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.
AM Best highlights Lloyd’s improved combined ratio in recent assessment
18th July 2022
AM Best’s recent assessment of Lloyd’s operating performance highlights the rating agency’s expectation that Lloyd’s will produce strong technical performance over the underwriting cycle, and that capital will continue to be attracted to the market. Analysts noted that improved pricing conditions, as well as a robust performance oversight by the corporation, ... Read the full article
“Critical concerns” persist for Lloyd’s despite progress: Gallagher Re
12th July 2022
A new report by reinsurance broker Gallagher Re concludes that a number of both internal and external challenges remain “critical concerns” for the Lloyd’s of London market, despite measurable progress last year. The first annual Lloyd’s of London Market Report from Gallagher Re tracked the Lloyd’s market's capital and profitability throughout ... Read the full article
Lloyd’s Europe hires Heugues as Chief Underwriting Officer
7th July 2022
Lloyd's has announced the hiring and appointment of former Ageas senior executive as its new Bertrand Heugues as Chief Underwriting Officer (CUO) for the Lloyd's Europe branch. Headquartered in Brussels, the Lloyd's Europe branch was originally established so the market could continue to operate effectively in Europe after Brexit, providing continuity ... Read the full article
MIC Global gets Lloyd’s approval
23rd June 2022
MIC Global has received approval for Lloyd's Syndicate 5183 to commence underwriting, effective immediately. According to the firm, Syndicate 5183 will be managed by Asta through Lloyd's syndicate in a box (SIAB) platform. It said that it further cemented MIC Global as an international leader in providing embedded insurance solutions to ... Read the full article
Lloyds’ broker Servca drives EU expansion with opening of Malta office
16th June 2022
Independent international Lloyds of London broker, that specialises in non-standard medical, financial and professional lines insurance – Servca, has announced the opening of an office in Malta to help drive the expansion of its European business. By having passporting rights to all 28 countries within the EU, complete with Lloyd’s Brussels ... Read the full article
Lloyd’s upswing set to continue strongly: Helios
14th June 2022
Helios Underwriting has reported global insurance rate increases of over 50% since 2017 and a more than 30% increase in Lloyd’s of London (Lloyd’s) premiums, which it says have set the stage for a sustained improvement in underwriting results. A FY21 results update by the Lloyd’s of London investment and underwriting ... Read the full article
NFP’s Financial Institutions Group selects TigerRisk to develop line slip for Lloyd’s
24th May 2022
Leading property and casualty (P&C) broker, NFP has announced its Financial Institutions Group (FIG) has selected broker and risk capital advisory TigerRisk Partners LLC to develop a line slip to transact business with Lloyd’s of London. The line slip will enable global insurers, US regional and mutual insurance companies, managing general ... Read the full article
Lloyd’s Russia exposure estimate due by late May: Carnegie-Brown
28th April 2022
Bruce Carnegie-Brown, Chairman of Lloyd’s of London, has said that the insurance and reinsurance marketplace is expected to have “a number” for its exposure to the Russia-Ukraine conflict “by the end of May.” Speaking in a recent interview with Bloomberg, Carnegie Brown explained that the impact of the conflict and its ... Read the full article
Lloyd’s syndicate launches green incentive initiative
25th April 2022
Syndicate 2525, the specialist third party and employers’ liability insurer at Lloyd’s, is offering its panel adjusters a ‘fee bonus’ when a site visit is undertaken in an entirely electric vehicle. The bonus, which is a flat amount, boosts the on-site investigation fee by more than 25% for lower value, higher ... Read the full article
Regulators waive Lloyd’s collateral requirements for US reinsurance
21st April 2022
From October 2022, no Lloyd’s underwriters writing US contracts will be required to provide collateral for their US reinsurance obligations. The change is the result of new rules that come into effect later this year, which will eliminate collateral requirements for financially strong non-US reinsurers writing US reinsurance, following approval as ... Read the full article
Aspen joins commitment to cut ties with the Tar Sands Pipeline
21st April 2022
Trans Mountain insurer and Lloyd’s syndicate Aspen Insurance is to cut ties with the existing Trans Mountain tar sands pipeline when its current insurance policy expires this summer. Aspen joins sixteen other insurance companies that have dropped Trans Mountain or vowed not to insure the Trans Mountain Expansion Project. The commitment from ... Read the full article
Lloyd’s building closed after climate activist protest
12th April 2022
The Lloyd's building at Lime Street in London has been closed this morning, after protesters from climate activist group Extinction Rebellion blockaded entrances. "We are currently unable to enter the Lloyd's building due to protesters outside," Lloyd's said in a statement released at 9.15am this morning. "In the interests of your safety, ... Read the full article
Mosaic adds Lloyd’s carrier Apollo to boost syndicated global capacity
5th April 2022
Mosaic Insurance has added Lloyd’s carrier Apollo to its consortia of industry partners, boosting the amount of syndicated capacity it can deploy for high-demand transactional liability coverage worldwide. The new partnership will support Mosaic’s hybrid syndicated capital program, in which Mosaic Syndicate 1609 commits capital alongside that of trade partners seeking ... Read the full article
Cenata and IQUW partner on reinsurance management solution
5th April 2022
Insurtech software provider Cenata has partnered with Property, Commercial and Specialty re/insurer, IQUW, enabling the Lloyd’s syndicate to use Cenata’s outwards reinsurance management solution, Cenata SURE, a full cycle outwards reinsurance management solution. The partnership will provide IQUW with the capability to process real-time premium and claims data from multiple inwards ... Read the full article
Insurance industry’s financial clout key to fighting climate change: Lloyd’s CEO Neal
4th April 2022
Lloyd’s CEO John Neal has said climate change is the ‘single biggest opportunity’ he has seen in his career. Speaking on the Lloyd’s 2021 earnings call, Neal said that he saw climate change not as a threat, but as an opportunity for the industry ‘to stand up and be counted’. Neal said ... Read the full article