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 announces first version of its Core Data Record under Blueprint Two
11th March 2021
Lloyd’s has announced the first version of its Core Data Record (CDR), in an effort to standardise data flow through the market. The move is aimed at significantly improving operations, reducing the cost and effort of doing business, and delivering a better service to customers. This represents a new milestone for the ... Read the full article
Lloyd’s updates electronic response targets
5th March 2021
The Lloyd’s of London insurance and reinsurance marketplace has provided another update on its requirements for the use of electronic placements this year. For Q2 and Q3 of this year, syndicates will now have to adhere to an electronic response target of 60% when replying to submissions and quotes from brokers. Details ... Read the full article
Lloyd’s to reopen underwriting room on May 17
1st March 2021
Lloyd's of London has confirmed the reopening of its underwriting room and corporation offices on May 17. The specialist re/insurance marketplace plans to apply a class of business rota during the week and will confirm further details closer to the date. Looking further ahead, there will be additional action over further relaxing ... Read the full article
Lloyd’s reports on inclusivity progress
22nd February 2021
Insurance and reinsurance marketplace Lloyd’s of London says that it has made “notable progress” towards building a more inclusive working environment over 2020. In particular, the results of its 2020 annual culture survey highlight improvements in the experience of women working in the Lloyd’s market over the past 18 months. However, the ... Read the full article
Lloyd’s report highlights risk of cyber-attacks on the industrial sector
16th February 2021
Lloyd’s has partnered with cyber analytics specialist CyberCube and reinsurance broker Guy Carpenter on a new report examining the increasing risk posed by ‘Internet of Things’ devices to industrial and manufacturing businesses. The three firms conducted an analysis detailing scenarios which represent the most plausible routes by which a cyber-attack against ... Read the full article
Lloyd’s launches resilience platform for systemic risks
8th February 2021
Insurance and reinsurance marketplace Lloyd’s of London has announced the launch of Futureset, a new platform and community designed to drive greater societal and economic resilience to some of the largest and most complex global risks. The platform will bring together different perspectives and foster cross-country dialogue to help communities, businesses ... Read the full article
Antares places Lloyd’s China operation into run-off
3rd February 2021
Antares, the Lloyd’s specialist re/insurance subsidiary of QIC Global, has placed Syndicate 1274’s Lloyd’s China operation into run-off. Antares will cease accepting new/renewal business through the Lloyd’s China platform from March 1. Moving forward, Chinese business will be written out of Antares Singapore. Existing policies will continue to provide cover on existing terms ... Read the full article
MS AUL names Vishal Desai CRO, Catherine Scullion Chief Actuary
29th January 2021
Speciality Lloyd’s (re)insurer MS Amlin Underwriting has announced the appointment of Vishal Desai as Chief Risk Officer and Catherine Scullion as Chief Actuary. Desai reports to the company's Chief Executive Officer Johan Slabbert and brings over 18 years’ of general insurance industry experience. He joins in May from the Bank of England ... Read the full article
Lloyd’s names Aviva’s Patrick Tiernan as Chief of Markets
22nd January 2021
The specialist Lloyd's of London insurance and reinsurance marketplace has appointed Aviva's Patrick Tiernan to the newly created role of Chief of Markets, which will see him take oversight of market performance and distribution. Tiernan joins the market from Aviva where he currently serves as Managing Director, UK Commercial Lines & ... Read the full article
THB places first risk with Global Health Risk Facility via Syndicate 1796
18th January 2021
Specialist re/insurance broker THB has placed the first risk with the newly launched Global Health Risk Facility (GHRF). A public-private collaboration developed by insurtech Parsyl, GHRF is designed to help protect and support the global distribution of critical health commodities, including existing and newly-emerging vaccines. THB was approached to put in place ... Read the full article
Lloyd’s CFO Keese predicts strong interest in market’s ILS platform
14th January 2021
As the specialist Lloyd's of London insurance and reinsurance marketplace continues to evolve and enable additional modern ways of insurance financing, interest in the market sponsored London Bridge Risk PCC is expected to be robust, according to Burkhard Keese, Chief Financial Officer (CFO) at Lloyd's. Earlier today, Lloyd's announced that ... Read the full article
Lloyd’s creates London Bridge Risk PCC as regulators approve new mISPV
14th January 2021
In a move which provides investors with easier access to the specialist Lloyd's of London insurance and reinsurance marketplace, regulators in the UK have approved the creation of a new multi Insurance Special Purpose Vehicle (mISPV). As part of the Future at Lloyd's strategy, the receipt of regulatory approval from both ... Read the full article
Aston Lark acquires Lloyd’s broker CRS Yachts
8th January 2021
Aston Lark, a chartered insurance broker backed by Goldman Sachs, has announced the acquisition of Lloyd’s broker CRS Yachts. CRS Yachts is based in London and offers a bespoke service focussed solely on serving superyacht owners. The company will maintain its existing brand but will play an active and significant role in ... Read the full article
Optio establishes European office in Malta
7th January 2021
Specialty MGA and Lloyd’s broker Optio has established a European office in Malta after receiving the necessary regulatory approvals. Optio Europe has been launched to serve as the growth engine for the company’s underwriting and broking portfolios across the region. Optio Europe’s Malta-based team comprises Martin Rimmer as director and general manager ... Read the full article
Lloyd’s to close underwriting room again
5th January 2021
Insurance and reinsurance marketplace Lloyd’s of London has announced that its underwriting room will be closed once again following the introduction of new lockdown measures in the UK this week. The UK Government re-introduced lockdown restrictions yesterday in a bid to control the more infectious COVID-19 variant that has spread in ... Read the full article