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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.

Coverys Syndicate 1975 adds Priya Fathers as medical underwriter

3rd December 2019

Coverys Managing Agency Limited, the Lloyd’s managing agent of Syndicates 1975, 1991 and 3330, has announced the appointment of Priya Fathers as a medical professional liability underwriter. Fathers, whose appointment to Lloyd’s syndicate 1975 is immediate, will report to Interim active underwriter Phil Sloan. She had previously served as underwriting manager of ... Read the full article

Fitch revises London market outlook to stable, cites pricing & Lloyd’s

27th November 2019

Fitch Ratings has revised its 2020 outlook for the London market to stable from negative amid the improved pricing landscape and the market-wide profitability review initiated by Lloyd's of London. Overall, there is an improved pricing environment in the London marketplace, which Fitch expects to result in better underwriting results going ... Read the full article

Lloyd’s urges people to speak up against unacceptable behaviour

19th November 2019

The specialist Lloyd's of London insurance and reinsurance marketplace has launched a new campaign designed to encourage people to speak out against unacceptable behaviour. The campaign, #SpeakUp, has been launched by Lloyd's in order to underline the importance of speaking up and to provide clear guidance on how people can take ... Read the full article

MS&AD takes $1.6bn hit on MS Amlin’s Lloyd’s, European profitability

19th November 2019

MS&AD Insurance Group Holdings has announced that MS Amlin's European primary insurance and Lloyd's business have been less profitable than it anticipated when acquired, and as such, an impairment loss of 175.4 billion yen (USD 1.6 billion) has been recognised as an extraordinary loss. The announcement comes as part of the ... Read the full article

LMA cyber clauses provide clarity for property and marine

15th November 2019

The Lloyd’s Market Association (LMA), an organisation set up to represent the interests of the Lloyd's community, has published a number of new clauses for the property and marine markets that aim to provide clarity for cyber coverage under first-party property damage policies. The publication comes as part of a push ... Read the full article

Chubb appoints Jason Keen to lead global markets division

14th November 2019

Global re/insurer Chubb has announced the appointment of Jason Keen as president of its global markets division, effective early 2020. Keen will oversee and lead the strategy and performance of the division, which comprises Chubb’s London market wholesale and specialty business including the firm's Lloyd’s platform. He has served with the firm ... Read the full article

SSL Endeavour to launch Miami MGA, names senior leadership

13th November 2019

SSL Endeavour, the specialist independent Lloyd’s broker and delegated authority expert, is set to establish a Miami-based managing general agent focused on building construction, energy and power generation business throughout Latin America. Due to launch on 1 January 2020, the MGA will exist under a yet-to-be-confirmed brand name. SSL Endeavour says it ... Read the full article

Praedicat to develop named peril casualty product from Lloyd’s Lab

13th November 2019

Praedicat, a risk analytics and modelling company for casualty re/insurers and industrial firms, has announced that it plans to develop a new named peril casualty product in the Lloyd’s Lab. Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, selected Praedicat as part of the third cohort ... Read the full article

Re/insurers risk irrelevance through ‘business as usual’ mindset: John Neal

13th November 2019

Re/insurance companies risk becoming irrelevant in the eyes of their customers if they decide to carry on with a ‘business as usual’ approach, despite the many challenges that face the industry today. This is according to John Neal, Chief Executive Officer (CEO) of insurance and reinsurance marketplace Lloyd’s of London, who ... Read the full article

Blenheim Syndicate increases capacity, strengthens property team

12th November 2019

Blenheim Syndicate 5886 at Lloyd's of London has announced an increase in capacity to £250 million for 2020, as well as the addition of Simon Anthony to its property team. Asta-backed Blenheim Syndicate 5886 commenced underwriting from Jan 1st, 2017 with underwriting capacity of £150 million. For next year, the syndicate ... Read the full article

PPL adoption continues to rise in Q3, changes to syndicate leaderboard

11th November 2019

Lloyd’s of London Syndicates accepted 65% of in scope risks through electronic placement during the third quarter of 2019, while the use of Placing Platform Limited (PPL) amongst the International Underwriting Association (IUA) companies increased to 53%. This is according to LMG’s latest market-wide data for risks placed electronically in Q3 ... Read the full article

Epitaph of Lloyd’s prematurely written several times before: Roundtable

8th November 2019

As the Lloyd’s of London wades into a pivotal phase of digital transformation, key industry executives speaking at the 2019 Reinsurance News Monte Carlo Rendezvous Roundtable reflected on how and why the marketplace will remain key to the industry for years to come. “I think over the course of ... Read the full article

Decision to support Lloyd’s Blueprint very easy. There is no choice: Robert Childs, Hiscox

8th November 2019

Hiscox Chairman and Deputy Chairman of Lloyd’s Robert Childs has explained how supporting the market's modernisation Blueprint was a given, considering its need to adapt. Childs, speaking yesterday in Bermuda at the PwC Insurance Summit, was asked about Lloyd's mission to become increasingly efficient and drive change through the insurance and ... Read the full article

Lloyd’s to create single governing body

8th November 2019

Lloyd’s of London has announced ambitious plans to create a single governing body for the Corporation and market by merging the Council and the Franchise board. From June 2020, a new body will consist of six nominated members, six market-elected, and three executives. A statement released by Lloyd’s today describes market support ... Read the full article

Lloyd’s has been too slow reacting to change: CEO John Neal

7th November 2019

Lloyd’s has not reacted quickly enough to changes in the risk landscape and must offer products and services that are more closely aligned with what customers want and need, according to Chief Executive of the marketplace John Neal. Speaking at a lecture today in Lloyd’s Old Library building, Neal emphasised the ... Read the full article

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