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.

Expect further international growth at Whitespace after a promising year: Marcus Broome

20th August 2020

After an impressive 2020 for digital e-trading platform, Whitespace, underpinned by rapid uptake and full recognition by Lloyd’s of London, Reinsurance News spoke with Marcus Broome, Chief Platform Officer. Broome has been in the insurance industry since 1985, originally working for a Lloyd’s syndicate before founding a technology business called ROOM ... Read the full article

COVID-19 compounds losses, uncertainty for Lloyd’s syndicates in 2019

19th August 2020

A recent forecast update for all syndicates supported by third party capital at re/insurance marketplace Lloyd’s of London shows that the 2019 year of account felt the lion's share of COVID-19 losses and caused a variety of outcomes and uncertainties. According to managing agency Argenta Group, Hiscox and Tokio Marine Kiln are ... Read the full article

Face masks mandatory as Lloyd’s details reopening strategy

18th August 2020

As the specialist re/insurance marketplace Lloyd’s of London moves closer to the re-opening of its Underwriting Room on September 1, it has announced a series of safety measures that will see face coverings mandatory in all public areas of the building. In a statement released today Lloyd’s CEO John Neal highlighted ... Read the full article

Lloyd’s increases electronic placement targets

12th August 2020

Insurance and reinsurance marketplace Lloyd’s of London has decided to increase its targets for electronic placement submissions/quotes for the third and fourth quarters of the year. From July 1, the target for risks bound will remain at 80%, but the targets for submissions/quotes have been raised to 25% for Q3 and ... Read the full article

Lloyd’s selects ten insurtechs for cohort focused on COVID-19 risks

11th August 2020

Specialist insurance and reinsurance market Lloyd’s has announced its new cohort of InsurTech disruptors that will join the Lloyd’s Lab innovation accelerator programme. The ten successful teams were selected after presenting their ideas in a competitive process during a virtual pitch day on 29 July 2020. This is the second completely virtual ... Read the full article

Helios eyes capital raise to bolster growth plans

10th August 2020

Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has announced an update on its capacity portfolio and its growth plans. The company is looking to build a fund of capacity on the better quality syndicates at Lloyd's by acquiring existing limited liability vehicles (LLVs) and by taking up pre-emption capacity ... Read the full article

Aston Lark announces acquisition of Lloyd’s broker Incepta

7th August 2020

Aston Lark, the Chartered insurance broker backed by Goldman Sachs, has announced the acquisition of Incepta Risk Management. Incepta is an established Lloyd’s broker offering solutions to clients and customers, direct and wholesale, with an appetite for UK commercial business developed through successful underwriting binders as well as effective open market ... Read the full article

Intangible assets a “major blind spot” amid COVID-19: Lloyd’s & KPMG

6th August 2020

The acceleration of digital business models, amplified by COVID-19, could lead to intangible assets becoming a “major blind spot” for companies not factoring them into their risk models. This is according to a new report published by Lloyd’s and KPMG, which urges businesses to pay attention to the new risk landscape ... Read the full article

Lloyd’s appoints Spyropoulos CEO of Asia

3rd August 2020

Specialist re/insurance marketplace Lloyd’s of London has appointed Pavlos Spyropoulos as country manager of Singapore and Chief Executive Officer of Lloyd's Asia. Spyropoulos has been with Lloyd's for over 12 years and has served across a number of senior positions. He relocated to Singapore in 2014 in order to assume responsibility for Lloyd’s ... Read the full article

Lloyd’s targets 35% female representation in leadership

31st July 2020

Insurance and reinsurance marketplace Lloyd’s of London has set an interim target of 35% female representation in leadership positions by the end of 2023, and 20% female representation in Boards and Executive Committees. Going forward, new market entrants will be expected to meet the new gender leadership targets on arrival. The new ... Read the full article

SRL makes rating adjustments for Lloyd’s syndicates 4472, 2003

27th July 2020

Syndicate Research Limited (SRL) has provided rating adjustments for Liberty Mutual-owned Lloyd’s syndicate 4472 and AXA’s syndicate 2003. Syndicate 4472 is ultimately 100% backed by Liberty Mutual and with a 2020 capacity of £1.1bn, writes an Excess of Loss-orientated account. SRL has affirmed the syndicate’s B+^ (Above Average) Continuity Opinion, while its ... Read the full article

Lloyd’s creates Syndicate 1796 to insure transportation of COVID-19 vaccine

23rd July 2020

The specialist Lloyd's of London insurance and reinsurance marketplace has announced the creation and in principal approval of Syndicate 1796, a new "syndicate in a box" designed to insure both the storage and transportation of a COVID-19 vaccine once developed to emerging economies. The marketplace's newest syndicate in a box has ... Read the full article

Google-backed Lloyd’s syndicate Ki adds Dan Hearsum as MD

23rd July 2020

Ki, the first fully digital and algorithmically-driven Lloyd’s syndicate has announced the appointment of Dan Hearsum as Managing Director. Launched in collaboration with Brit Limited and Google Cloud, Ki was launched to reduce the amount of time taken for brokers to place their follow capacity. In his new role, Hearsum will report to ... Read the full article

Apollo expands Syndicate 1969 specie and cargo team

20th July 2020

Independent specialist re/insurer Apollo Syndicate Management has announced a new leadership structure for its expanding specie and cargo business. Richard Panter joins as head of specie & cargo at Apollo Syndicate 1969 and will report to Paul Letherbarrow, head of aviation and member of the executive committee. With over 37 years’ broking ... Read the full article

Lloyd’s confirms priorities for H2 2020

20th July 2020

Insurance and reinsurance marketplace Lloyd’s of London has confirmed that its three main priorities for the second half of 2020 will be placement, delegated authority and claims. These priorities form part of the Future at Lloyd’s strategy and will be underpinned by new data and technology capabilities, Lloyd’s says. Alongside middle and ... Read the full article

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