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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.

Re/insurers need proactive cyber development and marketing strategies: Inga Beale

5th June 2017

Speaking at Mexico's AMIS Insurance Conference, Lloyd's Inga Beale reiterated the urgency of getting aboard the cyber insurance market, which she said could triple in size to $7.5 billion by 2020. "I don’t think that, as a sector, we are doing enough to promote the benefits of cyber insurance and make ... Read the full article

Reinsurers should work against rising tide of protectionism: Inga Beale

1st June 2017

Lloyd's Chief Executive Officer (CEO) Inga Beale has urged reinsurers to get to work against the trend of growing protectionism, citing increasing obstacles confronting reinsurers as barriers to international trade continue to go up across the globe, in the European re/insurance federation's latest annual report. "We need to continue our engagement and ... Read the full article

Mexico and Latin America seen as growth markets for Lloyd’s: Inga Beale

30th May 2017

Inga Beale highlighted Latin America and Mexico as a key region and growth opportunity for Lloyd's, as the centuries-old re/insurer positions itself for further growth in the emerging market and seeks to strengthen ties, perhaps especially in light of a post-Brexit operating environment, in a speech at the Mexico AMIS ... Read the full article

Lloyd’s market hit a “turning point” in 2016, listed insurers outperforming market: RBC

25th May 2017

Difficult global insurance and reinsurance market conditions over the past few years intensified in 2016 fuelling additional earnings pressure on both listed Lloyd's insurers and the overall, Lloyd's of London marketplace. And analysts at RBC Capital Markets feel that those with less correlation to Lloyd's market trends are likely to ... Read the full article

ProAssurance puts $200m into Dale Syndicate 1729

25th May 2017

ProAssurance Corporation has expanded its commitment to Lloyd's of London insurance and reinsurance underwriting group Dale Underwriting Partners, adding $200 million to its capital commitment to Syndicate 1729, through to the 2022 year of account. Duncan Dale chief executive, Dale Underwriting Partners, commented on the capital injection; "ProAssurance has been keen ... Read the full article

Beazley, Talbot, and Chaucer develop Asian Political Risk Consortium

19th May 2017

Lloyd's of London re/insurers Beazley, Chaucer, and Talbot have collaborated on the launch of a Political Risk Consortium in Asia, providing capacity of up to $130 million for individual risks. The new Political Risk Consortium in Asia will offer increased capacity for a variety of political and contract frustration exposures. Offering ... Read the full article

Lloyd’s agrees to pay compensation for South Korea Sewol ferry victims

17th May 2017

Lloyd's of London and Korean Re have reached an agreement to pay more than 100 billion won (US$89 million) for South Korea's Sewol ferry accident victims after two years of negotiating whether or not insurance claims were valid due to the ferry owner failing to operate according to regulations, the ... Read the full article

Tokio Marine Kiln updates on Lloyd’s Syndicates improvements

15th May 2017

Tokio Marine Kiln has revealed the latest forecasts for its Lloyd's Syndicates, announcing improvements on the 2015 year of account driven by favourable claims development. Tokio Marine Kiln Syndicates Limited operates Syndicates 510, 557, and 308 at the Lloyd's of London specialist insurance and reinsurance marketplace, and has now released ... Read the full article

Lloyd’s Inga Beale calls on the City of London to support re/insurance modernisation

10th May 2017

Lloyd's Chief Executive Officer (CEO), Inga Beale, has said London's access to talent and emerging markets must be prioritised if the city's re/insurance industry is to thrive in future years. And while these factors could become increasingly challenged in an era of populism and protectionism, Beale said she believes Brexit could ... Read the full article

New EU base to boost Lloyd’s European market share: John Nelson

27th April 2017

Chairman of the specialist Lloyd's of London insurance and reinsurance marketplace, John Nelson, has said the establishment of a base in mainland Europe will help the insurer increase its European market share. Lloyd's announced earlier this year that it would establish an insurance subsidiary in Brussels, Belgium, as its European Union ... Read the full article

Markel becomes second syndicate to join Lloyd’s India platform: Reports

24th April 2017

Markel is set to become the second syndicate to join Lloyd's India operations, after the specialist insurance and reinsurance market kicked off its India market expansion in April with MS Amlin as the first syndicate to join its newly launched domestic India reinsurance branch, the India Express has reported. Markel International Underwriter, ... Read the full article

Pace of change to accelerate at Lloyd’s as performance deteriorates: Macquarie

19th April 2017

Analysts at Macquarie predict the pace of change at the Lloyd's of London specialist insurance and reinsurance market to accelerate in the coming months after a challenging 2016, underlined by the continued deterioration of underwriting performance. Macquarie believes the Lloyd's marketplace is undergoing a "structural revolution" that is likely to change ... Read the full article

Lloyd’s prepared to negotiate with Indian regulators: John Nelson

11th April 2017

Lloyd’s Chairman, John Nelson, said in an interview with the India Economic Times, that Lloyd’s would shift away from an India focus mostly surrounding reinsurance and expand into direct and specialist lines, after the first Lloyd’s syndicate, MS Amlin,  joined the India platform. Lloyd’s already writes $220 million in offshore ... Read the full article

Lloyd’s adds new Council and Franchise Board appointments

6th April 2017

Lloyd's of London has named Gregory Fleming as a nominated member of the Council of Lloyd's and Patricia Jackson as an independent non-executive director of the Franchise Board, with the pair set to serve an initial term of three years. Fleming replaces Henrique Meirelles, who stepped down from the Council last ... Read the full article

Lloyd’s India branch opens, welcomes MS Amlin as first syndicate

5th April 2017

Lloyd's of London has officially opened its India branch office today and has welcomed MS Amlin as the first syndicate (which we covered yesterday here) to join the branch and begin underwriting as of the 1st April. A ceremonial Lloyd's policy was signed today and witnessed by the UK Chancellor ... Read the full article

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