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.
Oak Re Syndicate 2843 gets Lloyd’s approval to commence underwriting
8th September 2024
Oak Reinsurance and Polo Managing Agency Limited (PMA), a PoloWorks company, have announced that Oak Re Syndicate 2843 has received Lloyd’s ‘in principle’ approval to commence underwriting from 1 January 2025. Paul Andrews, Chief Executive Officer of PoloWorks and PMA, commented on the news, “We are honoured to have partnered with ... Read the full article
Industry-leading performance has underpinned our ability to innovate: Lloyd’s Neal
5th September 2024
After achieving its best interim combined ratio since 2007 in the first half of the year, Lloyd's CEO, John Neal, has emphasised that this industry-leading performance has underpinned the firm's ability to innovate and design the solutions its customers, businesses and governments need to manage their risks and balance ... Read the full article
Miami-based Argentum Re achieves Lloyd’s broker status
27th August 2024
Argentum Re, a Miami-based reinsurance broker, has announced its designation as a Lloyd’s broker, becoming the second in Miami-Florida and the sixth in the US to earn this status. Founded in 2018 by Raul Perez and Alejandro Rebolledo, Argentum Re is a boutique reinsurance broker specialising in Latin America, Europe, and ... Read the full article
The Fidelis Partnership Syndicate 3123 begins writing at Lloyd’s
1st July 2024
The Fidelis Partnership and Fidelis Insurance Group have confirmed that Syndicate 3123 (The Fidelis Partnership Syndicate) has formally begun underwriting business at Lloyd’s. The Fidelis Partnership Syndicate was first announced in March of this year, in collaboration with Hampden Agencies, the largest provider of private capital to Lloyd’s. The Fidelis Partnership ... Read the full article
Lloyd’s unveils new Canadian Core Fixed Income Solution
27th June 2024
The world’s leading marketplace for insurance and reinsurance, Lloyd’s, has unveiled a new Canadian Core Fixed Income Solution on the Lloyd’s Investment Platform. According to Lloyd's, the new fund is designed to enhance investment outcomes within the Lloyd’s market’s Canadian fixed income allocation. "The solution offers efficient access to a broad asset ... Read the full article
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
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