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 names Rebekah Clement as Corporate Affairs Director
12th July 2023
Lloyd's, the global insurance and reinsurance marketplace, appointed Rebekah Clement to the newly created role of Corporate Affairs Director, effective immediately. In this position, Clement will report directly to Lloyd's CEO, John Neal. The establishment of a dedicated Corporate Affairs function aims to consolidate Lloyd's capabilities across government policy, external stakeholder ... Read the full article
Specialty MGA UK gets Lloyd’s accreditation
7th July 2023
Recently formed Specialty MGA UK, which is focused on providing additional capacity for specialty lines of businesses, has been approved as a Lloyd’s Coverholder. After being set up last year, Lloyd’s accreditation represents another significant step for the company as it builds its international offering. Philippe Bara, Chief Underwriting Officer at ... Read the full article
Average ROE of reinsurers in Fitch peer group decreased to 1.2% in 2022
6th July 2023
A group of reinsurers in Fitch Ratings' universe saw their average return on equity (ROE) fall from 8.5% in 2021 to 1.2% in 2022 as mark-downs on investments, high inflation and increased losses from natural catastrophes drove a significant dip in profits. The global reinsurance companies in the peer group are ... Read the full article
IRL becomes first ever InsurTech-focused broker to enter the Lloyd’s market
23rd June 2023
Innovative Risk Labs (IRL), a leading InsurTech specialist dedicated to launching, incubating and supporting start-ups in the insurance technology space, has secured a license to operate within the Lloyd’s market. This “ground-breaking achievement” makes IRL the only exclusive InsurTech-focused broker permitted to conduct trade within the Lloyd's market. Under the leadership of ... Read the full article
Aon & Lloyd’s collaborate with VIG to support Ukraine’s reconstruction
21st June 2023
Global professional services firm Aon and Lloyd’s have announced a collaboration with Vienna Insurance Group (VIG) to bolster Ukraine’s economic resilience and support the country’s recovery and reconstruction. As part of the UK-Ukraine Private Finance Partnership, both Lloyd’s and Aon have committed to deliver fast-track access to supplementary foreign re/insurance capacity, ... Read the full article
Andy Rear & Will Allen reveal plans for significant new Lloyd’s re/insurance start-up
21st June 2023
More than a year after its initial public offering (IPO), special purpose acquisition company (SPAC), Financials Acquisition Corp, has asked for approval to extend its business combination deadline to the end of 2023, as it lays out plans to establish a £1 billion listed Lloyd's vehicle. Financial Acquisition Corp is sponsored ... Read the full article
Lloyd’s partners with DET to drive growth opportunities for insurtechs in Dubai
13th June 2023
Lloyd's, the global insurance and reinsurance marketplace, has entered into a new partnership with Dubai’s Department of Economy and Tourism (DET) to develop a Dubai Insurtech Enablement Platform, designed to facilitate holistic growth opportunities for insurtech start-ups and entrepreneurs in the region. The pair have signed a Memorandum of Understanding which ... Read the full article
100+ underwriters help UNDP insure FSO Safer operation
12th June 2023
More than 100 underwriters have been involved in the successful binding of insurance coverage for the FSO Safer operation, enabling the United Nations (UN) to proceed with an emergency ship-to-ship transfer to avert an oil spill that would amount to one of the world’s largest man-made environmental disasters in history. Led ... Read the full article
Catastrophe loss picks and outwards reinsurance in focus for Lloyd’s: Tiernan
8th June 2023
Patrick Tiernan, Chief of Markets at Lloyd’s, explained this morning that catastrophe loss exposure remains a key focus at the insurance and reinsurance marketplace, with loss picks set to be continually scrutinised. Delivering a May market message, Tiernan said that in the past Lloyd's has seen catastrophe losses exceeding plan and ... Read the full article
Vesttoo completes $120m casualty quota share renewal for leading Lloyd’s syndicate
5th June 2023
Vesttoo, an insurance risk transfer and investment platform, has announced the completion of a successful $120 million renewal of quota share reinsurance cover for a leading London Lloyd's syndicate. The transaction, which was brokered by Howden Tiger, demonstrates continued global demand to bridge the insurance and capital markets. According to the announcement, ... Read the full article
Argenta Private Capital announces integration of tax and corporate services unit
31st May 2023
Argenta Private Capital Limited (APCL), an advisor to private investors at Lloyd’s, has integrated its tax and corporate services units to better support clients’ ever-changing needs. Argenta Tax and Corporate Services Limited (ATCSL) provides tax, accounting and company secretarial services primarily to the Lloyd’s market and has a reputation within the ... Read the full article
Stability and relative performance key factors in Lloyd’s follow-only underwriting decisions: ICMR
31st May 2023
In the ever-evolving world of insurance underwriting, traditional practices have given way to technological advancements. While brokers once had to physically visit Lloyd's underwriting room to seek follow capacity, the landscape has shifted dramatically. Nowadays, online broker platforms allow for risk placement, enabling underwriters to access crucial information through APIs. However, ... Read the full article
Lloyd’s becomes the 10th major player to mark its exit from NZIA
30th May 2023
Lloyd's announced its resignation as a member organisation from the Net Zero Insurance Alliance with immediate effect on Friday. This makes it the tenth major insurance and reinsurance player to offer its resignation since last week. Lloyd’s, the insurance and reinsurance market in London, mentioned in a statement that it will ... Read the full article
Lloyd’s appoints Beazley’s Rachel Turk as new CUO
25th May 2023
Lloyd’s has appointed Rachel Turk as Chief Underwriting Officer (CUO), reporting to Chief of Markets Patrick Tiernan. In her new role, Turk will be responsible for managing the performance of the Lloyd’s market, including leading the underwriting function to support the Corporation’s strategic goals. She will also be responsible for leading the ... Read the full article
Canopius launches digital asset custody product on Lloyd’s Asia platform
22nd May 2023
Global specialty re/insurer Canopius has announced it will underwrite its digital asset custody product from Singapore, noting it is the first carrier on the Lloyd’s Asia platform to provide coverage locally. The launch marks an extension of the product Canopius Syndicate 4444 underwrites in London, catering to a growing demand from ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
