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Reinsurance News

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 introduces risk-based oversight for syndicates

18th January 2019

The specialist Lloyd's of London insurance and reinsurance marketplace has announced that it intends to introduce risk-based oversight for underperforming syndicates as part of its ongoing performance review. The process will support the implementation of syndicates’ performance improvement plans, which are designed to return certain classes or syndicates to sustainable profit ... Read the full article

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

New York regulators fine Lloyd’s insurers $5m for NRA dealings

28th December 2018

Ten insurers that did business with the National Rifle Association (NRA) through the Lloyd’s of London marketplace have been fined a total of $5 million by New York regulators. The fines are related to NRA self-defense insurance programs and have been deemed in violation of state law. Initially, an investigation by New ... Read the full article

Iain Ferguson takes up regional director role for Lloyd’s in Asia Pacific

21st December 2018

The President and Chief Operating Officer for Lloyd’s Japan, Iain Ferguson, is to take on additional responsibilities as Regional Director across the Asia Pacific (APAC) region. Having first joined Lloyd’s in 2007, Ferguson has more than 20 years’ experience working in Japan and across Asia. Lloyd's says its’ organisational structure in Asia ... Read the full article

At least 40% of risks must be placed electronically at Lloyd’s for Q1 2019

20th December 2018

The specialist Lloyd's of London insurance and reinsurance marketplace has revealed that for the first-quarter of 2019, each syndicate will be required to have written at least 40% of its risks using a recognised electronic placement system. The target figure is set to increase to 50% for the second-quarter of 2019, ... Read the full article

Sonja Rottiers to replace Vandendael as Lloyd’s Brussels CEO

20th December 2018

It has been announced that Lloyd’s post-Brexit European base in Brussels will be lead by Sonja Rottiers as Chief Executive Officer. This appointment follows the recent departure of Lloyd's Brussels' previous CEO Vincent Vandendael, who played a key role in its' successful establishment. Rottiers will also serve as Lloyd’s Regional ... Read the full article

Lloyd’s adds Albert Benchimol, Victoria Carter to Council

18th December 2018

The Lloyd's Council has announced the addition of Albert Benchimol and Victoria Carter as an External member and Working member, respectively, effective from 1 February 2019. Meanwhile, Michael Watson, currently on the council, has been re-elected as an External member. Benchimol is currently President and Chief Executive Officer of AXIS Capital Holdings Limited, ... Read the full article

Lloyd’s turns to IoT for marine cargo performance improvement

17th December 2018

Lloyd’s has joined six lead market syndicates - AXA, QBE, CNA, Ascot, Antaras and Beazely - on a new initiative to begin using Parsyl, a venture-backed supply chain data platform that utilises Internet of Things (IoT) technology. The new initiative is designed for products that require specialist transport and storage, such ... Read the full article

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

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