Reinsurance 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.
5th March 2019
Lloyd’s Brussels, a recently-launched subsidiary designed to place and process European business post-Brexit, has received authorisation to underwrite re/insurance risks located in Monaco. The subsidiary has appointed France Country Manager Guy-Antoine de La Rochefoucauld as its General Representative for Monaco and as its fiscal representative for the territory. Lloyd’s Brussels is not, ... Read the full article
4th March 2019
Lloyd’s managing agency AEGIS London has announced the appointment of Tom Squires as Head of Digital Trading, a newly created role. Squires, who previously served as AEGIS London’s Deputy Head of Casualty, will oversee the firm’s online quote-and-bind platform OPAL (Online Platform Aegis London). “We are investing in digital trading across the ... Read the full article
1st March 2019
Marine insurer Skuld is to cease underwriting business from its Lloyd’s Syndicate 1897 from 1 July 2019 in an effort to improve profitability. Skuld will instead underwrite all hull and offshore energy business on the A-rated corporate paper of Skuld Assuranceforeningen, through Skuld UK in London and SMA in Oslo. “Our overriding ... Read the full article
25th February 2019
Global specialty re/insurer Brit Limited has completed the fifth annual renewal and expansion of its Versutus sidecar, bringing the total amount of third-party capital under management to $440 million. This capacity is spread across the Versutus 2019, Sussex Capital (its multi-use collateralised reinsurance PCC vehicle in the UK) and its Lloyd's Syndicate ... Read the full article
21st February 2019
Eurobase International Group, an international software and service provider to financial institutions, has announced that its Synergy2 platform is the first to go into production with integrated Structured Data Capture (SDC), allowing for the delivery of straight-through processing for risk creation via the Global Placement Message (GPM). SDC is an online ... Read the full article
15th February 2019
Specialty insurance and reinsurance group Lancashire Holdings intends to use Lloyd’s recently established European hub in Brussels to write business after the UK leaves the European Union, according to reports from Reuters. Speaking in an interview with the publication, Alex Maloney, Chief Executive Officer (CEO) at Lancashire, said: “We have negotiated ... Read the full article
12th February 2019
Ascot and Beazley have partnered on the launch of a new Lloyd’s based cargo consortium that uses insurtech solutions to help manage risk and claims performance. The A2B consortium, which aims to cement Lloyd’s position in the global cargo market, brings together a range of carriers to provide a maximum of ... Read the full article
8th February 2019
SCOR-backed Channel Syndicate 2015 (Channel) at the specialist Lloyd's of London re/insurance marketplace, has announced the appointment of Nick Forti as Active Underwriter, effective March 19. He joins from Brit syndicate 2988, where he also served as an Active Underwriter, and will report to the Chief Executive Officer of Channel, Stuart ... Read the full article
7th February 2019
The Chief Executive Officer (CEO) of the Lloyd's Market Association (LMA), Sheila Cameron, has urged for the establishment of a seamless, digital re/insurance marketplace in London. Addressing an audience at the Insurance Network's TINtech conference, Cameron called for a digital market where processing tasks are linked seamlessly, which in turn would ... Read the full article
6th February 2019
Insurance and reinsurance marketplace Lloyd’s of London has confirmed the appointment of David Duclos as Non-Executive Chairman of Lloyd’s Global Network, effective immediately. In this role, Duclos will serve as a key advisor in the development of Lloyd’s international network. He has more than 40 years’ experience in the international re/insurance industry, ... Read the full article
5th February 2019
Specialty insurer ProAssurance Corporation is to review its strategic options regarding its Lloyd's of London investment, following a disappointing performance by its Lloyd's Syndicates segment in the fourth-quarter of 2018. During its third-quarter 2018 conference call ProAssurance forecast losses of roughly $3.2 million within its Lloyd's Syndicates segment. However, after receiving ... Read the full article
5th February 2019
The Board of Placing Platform Limited (PPL) has released new data for the fourth quarter of 2018 showing that adoption levels among both Lloyd’s syndicates and International Underwriting Association (IUW) companies exceeded targets. Syndicates accepted an average of 39% of in scope risks through electronic placement in Q4, while IUW companies ... Read the full article
4th February 2019
Burkhard Keese has been appointed Chief Financial Officer (CFO) of Lloyd’s following unanimous approval by Council members. Keese, who joins from Allianz Deutschland AG after seven years in the CFO position, will take take up his new role on 1 April 2019. During his time as CFO at Allianz Deutschland Keese successfully ... Read the full article
31st January 2019
Insurance and reinsurance marketplace Lloyd’s of London is expecting to have completed the transfer of policies to its new Brussels subsidiary by the end of the Brexit transition period in 2020, according to Hayley Spink, Director of Lloyd’s Brexit Programme. Speaking as part of a panel at the Fitch Insurance Roadshow ... Read the full article
31st January 2019
The Prudential Regulation Authority (PRA) believes Lloyd's and the wider UK insurance industry can do more to ensure the effective management of affirmative and non-affirmative (silent) cyber risk exposures, ordering firms to develop an action plan in the first half of 2019, with clear milestones and dates by which action ... Read the full article
