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 limits underwriting room access under tier 4 rules
22nd December 2020
Following the introduction of tier 4 COVID restrictions in London this week, insurance and reinsurance marketplace Lloyd’s of London has decided to limit access to its underwriting room to just one day per week. The room will remain open for all classes of business on Wednesdays in order to continue providing ... Read the full article
Lloyd’s ups electronic placement targets to 90% in 2021
21st December 2020
The Lloyd’s of London insurance and reinsurance marketplace has announced an update to its Electronic Placement Mandate, increasing the target on risks bound for all classes to 90% by Q2. The electronic placement target has been 80% of risks bound throughout 2020, and will remain so during the first quarter ... Read the full article
MS Amlin adds Margot Cronin to non-exec board role
17th December 2020
Lloyd’s re/insurer MS Amlin Underwriting has appointed Margot Cronin to its board, effective from January 1. Cronin will join as a notified independent non-executive director and brings over 30 years’ experience to the role. She spent the last 18 years of her executive career with Aviva in several senior, group and regional ... Read the full article
MNK Re adds Bragg, Zarate to international property team
17th December 2020
Specialty Lloyd’s broker MNK Re has added Adam Bragg and Andrea Zarate to its international property team. Bragg will serve as managing director of its international facultative property division and joins from Gallagher Specialty, where he was the head of their Latin American property team. Zarate joins from Lucy A. Raymond and will ... Read the full article
Lloyd’s underlines sustainability, inclusivity targets in ESG report
17th December 2020
Lloyd’s has detailed a number of Environmental, Social and Governance commitments it says will help integrate sustainability and inclusivity into the speciality re/insurancemarketplace’s business activities. Lloyd’s will create a cultural toolkit and set of regularly measured targets, including a phase one target of 35% female representation in leadership positions across the ... Read the full article
Lloyd’s & Parsyl partner on COVID vaccine distribution initiative
15th December 2020
Lloyd’s of London has partnered with supply chain data platform Parsyl to launch an insurance initiative for the distribution of COVID-19 vaccines. The public-private collaboration includes 14 global re/insurers and aims to address critical risks faced by COVID-19 vaccines and other health commodities during distribution. The initiative involves the launch of a ... Read the full article
Lloyd’s insurers to retain more business as pricing improves: analysts
11th December 2020
Analysts at RBC Capital Markets predict that Lloyd’s insurers are likely to retain more business on their own balance sheets as pricing in the market continues to improve. There had been a clear trend of passing more business on to reinsurers as profitability in the Lloyd’s and London markets deteriorated, RBC ... Read the full article
Karen Green & Michael Watson join Council of Lloyd’s
1st December 2020
Insurance and reinsurance marketplace Lloyd’s of London has announced the election of two new corporate external members to the Council of Lloyd’s. Asta Corporate Member Limited, represented by Karen Green, and Flectat Limited, represented by Michael Watson will both commence their terms on December 1st, 2020. Asta and Flectat won the most ... Read the full article
Lloyd’s syndicate Ki binds first risk with AmWINS’ THB
30th November 2020
Ki, the fully digital and algorithmically-driven Lloyd’s of London syndicate, has revealed that it has now bound its first risk with THB, the international broking arm of AmWINS Group, Inc. The risk was bound by the Brit and Google Cloud backed Ki on its fully-aligned Lloyd's Syndicate 1618, with Ki's line ... Read the full article
Lloyd’s, KPMG highlight importance of reputational risk awareness
27th November 2020
Lloyd’s of London has partnered with KPMG on a report examining the ways in which reputational risk landscape has changed over the last decade. The report says risk profiles of businesses continue to evolve faster than ever and that corporate brand and reputation accounts for 25.3% of the market capitalisation of ... Read the full article
We must future-proof Lloyd’s, says CEO John Neal
26th November 2020
As efforts to improve Lloyd's of London's operating performance start to take hold, it's imperative that the specialist insurance and reinsurance marketplace delivers sustainable, long-term profitability, according to its Chief Executive Officer (CEO), John Neal. Addressing the media earlier today, Neal discussed the three-year journey the market's been on to improve ... Read the full article
Lloyd’s post-brexit hub gets final High Court approval
25th November 2020
Lloyd’s of London has received final approval from the High Court of England and Wales to transfer European Economic Area policies to its Belgium-based subsidiary. The establishment of Lloyd's Europe was first announced in the wake of Britain’s vote to leave the EU, driven by an absence of clarity around the consequences ... Read the full article
Howden set to acquire cyber, tech-focused broker Safeonline
24th November 2020
Insurance broker Howden has agreed to acquire specialist broker and Lloyd’s coverholder Safeonline. The deal will see a team of cyber insurance specialists join Howden’s cyber division and is intended to add resources and expertise to the company's presence in the marketplace. Chris Cotterell, Chief Executive Officer of Safeonline will join Howden ... Read the full article
Lloyd’s syndicate Ki goes live with broker trading partners
23rd November 2020
Digital Lloyd’s syndicate Ki has onboarded its initial broker trading partners, providing access to its algorithmic underwriting ahead of the upcoming January 1 renewals. Broking partners include Aon, Aon Re, BGCI, including Ed and Besso, Bishopsgate, BMS, Gallagher, Guy Carpenter, Howden, Lockton, Lockton Re, Marsh, Miller, Price Forbes, AmWins / THB, ... Read the full article
New Lloyd’s re/insurer Inigo confirms $800m launch ahead of Jan 1 renewals
23rd November 2020
New specialty insurer Inigo has confirmed the successful raising of $800 million from a consortium of global investors, providing the firm with the capital base required to proceed with its plans to open for business in the 2021 year of account. After reports started to circulate last week over a ... Read the full article