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.
Silicon Valley exec Joe Hurd joins Lloyd’s Council
11th January 2023
Lloyd’s, the world’s leading marketplace for commercial, corporate and specialty risk solutions, welcomes Joe Hurd to the Council of Lloyd’s. He will replace John Sununu, who will be stepping away from the Council in May 2023 to focus on his new role as Non-Executive Chair, Lloyd’s Americas, where will be replacing ... Read the full article
Helios reports 39% increase in retained capacity
10th January 2023
Helios, the investment vehicle that acquires and consolidates underwriting capacity at Lloyds', has announced a 39% increase in its retained capacity for 2023. The company’s overall portfolio, including its capacity reinsured, increased to £296.6 million, adding more than 27% to the size of the portfolio since the 1st January 2022. This includes an increase in ... Read the full article
Storm Elliott to have limited impact on Lloyd’s syndicates: Argenta
5th January 2023
Argenta Holdings, the Lloyd's service company, managing agent and syndicate owner, has predicted that Winter Storm Elliott in North America will have only a “limited impact” on the Lloyd’s syndicates market. Reflecting on KCC’s insured loss estimate of $5.4 billion, Argenta says at this level primary carriers will generally not ... Read the full article
Trium Cyber Syndicate 1322 begins to provide coverage
3rd January 2023
Trium Cyber has announced its US-based service company has begun to provide cyber and technology errors & omissions coverage for US-domiciled risks. Writing on behalf of Lloyd’s Syndicate 1322, the company is backed by Pelican Ventures and third-party capital providers like Asta, the leading third-party managing agent at Lloyd’s. In November ... Read the full article
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
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