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.
Surge in cyber insurance market fuelled by regulatory shifts and global tensions: Morningstar DBRS
27th June 2024
Morningstar DBRS, a global credit rating agency, emphasises that cyber insurance is rapidly growing and essential in the digital age, projected to soar to $40 billion by decade's end amidst rising cyber threats and stringent data regulations. Morningstar DBRS highlights that Cyber insurance is a relatively new type of insurance designed ... Read the full article
Re/insurance sector has to be ambitious amid expanding risk environment: Carnegie-Brown, Lloyd’s
26th June 2024
Speaking earlier today in London during Marsh McLennan's Rising Professionals’ Global Forum 2024 event, Bruce Carnegie-Brown, Chairman, Lloyd’s, distilling down on the scope of risk, said that "the greatest challenges of our time are climate change, evolving cyber and technology risks, geopolitics and political violence and financial risk." According to Carnegie-Brown, ... Read the full article
Lloyd’s syndicate performance improves in 2023 with reinsurance growing significantly: Howden Re
26th June 2024
There has been an improvement in Lloyd’s syndicate underwriting performance in 2023 throughout the majority of classes, with reinsurance "growing significantly", according to a topical report from Howden Re. According to the firm, property, reinsurance, marine, aviation and transport reported the largest premium growth over the last five years; experienced across ... Read the full article
LMA backs postponement of cutover date for Blueprint Two
21st June 2024
Sheila Cameron, CEO of the Lloyd's Market Association (LMA) has noted that it welcomes the decision by Velonetic, supported by Lloyd’s Council, to postpone again the cutover date for Blueprint Two, which was "taken in light of the reality that delays in testing have meant that it is no longer ... Read the full article
Lloyd’s names Diana Santin General Representative for Italy
18th June 2024
Lloyd’s Europe has announced the appointment of Diana Santin as the new General Representative for Italy, pending regulatory approval. According to the announcement, Nicoletta Andreotti, who has been serving as General Representative ad interim, will stay in the role until regulatory approval has been obtained for Santin. In addition to her new ... Read the full article
SCOR’s Léger & Lloyd’s Neal to lead Insurance Europe’s RAB
14th June 2024
SCOR's CEO Thierry Léger and Lloyd’s CEO John Neal have been appointed chair and vice-chair of Insurance Europe’s Reinsurance Advisory Board (RAB) respectively. Thierry Léger takes over from Gen Re’s Charlie Shamieh, who has held the RAB chairmanship since June 2023. A well-known figure in the reinsurance industry, Léger has 25 years ... Read the full article
Strong outlook for Lloyd’s market in 2024: Howden
13th June 2024
A recent report by Howden highlights that the conditions and prospects for the Lloyd’s market remain strong in 2024, characterised by strong rate adequacy across nearly all business classes, and minimal indications of new capital entering the market that could disrupt this stability. Howden notes that Lloyd’s has achieved excellent underwriting ... Read the full article
Lloyd’s approves Allied American USA as a Delegated Claims Administrator
11th June 2024
Allied American USA, a company offering a wide range of insurance claim services, has announced its approval as a Delegated Claims Administrator (DCA) by Lloyd's of London. DCAs play a vital role in supporting the Lloyd's market by efficiently handling claims, thereby enhancing policyholder outcomes. This significant achievement enables Allied American to ... Read the full article
Lloyd’s approves Devonshire Underwriting to write business in Europe
11th June 2024
Devonshire UW Limited, and its affiliate Devonshire UW Europe GmbH, together known as Devonshire Underwriting, has received Lloyd’s approval to launch into the European Market. Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk (TR) solutions, is now able to write business in Europe, serving the market that ... Read the full article
Mel Carvill appointed Chairman of Polo Insurance Managers
6th June 2024
PoloWorks, a collective of Lloyd’s and London Market insurance services businesses, has announced the appointment of Mel Carvill as Chairman of Polo Insurance Managers. Mark Elliott, CEO of Polo Insurance Managers, commented: “We are delighted that Mel has joined PIM as Chairman. He brings a level of seniority and experience which ... Read the full article
Lloyd’s new Miami office to strengthen Latin America and Caribbean business
5th June 2024
Global re/insurance marketplace, Lloyd’s has announced the opening of a new office in Miami, a move that is designed to strengthen its Latin America and Caribbean business. The new office, which will open from 1 September 2024, will enable Lloyd’s to realign its resources to centrally support brokers, coverholders and managing ... Read the full article
Apollo launches first captive syndicate under revised model at Lloyd’s
3rd June 2024
Apollo Syndicate Management has reportedly launched the "first captive syndicate of the modern era" at Lloyd’s in partnership with a major global client. As per Apollo, this is the latest development in its mission to grow its extensive market offering and leading managing agency services. "The launch signals the start of Lloyd’s ... Read the full article
Lloyd’s & BMA strengthen commitment for innovation & education access via MoU
29th May 2024
Lloyd’s, a global insurance and reinsurance marketplace, has announced the signing of a Memorandum of Understanding (MoU) with the Bermuda Monetary Authority (BMA) to bolster its commitment to driving innovation and education access. The initiative, announced in March, focuses on leveraging the Lloyd’s Lab to drive innovation and enhance educational ... Read the full article
Ariel Green expands Lloyd’s Technology Performance Insurance Consortium
29th May 2024
Ariel Green, a division of Ariel Re, has expanded the Lloyd’s Technology Performance Insurance (TPI) Consortium to protect clean energy technologies and projects. First launched in 2023 following Ariel Green's rebranding, the Consortium has been successfully renewed, growing the number of participating markets and capacity available. With the Consortium’s backing, Ariel ... Read the full article
NormanMax launches parametric Syndicate 3939 in partnership with Apollo
22nd May 2024
NormanMax Insurance Holdings, the US-based parametric re/insurance group, has launched Syndicate 3939, managed by insurance group Apollo. NormanMax Syndicate 3939 has reportedly commenced underwriting and will offer global parametric re/insurance solutions, specifically designed for hurricanes, tropical cyclones, typhoons, and earthquakes to address the natural disaster protection gap. NormanMax explained that this is ... Read the full article
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