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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.

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

Investor consortium to inject $800m of capital into Lloyd’s insurer Inigo: reports

20th November 2020

A Sky News report claims that a consortium of investors are close to reaching an agreement to inject a substantial $800 million (£604m) of capital into specialty insurer Inigo. As we wrote previously, Inigo is set to launch at the specialist Lloyd's of London insurance and reinsurance marketplace after its ... Read the full article

LMA looks to redefine current delegated authority model

19th November 2020

The Lloyd's Market Association (LMA) has launched a new project designed to help redefine the current business and distribution model for delegated authority (DA). The project, named DARE, is being led by the LMA’s recently-formed DA Committee, in partnership with digital transformation technology consultancy 6point6. The project will be acknowledging any ... Read the full article

Lloyd’s expects industry-wide COVID losses to exceed $107bn estimate: reports

19th November 2020

The Chairman of Lloyd's of London, Bruce Carnegie-Brown, said at a recent Reuters event that the global insured loss from the ongoing COVID-19 pandemic will exceed the market's previous estimate of $107 billion. Back in May, the specialist insurance and reinsurance marketplace said that it expects to pay customers up to ... Read the full article

Speciality insurer Inigo set to launch at Lloyd’s following StarStone acquisition

18th November 2020

Speciality insurer Inigo is set to launch at Lloyd's of London following the acquisition of Enstar and Stone Point Capital's managing agency StarStone Underwriting (SUL), along with the right to operate Syndicate 1301. Enstar, Stone Point and venture capital firm Dowling will receive $30 million from the sale of SUL in the form ... Read the full article

COVID-19 could see Lloyd’s look more like a coffee shop again: Carnegie-Brown

16th November 2020

In a recent interview with the Mail on Sunday, Lloyd's of London Chairman Bruce Carnegie-Brown remarked how the historic re/insurance market could end up looking more like a coffee shop again. It's well known that Lloyd's, the oldest insurance market in the world, started life as a coffee shop some 334 ... Read the full article

Lloyd’s syndicate Ki, Howden announce key capacity partnership

9th November 2020

Ki and Howden are entering a long-term partnership that will see Ki contribute substantial capacity over the next three years, a move designed to secure valuable follow capacity for Howden’s clients and business partners. Alongside the agreement, a collaboration between Ki, Howden and Hyperion X will look to develop of a ... Read the full article

AXA XL appoints Welton to key CUO role

5th November 2020

AXA XL has announced the appointment of Peter Welton as Chief Underwriting Officer, Marine, Energy & Aerospace, UK & Lloyd’s market. Welton will look to develop and execute the underwriting strategy for the UK marine, energy & aerospace books and optimising product offering and profitability. The new role will see him lead ... Read the full article

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