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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.

Blenheim Syndicate increases capacity, strengthens property team

12th November 2019

Blenheim Syndicate 5886 at Lloyd's of London has announced an increase in capacity to £250 million for 2020, as well as the addition of Simon Anthony to its property team. Asta-backed Blenheim Syndicate 5886 commenced underwriting from Jan 1st, 2017 with underwriting capacity of £150 million. For next year, the syndicate ... Read the full article

Improvements to Tokio Marine Kiln syndicates on back year releases

11th November 2019

The latest Lloyd's of London syndicate results and forecasts from Tokio Marine Kiln (TMK) reveals improvements to Syndicates 510 and 557 for the 2017 Year of Account. Improvements to both Syndicate 510 and 557 for the 2017 Year of Account was driven by back year releases, says TMK. Starting with the 2017 ... Read the full article

PPL adoption continues to rise in Q3, changes to syndicate leaderboard

11th November 2019

Lloyd’s of London Syndicates accepted 65% of in scope risks through electronic placement during the third quarter of 2019, while the use of Placing Platform Limited (PPL) amongst the International Underwriting Association (IUA) companies increased to 53%. This is according to LMG’s latest market-wide data for risks placed electronically in Q3 ... Read the full article

Epitaph of Lloyd’s prematurely written several times before: Roundtable

8th November 2019

As the Lloyd’s of London wades into a pivotal phase of digital transformation, key industry executives speaking at the 2019 Reinsurance News Monte Carlo Rendezvous Roundtable reflected on how and why the marketplace will remain key to the industry for years to come. “I think over the course of ... Read the full article

Decision to support Lloyd’s Blueprint very easy. There is no choice: Robert Childs, Hiscox

8th November 2019

Hiscox Chairman and Deputy Chairman of Lloyd’s Robert Childs has explained how supporting the market's modernisation Blueprint was a given, considering its need to adapt. Childs, speaking yesterday in Bermuda at the PwC Insurance Summit, was asked about Lloyd's mission to become increasingly efficient and drive change through the insurance and ... Read the full article

Lloyd’s to create single governing body

8th November 2019

Lloyd’s of London has announced ambitious plans to create a single governing body for the Corporation and market by merging the Council and the Franchise board. From June 2020, a new body will consist of six nominated members, six market-elected, and three executives. A statement released by Lloyd’s today describes market support ... Read the full article

Lloyd’s has been too slow reacting to change: CEO John Neal

7th November 2019

Lloyd’s has not reacted quickly enough to changes in the risk landscape and must offer products and services that are more closely aligned with what customers want and need, according to Chief Executive of the marketplace John Neal. Speaking at a lecture today in Lloyd’s Old Library building, Neal emphasised the ... Read the full article

Lloyd’s-backed active assailant mitigation program launches

5th November 2019

US security specialist 1st Watch Global has partnered with Pioneer Programs Insurance Solutions and EC3 Brokers on an active assailant prevention program designed to assess the readiness of various public locations for an assault by an active assailant. Assessments, carried out by a team of ex-FBI agents and homeland security professionals, ... Read the full article

Lloyd’s report reveals huge cyber risk protection gap across Asia-Pacific ports

30th October 2019

A single, large cyber-attack hitting major ports across the Asia-Pacific region could cost as much as USD 110 billion, of which just 8% would be covered by insurance, according to a new report produced by the University of Cambridge Centre for Risk Studies, on behalf of the Cyber Risk Management ... Read the full article

Aston Lark acquires Lloyd’s broker Protean Risk

28th October 2019

UK insurance broker Aston Lark has acquired specialist Lloyd’s brokerage Protean Risk, the firm’s first purchase since being acquired by the Merchant Banking division of Goldman Sachs in September. Protean Risk focuses on the investment industry, financial services, fintech and technology sectors and has clients ranging from start-ups to international organisations. Peter ... Read the full article

AEGIS London launches digital trading division

28th October 2019

Lloyd’s managing agency AEGIS London has launched a digital trading division as the firm looks to build on the success of its online quote-and-bind platform Opal. AEGIS London’s head of digital trading Tom Squires will lead the new division with support from digital trading manager Angus Turner and Phil Lucas, business ... Read the full article

London market needs efficiency, Lloyd’s needs to execute: Davies, Xceedance

22nd October 2019

As Lloyd’s and the broader London market strive for greater efficiency, it’s important that the specialist insurance and reinsurance marketplace is successful in at least some areas of its prospectus, says Justin Davies, Head of EMEA at re/insurance service provider, Xceedance. After unveiling its Future at Lloyd’s prospectus back in May, ... Read the full article

Lloyd’s & Habitat for Humanity GB target braver, more resilient communities

21st October 2019

The specialist Lloyd's of London insurance and reinsurance marketplace has entered into a new partnership with Habitat for Humanity Great Britain, designed to help create braver and more resilient communities in climate risk areas. The Lloyd's Charities Trust has launched the new disaster resilience partnership with Habitat for Humanity Great Britain, ... Read the full article

Legal cannabis boom considerable opportunity for Lloyd’s: Clyde & Co

17th October 2019

With upcoming regulatory developments in the US and Canada expected to facilitate a significant growth of the legal cannabis industry over the next five years, Global law firm Clyde & Co sees considerable opportunities for insurers at Lloyd’s. Sales are already projected to grow as much as ten-fold to reach $40 ... Read the full article

London market underwriting to remain under pressure through 2019: Fitch

14th October 2019

Analysts at Fitch Ratings anticipate that underwriting earnings are like to remain under pressure for London market re/insurers through the remainder of 2019. While improved pricing conditions are starting to benefit results, earnings are currently being offset by high expense ratios and lower scope for reserve releases, the rating agency said. London ... Read the full article

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