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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.

Marc Lipman named President of Lloyd’s Canada

1st June 2020

Insurance and reinsurance marketplace Lloyd’s of London has announced the appointment of Marc Lipman as President of its Canadian arm and as Attorney-in-Fact (AIF) for Lloyd’s Underwriters. He assumes the role of AIF from Lisa Duval, who stepped in last year on an interim basis and now returns to Lloyd’s International ... Read the full article

Lloyd’s to trial virtual underwriting room in COVID-19 response

1st June 2020

As part of its response to the COVID-19 pandemic, insurance and reinsurance marketplace Lloyd’s of London is planning to explore options for a “virtual” underwriting room. The idea is to add online elements that allow brokers and underwriters to connect in a similar way to the physical 1 Lime Street location ... Read the full article

Beazley sees greater underwriting discipline, opportunities for growth: Jefferies

29th May 2020

Specialist re/insurer Beazley is seeing opportunities to deploy its recently raised capital for growth as the efforts of the Lloyd's marketplace drives greater underwriting discipline, reports Jefferies. Beazley announced on May 18th plans for a $300 million equity placement to support growth and to capitalise on rising rates being seen ... Read the full article

Lloyd’s Part VII transfer progresses after High Court strategy approval

26th May 2020

The specialist Lloyd's of London re/insurance marketplace has received approval from the High Court of England and Wales for its Part VII strategy for notifying policyholders about the proposed transfer of its existing European business to Lloyd's Brussels. Lloyd's announced in March of 2017 that it had selected Brussels as ... Read the full article

Neon’s Lloyd’s managing agency platform for sale in TigerRisk run process

22nd May 2020

The Lloyd's of London managing agency platform of in run-off Neon Underwriting, part of American Financial Group, Inc., is up for sale in a process being run by broker TigerRisk Partners, we understand. AFG had announced that it was to exit the Lloyd’s marketplace at the beginning of this year, ... Read the full article

Lloyd’s COVID-19 loss estimate may be conservative: Argenta

19th May 2020

Analysts at managing agency Argenta Group have argued that Lloyd’s has been conservative in its estimates of the insurance losses it will face due to the COVID-19 pandemic. The insurance and reinsurance marketplace previously said that it will pay customers between $3 billion and $4.3 billion in claims, out of ... Read the full article

COVID-19 reinsurance recoveries could be lower than historical hurricanes at Lloyd’s

15th May 2020

The reinsured proportion of Lloyd's of London's estimated $3 billion to $4.3 billion of COVID-19 losses could be lower than for historical hurricanes, according to analysis by Jefferies. The specialist insurance and reinsurance marketplace said yesterday that in 2020 alone, non-life underwriting losses for insurers and reinsurers as a result ... Read the full article

Antares appoints Martin Campbell head of specialty

14th May 2020

Antares, the Lloyd’s platform of QIC Global, has appointed Martin Campbell head of specialty at Syndicate 1274. Campbell reports to Alexander Craggs, Active Underwriter at Antares, and succeeds John Taylor, who is stepping down from the role and will be leaving the business. He brings over 30 years’ experience in the insurance ... Read the full article

Lloyd’s considers Recover Re “after the event” pandemic coverage vehicle

14th May 2020

The specialist Lloyd's of London insurance and reinsurance marketplace is considering the creation of a new insurance vehicle called 'Recover Re', designed to provide "after the event" cover for pandemic related business recovery, including the ongoing Covid-19 crisis. Lloyd's recently announced that it will pay customers up to $4.3 billion ... Read the full article

Lloyd’s forecasts $107bn Covid-19 industry loss for 2020

14th May 2020

The Lloyd's insurance and reinsurance marketplace says that it will pay customers between $3 billion and $4.3 billion in claims due to Covid-19, but the industry was a whole is forecast to suffer $107 billion of losses in 2020 alone. The industry loss forecast or estimate from Lloyd's of London is ... Read the full article

EC3 Brokers launches specialty division, announces leadership

13th May 2020

EC3 Brokers, the Lloyd's-headquartered commercial lines broker, has announced the launch of its specialty division and appointed Jonathon Lane as its head. Lane is joined by Dominic Toogood and Gary Moore, with all three reporting to James Murphy, head of broking at EC3 Brokers. Lane began his career in insurance in 2003 ... Read the full article

Brit & Google Cloud launch first algorithmically driven Lloyd’s Syndicate, Ki

13th May 2020

Specialty insurer and reinsurer Brit has collaborated with Google Cloud to launch Ki, a fully digital and algorithmically-driven Lloyd's of London syndicate designed to redefine the commercial insurance market as a 'follow-only' syndicate. The new standalone business is expected to launch in 2021, and the pair state that its creation marks ... Read the full article

AEGIS London bolsters executive team

13th May 2020

Lloyd’s managing agency AEGIS London has added Katie Wade as Chief Financial Officer and announced the appointment of Rhic Webb to the newly created role of General Counsel and Company Secretary later this year. Both will report to Managing Director David Croom-Johnson. Wade was most recently Group CFO with insurer ERS. Having ... Read the full article

Arch’s Lloyd’s Syndicate 2012 leads $100mn Crypto.com policy

12th May 2020

Arch Underwriting at Lloyd's Syndicate 2012 has helped provide a $100 million direct insurance policy to Crypto.com, a cryptocurrency finance platform formed in 2016. This is the largest coverage that Crypto.com has secured for its cold storage assets on custodial partner Ledger Vault. The new policy brings Crypto.com's total cryptocurrency insurance to ... Read the full article

HSCM Bermuda backs AIG’s Syndicate 2019 at Lloyd’s

11th May 2020

Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, has announced that it has provided capital support for Lloyd’s newly launched Syndicate 2019. The investment manager, which conducts its insurance and reinsurance business as HSCM Bermuda, says the move represents an opportunity to access the ... Read the full article

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