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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.

Markel becomes second syndicate to join Lloyd’s India platform: Reports

24th April 2017

Markel is set to become the second syndicate to join Lloyd's India operations, after the specialist insurance and reinsurance market kicked off its India market expansion in April with MS Amlin as the first syndicate to join its newly launched domestic India reinsurance branch, the India Express has reported. Markel International Underwriter, ... Read the full article

Pace of change to accelerate at Lloyd’s as performance deteriorates: Macquarie

19th April 2017

Analysts at Macquarie predict the pace of change at the Lloyd's of London specialist insurance and reinsurance market to accelerate in the coming months after a challenging 2016, underlined by the continued deterioration of underwriting performance. Macquarie believes the Lloyd's marketplace is undergoing a "structural revolution" that is likely to change ... Read the full article

Lloyd’s prepared to negotiate with Indian regulators: John Nelson

11th April 2017

Lloyd’s Chairman, John Nelson, said in an interview with the India Economic Times, that Lloyd’s would shift away from an India focus mostly surrounding reinsurance and expand into direct and specialist lines, after the first Lloyd’s syndicate, MS Amlin,  joined the India platform. Lloyd’s already writes $220 million in offshore ... Read the full article

Lloyd’s adds new Council and Franchise Board appointments

6th April 2017

Lloyd's of London has named Gregory Fleming as a nominated member of the Council of Lloyd's and Patricia Jackson as an independent non-executive director of the Franchise Board, with the pair set to serve an initial term of three years. Fleming replaces Henrique Meirelles, who stepped down from the Council last ... Read the full article

Lloyd’s India branch opens, welcomes MS Amlin as first syndicate

5th April 2017

Lloyd's of London has officially opened its India branch office today and has welcomed MS Amlin as the first syndicate (which we covered yesterday here) to join the branch and begin underwriting as of the 1st April. A ceremonial Lloyd's policy was signed today and witnessed by the UK Chancellor ... Read the full article

MS Amlin the first to launch on Lloyd’s India platform

4th April 2017

Commercial insurance and reinsurance specialist MS Amlin is the first company to have been welcomed to the new Lloyd's of London India branch office. According to an announcement from the UK Department of Trade, the news that MS Amlin would be the first syndicate manager to operate out of the Lloyd's ... Read the full article

Investments offset underwriting decline at Lloyd’s of London

30th March 2017

The Lloyd's of London market announced its results today, revealing a decline in its underwriting profitability as the combined ratio increased to 97.9%, but pre-tax profits were flat at £2.1 billion as investment returns jumped. The fact that underwriting has become increasingly less profitable at Lloyd's of London, on a market-wide ... Read the full article

Lloyd’s of London chooses Brussels for EU base

30th March 2017

The specialist Lloyd’s of London insurance and reinsurance market has selected Brussels, Belgium as its European Union home with the aim being to be ready to underwrite business there for the 1st January 2019 renewal season. Lloyd's has been looking for an EU base for a subsidiary insurance company, to secure ... Read the full article

Re/insurers’ future in combining risk reduction and transfer: RMS Exceedance conference

29th March 2017

Speaking to A.M. BestTV at the RMS Exceedance 2017 conference, insurers and risk modelers said risk professionals are shifting their focus to emphasize risk reduction as part of a more comprehensive insurance cover plan. Robert Muir Wood, RMS, said the future of insurance was in “how you combine risk reduction and risk ... Read the full article

Lloyd’s obtains licence to operate as a reinsurer in Nicaragua

29th March 2017

The specialist Lloyd's of London insurance and reinsurance marketplace has been granted a licence by the Nicaraguan insurance regulator, Superintendencia de Bancos y Otras Instituciones Financieras (SIBOIF), to operate as a foreign reinsurer in Nicaragua. In July 2015 new regulation from SIBOIF saw the establishment of a register for foreign reinsurance entities and ... Read the full article

City policyholders should bolster infrastructure resilience: Lloyd’s

27th March 2017

In a recent report on risk management of city infrastructure, Lloyd’s of London stressed cities needed to take a more comprehensive approach to build risk resilience, and highlighted ways the insurance industry and stakeholders could collaborate more closely to improve infrastructure management. With booming populations, cities are especially vulnerable to disaster exposure, ... Read the full article

Study suggests £4 billion Brexit impact to London reinsurance market

24th March 2017

As Britain prepares to release the final Article 50 trigger to kick-off EU exit negotiations and the City of London braces for the anticipated knock-on blow, London School of Economics (LSE), Financial Markets Group director, Simeon Djankov, has set ensuing annual reinsurance revenue loss estimates at £4 billion. London's finance sector ... Read the full article

Lloyd’s to announce location of EU subsidiary by end of month: Reports

24th March 2017

The specialist Lloyd's of London insurance and reinsurance marketplace is to reveal the location of its post-Brexit EU subsidiary on the same day Prime Minister Theresa May triggers Article 50, which marks the start of the official UK Brexit process, according to Sky News. The Lloyd's council is due to meet ... Read the full article

IUA & LMA Boards approve Single Claims Agreement Model for London market

23rd March 2017

The Boards of the International Underwriting Association of London (IUA) and the London Market Association (LMA) recently approved a proposal from the London & International Insurance Brokers' Association (LIIBA), and the broking community to develop a Single Claims Agreement Model in the London market. The proposal aims to establish a single ... Read the full article

Hannover Re acquires Lloyd’s firm Argenta Holdings

20th March 2017

Hannover Re has agreed to acquire UK holding firm Argenta Holdings - the owner of managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd's syndicate Argenta Syndicate 2121. According to Argenta, Lloyd’s Syndicate 2121 has a stamp capacity for 2017 of £300 million. The firms ... Read the full article

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