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.
Apollo adds Richard Panter as head of specie, cargo at Syndicate 1969
20th October 2020
Independent specialist re/insurer Apollo Syndicate Management has added Richard Panter as head of specie and cargo at Apollo Syndicate 1969. Panter brings over 37 years’ experience in the insurance market and reports to Paul Letherbarrow, head of aviation and member of the executive committee. Before joining Apollo, he had been head of fine art ... Read the full article
O2 Broking registered as first Lloyd’s broker in Denmark
19th October 2020
O2 Broking ApS has been approved as the first Lloyd’s Registered Broker in Denmark as part of the re/insurance marketplace's preparations for Brexit. Lloyd's previously established a hub in Brussels to help it transition smoothly as the UK exits the European Union. However, subject to current negotiations between UK and EU about ... Read the full article
ICMR launches Lloyd’s syndicate capital & performance analysis tool
19th October 2020
Insurance and capital markets quantitative analysts ICMR has announced the release of its Lloyd’s syndicate capital and performance analysis tool. ICMR.Matrix is a cloud-based tool able to compare the relative performance of various syndicates against their relative capitalisation over different time periods. This allows clients to see how these factors impact returns ... Read the full article
LMG provides update on business environment workstream
19th October 2020
The London Market Group has provided an update on the progress of its work with the UK Government aimed at developing new trading opportunities. Part of the workstream's goal is to engage with the UK government, parliamentary parties and the civil service to provide clarity on the position of the London ... Read the full article
SRL makes rating adjustments for Lloyd’s Syndicate 33
15th October 2020
Syndicate Research Limited (SRL) has provided rating adjustments for Hiscox Syndicates Limited-backed, Lloyd's syndicate 33. SRL has downgraded the A (Very Good), negative outlook, Continuity Opinion of Lloyd's syndicate 33 to an A- (Good) rating. The downgrade comes in light of the syndicate’s more recent performance aligning the its overall scorecard assessment ... Read the full article
Elisabetta Ibba appointed CEO of Lloyd’s broker AEC
12th October 2020
Coverys European Holdings (CEH), a division of Coverys, has added Elisabetta Ibba as Chief Executive Officer of its Lloyd's broker subsidiary AEC Group. Ibba brings over two decades' experience to the role and has been with AEC since 2004, when she was appointed to manage its Lloyd's business. She takes up her ... Read the full article
Lloyd’s report calls for simpler insurance products
12th October 2020
In the wake of the COVID-19 pandemic, a new report from insurance and reinsurance marketplace Lloyd’s of London has called on insurers to build simpler products to protect customers. The report sets out a number of ways in which the global re/insurance industry could remove complexity and provide better coverage clarity ... Read the full article
It’s time to go back to basics, says Lloyd’s CEO Neal
9th October 2020
When considering the new risks of the age, the re/insurance industry needs to go back to basics and prioritise educating people around the benefits of insurance, according to John Neal, Chief Executive Officer (CEO) of Lloyd's of London. As emerging and systemic risks such as cyber and climate change, to name ... Read the full article
Re/insurers must work with cities to unlock urbanisation opportunities: Lloyd’s
9th October 2020
A new report from insurance and reinsurance marketplace Lloyd’s of London has urged the industry to work more closely with city administrators to improve risk management and unlock the opportunities presented by growing urbanisation. The report, published in association with Urban Foresight and Newcastle University, noted that urbanisation provides opportunities for ... Read the full article
Lloyd’s targets $15bn of new business, 13% growth in 2021: Neal
7th October 2020
The specialist Lloyd's of London insurance and reinsurance marketplace expects to approve business plans that will enable the market to write roughly $15 billion of new business in 2021, according to Chief Executive Officer (CEO), John Neal. In the latest of Aon's series of fireside chats with industry experts and leaders, ... Read the full article
Helios looking to raise £20mn for hard market growth
7th October 2020
Lloyd’s of London investment and underwriting vehicle Helios is aiming to raise £20 million through the issue of new ordinary shares, in an effort to take advantage of the hardening market. Helios had initially signalled its interest in pursuing a fundraise back in August. Discussions with potential investors have now taken ... Read the full article
Hampden Agencies Limited makes key board changes
5th October 2020
Lloyd’s Members’ agency Hampden Agencies Limited has announced a series of changes to its board, including Sarah Wilton as chair, and Elizabeth Fullerton-Rome as independent non-executive director and chair of the audit and risk committee. Effective immediately, the appointments coincide with HAL’s undertaking of a significant increase in demand for capital ... Read the full article
Coverys European Holdings launches Lloyd’s broker Celeritas
1st October 2020
Coverys European Holdings (CEH), a division of Coverys that invests in specialty managing general agencies across continental Europe and the UK, has announced the launch of Celeritas, a European broker for both open market placement and binder business. Binders & risks sourced by the broker will work with syndicates across Lloyd’s ... Read the full article
Lloyd’s launches parametric policy for business interruption
30th September 2020
Insurance and reinsurance marketplace Lloyd’s of London has launched a new business interruption policy for small and medium sized enterprises (SMEs) that uses a parametric trigger to protect against IT disruption or downtime. The new product, called Parametrix Insurance, is led Tokio Marine Kiln (TMK) and supported by other members of ... Read the full article
Riskbook secures £2mn in new funding
28th September 2020
Reinsurance technology provider Riskbook has received a £2 million investment to help further develop its Lloyd’s-recognised digital placement platform. RiskBook was approved by Lloyd’s of London as a recognised electronic placement system for open market reinsurance business earlier this year. The announcement marked the first time that brokers from any firm could ... Read the full article