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.

AXA XL names Sean McGovern as CEO UK & Lloyd’s on a permanent basis

8th July 2020

AXA XL, the property & casualty and specialty risk division of AXA, has announced that Sean McGovern has been appointed as Chief Executive Officer (CEO) UK & Lloyd's market on a permanent basis, subject to regulatory approval. McGovern had been operating in this role in an Interim basis for a ... Read the full article

Lloyd’s Lab adds three start-ups to COVID-19 program

6th July 2020

Insurance and reinsurance marketplace Lloyd’s of London has started working with three new insurtech start-ups to help the market respond to the COVID-19 pandemic. As part of a package of measures to respond to the crisis, Lloyd’s has expanded the scope for new applicants to the Lloyd’s Lab innovation accelerator. The ... Read the full article

Airmic endorses Lloyd’s pandemic recovery solutions

3rd July 2020

Airmic, the UK association for risk and insurance professionals, has welcomed Lloyd’s proposals for how the insurance industry can support global economic and societal recovery from the impacts of COVID-19. Earlier this week, Lloyd’s laid out three open source frameworks designed to fast-track global economic and societal recovery from COVID-19, ... Read the full article

Lloyd’s Brussels appoints Country Manager, General Rep. for Spain & Portugal

3rd July 2020

The specialist Lloyd's of London re/insurance marketplace has announced that its Brussels subsidiary, Lloyd's Insurance Company S.A., has named Jose Núñez as its new Country Manager for Spain and Portugal (effective July 1), and General Representative for Spain and Portugal (effective August 3rd). In his new role, Núñez will be based ... Read the full article

COVID-19 losses “entirely manageable” for Lloyd’s: report

2nd July 2020

A new report by Syndicate Research Limited (SRL) has claimed that COVID-19 losses will be “entirely manageable” for re/insurance marketplace Lloyd’s of London in light of the investment market’s recovery. The Lloyd’s Market has estimated pre-tax underwriting losses from COVID-19 of £2.5 billion to £3.5 billion, equivalent to 9.7% to 13.6% ... Read the full article

Beazley wraps up Guidewire London Market ECF Integration

1st July 2020

Specialist insurer Beazley has successfully finalised its claims transformation program, powered by Guidewire ClaimCenter. ClaimCenter is now fully integrated with the London Market Electronic Claims File Write-Back (ECF). Beazley has worked closely with Guidewire to add ECF Write-Back to Guidewire’s London Market claims functionality. This functionality affords Lloyd’s Syndicates and the London company ... Read the full article

Lloyd’s proposes array of COVID-19 recovery solutions

1st July 2020

In a collaborative effort with its UK and Global Advisory Groups, Lloyd's of London has laid out three open source frameworks designed to fast-track global economic and societal recovery from COVID-19. The first is a non-damage business interruption solution called ReStart. Lloyd's says this product would support SMEs reopening and offer a range of ... Read the full article

Jonathan May takes International CFO role at Lloyd’s

26th June 2020

Insurance and reinsurance marketplace Lloyd’s of London has announced the promotion of Jonathan May to the role of International Chief Financial Officer (CFO). As International CFO, May will now be responsible for finance across Lloyd’s international network. May previously served as CFO for the APAC region, having joined Lloyd’s London office in ... Read the full article

Atrium Underwriters adds Chris Stooke as Non-Exec Chairman

26th June 2020

Atrium Underwriters, the managing agent for Lloyd’s Syndicate 609, has announced the appointment of Chris Stooke as Non-Executive Chairman. Effective January 2021, Stooke will replace Steve Cook, who is set to retire at the end of this year. Stooke will work closely with the company's Chief Executive Officer Richard Harries and its ... Read the full article

Lloyd’s to reopen underwriting room in September

26th June 2020

Insurance and reinsurance marketplace Lloyd’s of London has announced that it plans to reopen its London headquarters and underwriting room on September 1, with new safety measures in place. The Lloyd’s underwriting floor at 1 Lime Street has been closed since March 19 due to the ongoing COVID-19 crisis in the ... Read the full article

Nephila to launch specialty syndicate at Lloyd’s, backed by ILS investors

24th June 2020

Insurance-linked securities (ILS) investment manager Nephila Capital has announced that the Lloyd’s Council has approved its plans to form a new syndicate. Nephila’s Lloyd’s managing agency, Nephila Syndicate Management Ltd (NSM), will launch Syndicate 2358 as part of the Future at Lloyd’s initiative. The syndicate will write a diversified portfolio of Lloyd’s ... Read the full article

Probitas 1492 announces plans to launch a new managing agency

19th June 2020

Probitas 1492, an underwriting Syndicate at Lloyd's of London, has announced plans to establish a new managing agent, Probitas Managing Agency Limited (PMAL) to assume the management of Syndicate 1492 from Capita Managing Agency Limited. Lloyd's has granted Probitas 1492 'in principle' approval to establish the new managing agent, PMAL, which, ... Read the full article

Lloyd’s apologises for slavery links

18th June 2020

Insurance and reinsurance marketplace Lloyd’s of London has apologised for its links to the slave trade in the 18th and 19th centuries, and announced that it plans to pay reparations via donations to BAME charities. Lloyd’s released a statement condemning “the indefensible wrongdoing that occurred during this period” after its role ... Read the full article

Lloyd’s CEO Neal joins GA Board alongside MetLife’s Khalaf and RGA’s Manning

16th June 2020

International re/insurance industry think tank, The Geneva Association (GA), has announced the additions of Lloyd's of London's John Neal, MetLife's Michel Khalaf, and Reinsurance Group of America's (RGA) Anna Manning to its Board of Directors. The appointments of Neal, Chief Executive Officer (CEO) of Lloyd's, Khalaf, President and CEO of MetLife ... Read the full article

Lloyd’s launches new API to enhance electronic placement

9th June 2020

Insurance and reinsurance marketplace Lloyd’s of London has announced the launch of a new application programme interface (API) to help London Market brokers and underwriters place business electronically. The launch will form part of the Future at Lloyd’s work on developing the next generation of PPL. The new API is available immediately ... Read the full article

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