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.

PPL chair calls for talent to build next generation of e-placement

6th February 2020

The chair of Placing Platform Limited (PPL), the digital risk transfer platform deployed across the London market, has called on new talent to help build the next generation of e-placement. Bronek Masojada was speaking at a meeting of over 100 Chief Executive Officers across the London market which sought to examine ... Read the full article

Lloyd’s details phased implementation of silent cyber mandate

30th January 2020

Lloyd's of London has revealed updated arrangements for the phased implementation of classes of business that require underwriters to ensure that all policies either affirm or exclude cyber cover. The Lloyd's insurance and reinsurance marketplace announced last year that is to mandate that all policies clearly state whether they will provide ... Read the full article

Lloyd’s mandates electronic placement for 80% of risks bound

29th January 2020

The Lloyd's of London insurance and reinsurance marketplace has announced an update to the Electronic Placement Mandate, increasing the target on risks bound for each quarter of 2020 to 80%. The specialist Lloyd's re/insurance marketplace introduced a mandate for electronic placement for syndicates in 2018. Initially, and from Q2 2018, Read the full article

LIIBA agenda spotlights Lloyd’s reforms & Brexit planning

27th January 2020

The London and International Insurance Brokers’ Association (LIIBA) has announced the publication of its agenda for 2020, which emphasises further participation in the Future at Lloyd’s program and efforts to support Brexit planning. Specific initiatives for the year include working with HM Treasury to explore options for a regulatory approach more ... Read the full article

Angela Crawford-Ingle joins Lloyd’s Board as Chair of Audit Committee

23rd January 2020

The specialist Lloyd's of London insurance and reinsurance marketplace has announced that Angela Crawford-Ingle has been appointed to its Board, succeeding Richard Keers as Chair of the Audit Committee. Crawford-Ingle's appointment is effective immediately, and sees her also become Lloyd's Whistleblowers' Champion, a role which sees her take oversight of both ... Read the full article

LMG appoints Liberty Specialty CEO Matthew Moore as chair

22nd January 2020

The London Market Group has announced the appointment of Matthew Moore, Chief Executive Officer of Liberty Specialty Markets, as its new chair. Effective May 1, Moore will succeed Beazley Chief Executive Officer Andrew Horton after two years in the role. “The past few years have seen real shifts in both the external ... Read the full article

Former Zurich exec Jane Hayes joins LMA as underwriting director

22nd January 2020

The Lloyd’s Market Association has appointed Jane Hayes as underwriting director, effective February 3. Hayes joins from Zurich having most recently served as Chief Underwriting Officer, Europe, Middle East and Africa. She is expected to play a key role in working with the Corporation of Lloyd’s, LMA’s members and the market in ... Read the full article

Lloyd’s Chairman wants more access to Indian market

22nd January 2020

Bruce Carnegie-Brown, Chairman at insurance and reinsurance marketplace Lloyd’s of London, has said that he wants more syndicates to be able to access the Indian market, according to reports from CNBC. The Lloyd’s Chairman criticised the Indian government for its delay in opening up the country’s re/insurance sector to overseas companies, ... Read the full article

Argenta adds Vibe underwriter team to Syndicate 2121

17th January 2020

Argenta Lloyd’s Syndicate 2121 has appointed a team of underwriters to help develop a book of casualty business. Argenta Holdings Limited, a wholly owned subsidiary of Hannover Re, is an underwriting and insurance services group operating in the Lloyd’s Market. Bradley Knight will lead the 15-member team and is supported by class ... Read the full article

DARAG concludes reinsurance arrangement with Lloyd’s Syndicate

15th January 2020

Legacy acquirer, DARAG Group Limited has today announced the completion of a transaction with a leading Lloyd's of London syndicate, to provide reinsurance for a book of U.S. liability business. Under the terms of the agreement, DARAG'S Malta-based risk carrier, DARAG Malta Insurance and Reinsurance PCC Ltd., will provided the reinsurance. Tom ... Read the full article

Asta to support BPBUW, equestrian underwriter David Ashby

15th January 2020

Lloyd's third party managing agent Asta has agreed to provide its MGA platform and operational services to newly-formed underwriting agency BPBUW Management. BPBUW said that it hopes to build out a number of specialist niche MGA subsidiaries, with the key underwriters in each holding an equity stake in their own ... Read the full article

Lloyd’s of London’s Jon Hancock to step down in 2020

14th January 2020

The specialist Lloyd's of London insurance and reinsurance marketplace has announced that Performance Management Director, Jon Hancock, has decided to step down in 2020. In 2019, Hancock took the lead on Blueprint One as part of the Future at Lloyd's strategy, designed to modernise the oldest insurance market in the world. His ... Read the full article

Lloyd’s, LMA confirm business lines for modernised syndication pilot

9th January 2020

The specialist Lloyd's of London insurance and reinsurance marketplace, alongside the Board of the Lloyd's Market Association (LMA), has revealed that the pilot classes for the modernised syndication pilot will be Marine Hull and International Casualty Binders. The modernised syndication pilot forms part of the Future at Lloyd's strategy, an ongoing ... Read the full article

Reserve deterioration a potential inflection point in 2020: GC’s Whitmore

8th January 2020

Ongoing challenges associated with reserve deterioration in the re/insurance industry represent a potential inflection point that demands close attention moving into 2020, according to Charles Whitmore, managing director at Guy Carpenter. Speaking at a lecture in Lloyd’s Old Library building, Whitmore described the issue as something spreading - accelerating, even - ... Read the full article

Neon goes into run-off as AFG pulls out of Lloyd’s

6th January 2020

American Financial Group, Inc. has announced that it is pulling out of underwriting in the Lloyd's marketplace, with its Neon business there set to go into run-off. American Financial Group (AFG) said that it plans to exit the Lloyd’s of London insurance market in 2020. To achieve this, the company said that ... Read the full article

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