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.

Brit announces launch of new Lloyd’s ILS fund

9th December 2019

Global specialty insurer and reinsurer Brit has announced the launch of a new Lloyd's of London focused insurance-linked securities (ILS) fund, Sussex Specialty Insurance Fund (SIF). Brit states that the new fund offers ILS investors access to Brit Syndicate 2988 and that it is the first fund structure of its type ... Read the full article

Lloyd’s issues behaviour warning ahead of Xmas parties

6th December 2019

Staff at insurance and reinsurance marketplace Lloyd’s of London have been warned to behave appropriately ahead of the Christmas party season, according to reports from Financial News. Lloyd’s Chief Executive John Neal told the publication that emails had been sent out to staff and member companies reminding them of the marketplace’s ... Read the full article

Arch’s Aaron Woodhams joins iprism as underwriting manager

4th December 2019

Technology-driven underwriting agency iprism has announced the appointment of Aaron Woodhams to the newly created role of underwriting manager, effective immediately. Woodhams joins from Arch’s Lloyd’s Syndicate 2012 and brings over 20 years’ experience to the role. He will be responsible for leading iprism’s operational underwriting function, applying pricing strategy and managing ... Read the full article

Lloyd’s of London launches space insurance policy

4th December 2019

Insurance and reinsurance marketplace Lloyd’s of London has launched a new space policy for the emerging private spaceflight industry. The solution, called Llift Space, is backed by a consortium of 18 syndicates, led by Brit and Hiscox MGA, with a $25 million capacity per risk. Only available in the Lloyd’s market, Llift ... Read the full article

Coverys Syndicate 1975 adds Priya Fathers as medical underwriter

3rd December 2019

Coverys Managing Agency Limited, the Lloyd’s managing agent of Syndicates 1975, 1991 and 3330, has announced the appointment of Priya Fathers as a medical professional liability underwriter. Fathers, whose appointment to Lloyd’s syndicate 1975 is immediate, will report to Interim active underwriter Phil Sloan. She had previously served as underwriting manager of ... Read the full article

Lloyd’s to repeal Singapore scheme by November 2022

28th November 2019

Insurance and reinsurance marketplace Lloyd’s of London has announced that its scheme allowing Lloyd’s underwriters to write Singaporean domiciled risk will be repealed by November 2022. The scheme was established in 2000 as a temporary measure until the Lloyd’s Asia platform reached maturity. Under the scheme, Lloyd’s underwriters outside of Singapore are ... Read the full article

Fitch revises London market outlook to stable, cites pricing & Lloyd’s

27th November 2019

Fitch Ratings has revised its 2020 outlook for the London market to stable from negative amid the improved pricing landscape and the market-wide profitability review initiated by Lloyd's of London. Overall, there is an improved pricing environment in the London marketplace, which Fitch expects to result in better underwriting results going ... Read the full article

Lloyd’s urges people to speak up against unacceptable behaviour

19th November 2019

The specialist Lloyd's of London insurance and reinsurance marketplace has launched a new campaign designed to encourage people to speak out against unacceptable behaviour. The campaign, #SpeakUp, has been launched by Lloyd's in order to underline the importance of speaking up and to provide clear guidance on how people can take ... Read the full article

MS&AD takes $1.6bn hit on MS Amlin’s Lloyd’s, European profitability

19th November 2019

MS&AD Insurance Group Holdings has announced that MS Amlin's European primary insurance and Lloyd's business have been less profitable than it anticipated when acquired, and as such, an impairment loss of 175.4 billion yen (USD 1.6 billion) has been recognised as an extraordinary loss. The announcement comes as part of the ... Read the full article

AXA to underwrite THB’s Fleet UK product

19th November 2019

Global insurer AXA is to underwrite Lloyd’s wholesale broker THB’s Fleet UK product, as part of a new partnership deal. THB says the decision to pair with AXA originates from wanting to partner with a fleet insurer that values underwriting expertise, as well as AXA’s commitment to offering flexible solutions for ... Read the full article

LMA cyber clauses provide clarity for property and marine

15th November 2019

The Lloyd’s Market Association (LMA), an organisation set up to represent the interests of the Lloyd's community, has published a number of new clauses for the property and marine markets that aim to provide clarity for cyber coverage under first-party property damage policies. The publication comes as part of a push ... Read the full article

Chubb appoints Jason Keen to lead global markets division

14th November 2019

Global re/insurer Chubb has announced the appointment of Jason Keen as president of its global markets division, effective early 2020. Keen will oversee and lead the strategy and performance of the division, which comprises Chubb’s London market wholesale and specialty business including the firm's Lloyd’s platform. He has served with the firm ... Read the full article

SSL Endeavour to launch Miami MGA, names senior leadership

13th November 2019

SSL Endeavour, the specialist independent Lloyd’s broker and delegated authority expert, is set to establish a Miami-based managing general agent focused on building construction, energy and power generation business throughout Latin America. Due to launch on 1 January 2020, the MGA will exist under a yet-to-be-confirmed brand name. SSL Endeavour says it ... Read the full article

Praedicat to develop named peril casualty product from Lloyd’s Lab

13th November 2019

Praedicat, a risk analytics and modelling company for casualty re/insurers and industrial firms, has announced that it plans to develop a new named peril casualty product in the Lloyd’s Lab. Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, selected Praedicat as part of the third cohort ... Read the full article

Re/insurers risk irrelevance through ‘business as usual’ mindset: John Neal

13th November 2019

Re/insurance companies risk becoming irrelevant in the eyes of their customers if they decide to carry on with a ‘business as usual’ approach, despite the many challenges that face the industry today. This is according to John Neal, Chief Executive Officer (CEO) of insurance and reinsurance marketplace Lloyd’s of London, who ... Read the full article

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