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Lloyd’s of London news

Report urges re/insurers to engage with synthetic biology sector: Lloyd’s

26th July 2018

A new emerging risks report from the specialist Lloyd's of London insurance and reinsurance marketplace and Drs John Heap and Karen Polizzi of Imperial College London, urges re/insurers to engage with the expanding synthetic biology sector to support the development of new technologies and new risk transfer solutions. In recent times, ... Read the full article

Brexit white paper draws criticism from Lloyd’s CEO

13th July 2018

Lloyd's of London’s outgoing Chief Executive Officer (CEO), Inga Beale, has responded to the exit strategy laid out in the Brexit white paper with claims that professional and financial services “are not catered for” and that the proposed deal will accelerate its plans for a Brussels subsidiary. In an interview ... Read the full article

Lloyd’s market needs ‘radical change’, says LMA head Gittings

13th July 2018

David Gittings, Chief Executive of the Lloyd’s Market Association (LMA), has called for a “thorough review” of how the re/insurance market at Lloyd’s operates, according to the Financial Times (FT). Gittings told the publication: “I don’t believe Lloyd’s is facing an existential crisis but it needs a thorough review of what ... Read the full article

Lloyd’s reveals new digital distribution platform

11th July 2018

The specialist Lloyd’s of London insurance and reinsurance marketplace has launched a new digital distribution platform, called Lloyd’s Bridge, which is designed to more efficiently connect insurance businesses and entrepreneurs with underwriters from the Lloyd’s market. By matching insurers and underwriters, the online Lloyd’s Bridge platform will enable businesses to underwrite ... Read the full article

Concirrus updates AI powered Quest Marine software

6th July 2018

InsurTech company Concirrus has released an updated version of its artificial intelligence (AI) powered data analysis software, Quest Marine 2.0, to enable Lloyd’s marine syndicates to remediate their portfolios. Quest Marine is designed to allows re/insurers and brokers to analyse their entire historical portfolio in seconds, using machine learning algorithms that ... Read the full article

AFL acquires majority stake in UK employer protection MGA

3rd July 2018

AFL Insurance Brokers Ltd, the independent Lloyd’s broker, has acquired a controlling stake in specialist employer protection Managing General Agency (MGA) Concordia Employment Services Limited, for an undisclosed sum. Based in London, Concordia has been supporting UK employers by managing risks and exposures related to workplace disputes since its launch in ... Read the full article

Inga Beale to depart Lloyd’s in 2019

29th June 2018

Inga Beale, the Chief Executive Officer (CEO) of the specialist Lloyd's of London insurance and reinsurance marketplace, is to step down from her position in 2019. Beale joined Lloyd's in 2014, and during the last five years showed a commitment to the transformation of the marketplace, which includes significant cultural change ... Read the full article

Lloyd’s looking to ‘redefine’ tech use with new innovation lab partners

18th June 2018

Inga Beale, Chief Executive Officer (CEO) at Lloyd’s, has said that the company is looking to redefine the way it uses technology as it begins the process of searching for entrepreneurial start-ups to partner with its Innovation Lab, due to be launched later in 2018. Lloyd’s recently announced that it ... Read the full article

Lloyd’s coverholder status secured by Millstream Underwriting

24th May 2018

Managing General Agent Nexus Group member Millstream Underwriting has this week announced its approval as a Lloyd’s Coverholder. The move provides London-based Millstream with a greater capacity to underwrite business at Lloyd's. Development Manager of Millstream, Mark Copsey, said, “We’re delighted to announce that Lloyd’s has approved Millstream Underwriting as a Coverholder, ... Read the full article

Lloyd’s very well positioned in Asia-Pacific, excited about opportunity: Chaplin, Lloyd’s

23rd May 2018

The specialist Lloyd's of London insurance and reinsurance marketplace is well positioned in Asia-Pacific and is focused on building on its solid foundation in the region, which now accounts for 11.5% of the market's global income, according to Kent Chaplin, Chief Executive Officer (CEO) of Asia-Pacific, Lloyd's. Speaking with A.M. BestTV ... Read the full article

Tokio Marine Kiln’s syndicate losses continue at latest forecast

17th May 2018

Tokio Marine Kiln (TMK) has released the results for its three non-aligned Lloyd’s of London Syndicates and updated its 2017 year of account forecasts, revealing that losses are expected to continue in response to the costly catastrophe events experienced in late 2017. TMK’s Syndicates 510 and 557 both showed slight improvements ... Read the full article

Mobile technology driving re/insurance penetration in Africa, says Lloyd’s Inga Beale

15th May 2018

Inga Beale, Chief Executive Officer (CEO) of Lloyd’s of London, has suggested that mobile technology is key to both supporting economic growth and driving re/insurance penetration across Africa. Although Africa has generally been late in its transition from analogue to digital technologies, the continent has essentially leapfrogged computers and landlines and ... Read the full article

Poor 2017 results suggest Lloyd’s syndicates under strain: RBC

14th May 2018

RBC Capital Markets has reported that Lloyd's syndicates are under considerable strain, having posted aggregate combined ratios of 114% in 2017, with the worst return on capital since 2001. RBC analysed 95 Lloyd's syndicate reports from 2017, finding that just 16% of syndicates by number, or 9% of syndicates by premium, ... Read the full article

Lloyd’s underwriters to terminate NRA insurance programmes

9th May 2018

The specialist Lloyd's of London insurance and reinsurance marketplace has announced that after careful consideration it has directed underwriters in the market to terminate any existing insurance programmes with the National Rifle Association of America (NRA). Lloyd's Corporation has told underwriters across the marketplace to terminate all insurance offered, marketed, endorsed, ... Read the full article

John Parry to depart Lloyd’s in 2019

1st May 2018

Lloyd's of London has announced today that the re/insurance market's Chief Financial Officer John Parry is set to leave the Corporation, after 17 years. Parry became Chief Financial Officer of Lloyd's in December 2014 and sits on both the Lloyd’s Board and Executive Committee. As CFO, he has been responsible for financial ... Read the full article

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