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.
Davies acquires Lloyd’s MGA Asta
8th September 2021
Specialist professional services and technology firm Davies has acquired Lloyd's third party managing agent Asta in an effort to add strength and reach to its global insurance services practice. London-based Asta was key in the development of Lloyd’s recent Syndicate-in-a-box (SIAB) framework and is seen as a way to widen Davies' ... Read the full article
Hurricane Ida could cause major hit to Lloyd’s & energy markets: Peel Hunt
1st September 2021
Analysts at Peel Hunt have warned that Hurricane Ida could result in a major hit to both the Lloyd’s and energy re/insurance markets, in addition to massive costs for the US P&C sector. Ida made landfall in Louisiana as a Category 4 hurricane just south west of New Orleans on Sunday ... Read the full article
More price rises needed to offset Lloyd’s losses: analysts
27th August 2021
Analysts at insight and consultancy firm Insurance DataLab have stressed that, despite substantial rate increases over recent months, further price rises will be needed to offset losses within the Lloyd’s market. Lloyd’s premiums have increased by more than 50% year-on-year in every quarter since the start of the pandemic, the firm ... Read the full article
Jefferies sees promising tailwinds for Lloyd’s market
26th August 2021
Analysts at Jefferies expect the Lloyd’s of London re/insurance market to benefit from a number of promising tailwinds going forward, despite a challenging year in 2020. Last year, the Lloyd’s market reported a combined ratio of 110.3%, largely driven by the adverse impact of the COVID-19 pandemic, which caused some £3.4 ... Read the full article
Lloyd’s reports improved syndicate forecasts for 2019/2020
19th August 2021
Insurance and reinsurance marketplace Lloyd’s of London has released updated forecasts for its 2019 and 2020 years of account, which show improved forecasts for most syndicates. Overall, 16 syndicates are reporting an improved forecasts, with the largest improvements at SPAs 6107 (Beazley) and 6104 (Hiscox), although some syndicates continued to report ... Read the full article
Hudson Structured buys majority stake in Occam
17th August 2021
Specialist lines-focussed managing general agency Occam Underwriting has announced Hudson Structured Capital Management's decision to become a majority shareholder. Additional investment from HSCM, an asset manager specialising in the re/insurance and transportation sectors, is expected to help Occam expand into new lines via new talent acquisitions and upgrades to its various technology platforms. As ... Read the full article
Slow climate response could “damage” Lloyd’s brand, says Chairman
11th August 2021
Lloyd's of London Chairman Bruce Carnegie-Brown says the marketplace’s brand could be “damaged” by re/insurers that have proved slow to withdraw their backing for carbon-intensive activities. Speaking to the Financial Times, Carnegie-Brown warned that climate laggards could “let down” efforts at Lloyd’s, which has already come under fire from climate activists ... Read the full article
Lloyd’s names Guy Carpenter’s Vicky Carter as Deputy Chair
22nd July 2021
The specialist Lloyd's of London insurance and reinsurance marketplace has named Vicky Carter of reinsurance broker Guy Carpenter as its new Deputy Chair, effective September 1st, 2021. Carter has served as a member of Lloyd's Council since February 2019 and has worked for the Lloyd's marketplace for over 40 years, having ... Read the full article
MCI receives in-principle approval to establish Syndicate 1902
21st July 2021
Specialist managing general agency Medical & Commercial International (MCI) has received ‘in-principle’ approval from Lloyd’s for Syndicate 1902 to underwrite business incepting on or after 1 January 2022. The syndicate will write gross written premium (GWP) of £45 million in year one. It will be established under ... Read the full article
Apollo gains Lloyd’s approval for standalone Syndicate 1971
15th July 2021
Apollo Syndicate Management, the independent specialist insurer and reinsurer, has been granted in principle approval from The Council of Lloyd’s to convert Special Purpose Arrangement (SPA) 1971 into a standalone syndicate. However, the approval remains subject to the completion of the Lloyd’s ‘making it happen’ (MIH) process. The ibott SPA 1971 was ... Read the full article
Lloyd’s adds L&G exec Eleanor Bucks to build out investment platform
13th July 2021
Lloyd’s is set to welcome Eleanor Bucks to the newly created role of Chief Investment Officer, established in order to build and lead the marketplace’s new investment platform for the market. Effective September 2021, Bucks will be ensuring Lloyd’s new platform creates greater scale and provides access to a broader range ... Read the full article
Pandemic class actions filed against Lloyd’s and QBE
1st July 2021
Law firm Gordon Legal has initiated a Federal Court case against underwriters at Lloyd’s of London and filed a class action lawsuit against QBE in Australia over business interruption (BI) claims related to the pandemic, according to reports from the Australian Financial Review. Gordon Legal says the cases relate to claims ... Read the full article
Carbon promotes Director Nick Tye to lead as CEO
1st July 2021
Specialist managing general underwriter (MGU) Carbon has promoted Director Nick Tye to lead as Chief Executive Officer, succeeding Stephen Card in the role. Card is set to transition to the Chairman position and maintain a leadership and mentoring role at the company. Concurrently, Carbon has highlighted the onboarding of new capacity providers, ... Read the full article
Lloyd’s syndicate Arcus 1856 rebrands to IQUW
1st July 2021
ERS Group's Lloyd's syndicate, Arcus 1856 has rebranded as IQUW as it looks to put into effect its vision to rebuild into a more diverse, multi-line insurer and reinsurer. Effective today, the new brand signals a shift from the previous branding of the syndicate and repositions the firm as it transitions ... Read the full article
MS Amlin Underwriting adds Richard Little to Marine Energy team
29th June 2021
Lloyd’s global specialty re/insurer MS Amlin Underwriting has announced the appointment of Richard Little as a Senior Underwriter within its Marine Energy Liability team. Little will take up the role later this year and report directly to Kevin Massey, Marine Liability Product Group Leader. He brings close to 20 years of industry ... Read the full article
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