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.
HPG Members to provide Funds At Lloyd’s to support underwriting capacity
11th December 2023
High Premium Group (HPG) members have clubbed together to provide Funds At Lloyd's (FAL) to support approximately £5 million of underwriting capacity in three Lloyd's Syndicates. The group, led by Dhruv Patel OBE, Deputy Chair of HPG and a Director of the Association of Lloyd’s Members (ALM), used their collective expertise ... Read the full article
Africa Specialty Risks receives ‘in-principle’ approval to launch Lloyd’s syndicate
8th December 2023
Pan-African focused insurer and reinsurer, Africa Specialty Risks (ASR), has now received ‘in-principle’ approval to launch a Lloyd’s syndicate in 2024, which aims to begin underwriting in March 2024 with a focus on underwriting business across Africa. The ‘in-principle’ approval from the Lloyd's Council remains subject to additional financial and operational ... Read the full article
Next phase of Blueprint Two to launch in April 2025: Lloyd’s
7th December 2023
After a request from the Lloyd’s Market Association (LMA) Board, Velonetic and the Lloyd’s marketplace have decided to move the launch date of phase two of Blueprint Two digital services (which includes the Digital Gateway) to April 2025. Earlier this year, it was confirmed that the Blueprint Two digitalisation programme will ... Read the full article
Jonathan May to succeed Amélie Breitburd as Lloyd’s Europe CEO
7th December 2023
Jonathan May, currently Chief Financial Officer (CFO) and Chief Operations Officer (COO) for Lloyd’s Europe, will take over from Amélie Breitburd as the new Chief Executive Officer (CEO) of the European subsidiary on January 1st, 2024. Breitburd is set to leave Lloyd's Europe (Lloyd’s Insurance Company (LIC), operating from Brussels) on ... Read the full article
Argenta and Helios partner to provide investors unique access to Lloyd’s market
5th December 2023
FCA-regulated adviser to Lloyd’s investors, Argenta Private Capital Limited (APCL), has partnered with Helios Underwriting to provide investors with a "unique way to access the Lloyd’s of London market." APCL explained that this exclusive arrangement with Helios will enable its clients to participate in a portfolio of syndicates, curated by Helios’ ... Read the full article
For cyber to grow at Lloyd’s we must manage our potential risks: Patrick Tiernan
4th December 2023
Speaking at Lloyd's Q4 2023 Market Message, Patrick Tiernan, Chief of Markets, explained that cyber underwriting will remain a key clear focus class of growth for 2024. Tiernan stated that for 2024, plan GDP growth is shy of 20%, which remains on par with the growth that Lloyd's witnessed in 2023. He ... Read the full article
Lloyd’s Europe names Hanna Norumhas as the General Representative for Norway
1st December 2023
Hanna Norumhas has been appointed as the General Representative for Norway, by Lloyd’s Insurance Company S.A. (Lloyd’s Europe). This appointment follows the retirement of Espen Komnaes, and is effective starting December 1st 2023. Most recently, Norumhas served as a Partner at Advokatfirmaet Berngaard AS, previously she has also served as the Senior ... Read the full article
Howden unveils primary cyber & technology E&O facility with Lloyd’s
24th November 2023
Global broker Howden has announced that it has launched a new primary cyber and technology errors & omissions (E&O) facility. The facility has been developed in conjunction with the Lloyd’s Insurance Company According to the announcement, the product has been designed for a wide range of cyber and technology risks across 14 different ... Read the full article
Phoenix Group appoints Lloyd’s CIO Eleanor Bucks as Board member
24th November 2023
The Phoenix Group Holdings plc, a major UK life and retirement, risk transfer and savings company, has appointed Eleanor Bucks as an independent Non-Executive Director. The appointment is effective starting 1st December 2023. Alastair Barbour, Chair of Phoenix Group, commented on the appointment, "We are delighted that Eleanor has agreed to join ... Read the full article
Lloyd’s syndicate forecasts showing continuous improvements, says Argenta
23rd November 2023
Lloyd’s has released the updated forecasts for all syndicates’ 2021 and 2022 years of account. Argenta Holdings Ltd., an underwriting and insurance services group operating in the Lloyd’s Market, and a wholly owned subsidiary of reinsurer Hannover Re, states that the forecasts for both underwriting years continues to improve. The company noted ... Read the full article
Pen Underwriting takes box at Lloyd’s
22nd November 2023
Arthur J. Gallagher & Co. subsidiary, Pen Underwriting, has taken a box at Lloyd’s as its investment into maximising ease of doing business continues. Pen’s team of specialist marine underwriters will be taking box 393, on gallery 3. Their presence on the trading floor will provide brokers with support in placing ... Read the full article
Lloyd’s to remain at One Lime Street until 2041: Sky News
16th November 2023
The specialist Lloyd's of London insurance and reinsurance marketplace has signed a deal with Ping An to remain at its iconic headquarters until 2041, according to a Sky News report. Sky News claims that after more than a year of negotiating, a long-term deal is closed to being agreed with the ... Read the full article
Lloyd’s confirms changes to Council membership following elections
27th October 2023
London-based marketplace for insurance and reinsurance, Lloyd’s, has announced its most recent changes to its Council membership; all the new terms will commence on 1 December 2023. Sean McGovern was elected unopposed as a “Corporate-External” member of the Council, among other appointments; and Marcus Johnson as “Individual-External” member of the Council. Following ... Read the full article
Ki teams with Travelers & Aspen to expand digital follow capacity
17th October 2023
Ki, the first fully digital and algorithmically-driven Lloyd's of London syndicate, has announced a partnership with Travelers and Aspen which will offer additional follow capacity through its digital platform from January 1, 2024. As a result of this major collaboration, Ki will become the first algorithmic underwriter in the market to ... Read the full article
Lloyd’s new data tool models global economic impact of extreme weather events
11th October 2023
Re/insurance marketplace Lloyd's has launched a systemic risk scenario that models the global economic impact of extreme weather events leading to food and water shocks, estimating the loss to be around $5 trillion over a five year period. According to the announcement, the scenario examines how a hypothetical, but plausible increase ... Read the full article
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