-making year for 2020, with a pro-forma combined ratio of 110%. Overall ... Read the full article
