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.

Wakam’s Syndicate 1347 receives Lloyd’s approval

20th December 2022

European B2B2C insurer Wakam, has announced that Wakam’s Syndicate 1347 has received Lloyd’s approval to start underwriting for the 2023 year of account. The syndicate was launched under Lloyd’s Syndicate in a Box (SIAB) initiative and will operate on the Lloyd’s platform. It will be managed by Polo Managing Agency (PMA), ... Read the full article

Lloyd’s Council grants approval to Lime Syndicate Management

13th December 2022

Lloyd’s Council has granted ‘in principle’ approval to Lime Syndicate Management to be the first managing agency in Lloyd’s since Reconstruction & Renewal over 25 years ago, established solely to provide management services for third-party syndicates. A statement from Lime SM said that its technology solution JUICE provides a cost-effective, legacy-free ... Read the full article

Trawick Intl. receives approval as Lloyd’s Coverholder

13th December 2022

Trawick International has announced that it has received delegated authority as an approved Lloyd’s coverholder. As a coverholder, Trawick International is now part of Lloyd's foremost global network. The company also now holds the authority to underwrite and issue policies on behalf of Lloyd's. At the same time, this appointment grants Trawick ... Read the full article

Lloyd’s elects Richard Dudley as Council member

12th December 2022

Richard Dudley, Global Head of Climate Strategy at Aon, has been elected as a Working Member of the Lloyd’s Council, effective 1 February 2023. Dudley has been working in the Lloyd’s market, the world’s leading marketplace for commercial, corporate and specialty risk solutions, for nearly three decades and currently sits on ... Read the full article

Beazley Smart Tracker Syndicate 5623 given Lloyd’s approval

8th December 2022

Beazley Smart Tracker Syndicate 5623 has been granted Lloyd’s approval, meaning it will move from a Special Purpose Arrangement to full syndicate status. A statement from Beazley said that the approval will be effective from the beginning of January. Adrian Cox, CEO Beazley, said: “As a pure follow syndicate, 5623 offers a ... Read the full article

Lloyd’s has headroom to sensibly grow catastrophe book: Tiernan

7th December 2022

The Lloyd's insurance and reinsurance market has "headroom" to grow its catastrophe book of business sensibly in the hardening market, according to Chief of Markets Patrick Tiernan. Tiernan was speaking this morning during his delivery of a Q4 message to the market and explained that despite plans being submitted for the ... Read the full article

All London market tech partners now support Blueprint Two solutions: Lloyd’s

6th December 2022

The specialist Lloyd’s insurance and reinsurance marketplace has confirmed that all London market technology vendors that interact with the existing central services have pledged their intent to introduce changes to their platforms to accommodate the new Blueprint Two solutions for the London insurance market. According to Lloyd's, Blueprint Two will digitalise ... Read the full article

AXA XL hires Leemans as Head of Cyber, UK & Lloyd’s

25th November 2022

AXA XL has appointed Vanessa Leemans as Head of Cyber, UK & Lloyd’s, effective immediately. Within this new role, Leemans will be responsible for leading AXA XL’s cyber business in the UK, as well as driving its strategic and profitable development. Overall, Leemans brings 20 years of industry experience towards the role. ... Read the full article

Lloyd’s Market Association announces renewed approach to membership

22nd November 2022

The Lloyd’s Market Association’s (LMA) Worldwide Property Business Panel (WPP) has announced that it is putting all places up for election and will be asking LMA members to elect managing agents, instead of individuals. It will be the responsibility of each elected managing agent to then put forward the most suitable ... Read the full article

Lloyd’s syndicates to generate “respectable” returns despite Ian: Argenta

18th November 2022

Analysts at Lloyd’s managing agent Argenta believe that Lloyd’s syndicates could still provide “respectable” returns to capital for underwriting members for the 2022 year, despite the impacts of Hurricane Ian. The comments came as part of Argenta’s analysis of Lloyd’s syndicate forecasts for the 2020 and 2021 years of account, which ... Read the full article

Trium Cyber syndicate 1322 approved to underwrite at Lloyd’s

17th November 2022

Trium Cyber syndicate 1322 has been given final approval by Lloyd’s. The third-party managing agent Asta said that the risk carrier had received permission to commence underwriting business on or after 1 January. It said that Trium Cyber plans to write $50m of gross premiums during its first year. All business will ... Read the full article

LMA publishes Consumer Duty guidance for Managing Agents

19th October 2022

The Lloyd’s Market Association (LMA) has published a general guidance document for the implementation of the FCA Consumer Duty, which has been gradually introduced over the past year in a series of policy announcements. The Consumer Duty sets standards of care that firms are required to give retail customers, including that ... Read the full article

Hampden rebrands Verto syndicate to Hampden Risk Partners

13th October 2022

Hampden Group has said that it is to rebrand its follow-only syndicate Verto (Syndicate 2689) to Hampden Risk Partners. The company said in a statement that the rebrand would better identify the syndicate with the Hampden Group and focus its purpose in terms of relationships with underwriting partners and capital support. It ... Read the full article

Liberty Specialty Markets launches new project cargo consortium at Lloyd’s

12th October 2022

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance’s Global Risk Solutions division, has announced the launch of a new Lloyd’s facility for the London Market – the Liberty Project Cargo Consortium (LPCC), to underwrite global project-related cargo risks. The facility, Consortium 7763, offers capacity to underwrite risks up to $205 ... Read the full article

Lloyd’s to collaborate on space sustainability initiative

7th October 2022

In partnership with Lloyd’s Market Association (LMA), Lloyd’s has announced it will collaborate with the UK Government and industry experts on the development of the Earth & Space Sustainability Initiative kitemark. At the same time, it is also launching ‘Our Fragile Space’ exhibition, led by renowned science communicator and space photographer ... Read the full article