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.

Lloyd’s, AIR target greater supply chain resilience

10th October 2019

A new framework designed to help both risk managers and insurers close the supply chain risk protection gap has been co-produced by the specialist Lloyd's of London re/insurance marketplace and catastrophe risk modeller, AIR Worldwide. A new report from Lloyd's and AIR Worldwide, Hidden Vulnerabilities in Supply Chain Risk: A quantitative ... Read the full article

Lloyd’s chairman Carnegie-Brown takes on role at auto insurtech Cuvva

10th October 2019

Bruce Carnegie-Brown, the Chairman of specialist re/insurance marketplace Lloyd's of London, has taken on a new role at auto insurtech Cuvva, The Financial Times has reported. App-based Cuvva allows users to purchase car insurance by the hour, day, week or month and was founded in 2014 by Freddy Macnamara and James ... Read the full article

Marine market is still adjusting to ongoing Lloyd’s efforts: Marsh JLT Specialty

10th October 2019

The Marine market continues to adjust to the efforts of the Lloyd's of London market to improve profitability, and as dedicated marine syndicates continue to close, Marsh JLT Specialty has questioned what is at stake should pricing remain at current levels. In response to falling profits driven in part by underperforming ... Read the full article

Canopius wraps up Lloyd’s merger with AmTrust

3rd October 2019

Global specialty re/insurer Canopius Group has completed its previously-announced merger with AmTrust's Lloyd's operations. The merger between Canopius Lloyd’s Syndicate 4444 and AmTrust Syndicate 1861 was first announced back in April and will result in the establishment of a top-five Lloyd’s insurer with combined premiums of roughly £2.2 billion. It is believed ... Read the full article

Market groups commend collaborative approach of Lloyd’s Blueprint One

1st October 2019

Representatives from various market groups have released statements commending the approach proposed by Lloyd’s Blueprint One, which outlines the first phase of the marketplace’s new strategy for change. Industry executives praised the collaborative approach utilised by Lloyd’s, which says it has attempted to respond to the demands of the market. “This Blueprint ... Read the full article

Munich Re sponsoring first Syndicate-in-a-Box at Lloyd’s

1st October 2019

Insurance and reinsurance marketplace Lloyd’s of London has announced that Munich Re will launch the first new ‘Syndicate-in-a-Box’ through its established Lloyd’s vehicle Munich Re Syndicate Limited. The announcement was made as part of the release of Blueprint One yesterday, which outlines how the first phase of Lloyd's strategy for ... Read the full article

Lloyd’s outlines strategy for change in Blueprint One

30th September 2019

Insurance and reinsurance marketplace Lloyd’s of London has released a new document outlining how the first phase of its strategy for change will be delivered, following the launch of the Future at Lloyd's prospectus back in May. Blueprint One proposes to enhance Lloyd’s value proposition to customers by offering better ... Read the full article

London Market Group to end TOM modernisation program

27th September 2019

The Board of the London Market Group (LMG) has confirmed today that the Target Operating Model (LM TOM) has been wound down in its current form, having delivered the majority of proposed solutions. The LM TOM was considered a core component of the market modernisation proposal, set out by the LMG, ... Read the full article

Lloyd’s to continue leveraging MIS’ satellite imagery service

27th September 2019

McKenzie Intelligence Services (MIS), a provider of imagery and geospatial intelligence, has been highlighted by Lloyd’s as a key component of its ongoing modernisation drive. Back in May, Lloyd’s announced a new strategy focused on delivering higher quality risk protection for the market’s clients. The six proposed transformational initiatives contained within ... Read the full article

Price Forbes acquires stake in HK broker Sino

25th September 2019

Independent Lloyd's of London insurance broker Price Forbes has purchased a minority stake in Hong Kong-based Sino Insurance and Reinsurance. Since its founding in 2006, Sino has focused on providing risk management and insurance solutions for Chinese multinational companies’ overseas investments and infrastructure construction, engineering, project management, and various aspects of ... Read the full article

Lloyd’s announces new parametric solution targeting hotel profit protection

24th September 2019

The specialist Lloyd's of London insurance and reinsurance marketplace has announced the launch of the first policy developed by Lloyd's Product Innovation Facility, a parametric solution targeting the hotel industry. The Lloyd's Product Innovation Facility was launched in June of this year to accelerate the development of re/insurance solutions for new ... Read the full article

LMA heads pledge support to Lloyd’s harassment actions

24th September 2019

The Board of the Lloyd’s Market Association (LMA) has pledged to work actively through a CEO reporting network to tackle sexual misconduct in the market, following the implementation of new inclusivity measures at Lloyd’s. Lloyd’s said earlier today that it would introduce the new program of measures after the results ... Read the full article

Lloyd’s harassment survey prompts stronger inclusivity measures

24th September 2019

Lloyd’s of London has announced a new program of measures to foster a safer and more inclusive working environment after the findings of a recent survey revealed widespread issues regarding sexual harassment and employee wellbeing in the marketplace. The culture survey, which was commissioned by Lloyd’s in the wake of public ... Read the full article

Lloyd’s performance improvements not yet sufficient, says KBW

20th September 2019

Analysts at Keefe, Bruyette & Woods (KBW) have contended that the Lloyd’s of London results for the first half of 2019 show necessary but insufficient improvements in the performance of the insurance and reinsurance marketplace. Lloyd’s released its H1 results earlier this week, reporting a £2.3 billion profit before tax, ... Read the full article

Nephila looks to reduce Lloyd’s costs with finance platform from Phinsys

19th September 2019

Nephila Syndicate Management Ltd (NSML) has selected the suite of finance and accounting products from software provider Phinsys to help streamline its financial processes and automate statutory, regulatory and management reporting. Nephila Syndicate 2357 is set to migrate from third party management to its own independent managing agency in October, and ... Read the full article

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