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.
TigerRisk adds Lawrence Po-Ba to Lloyd’s capital & investment role
4th May 2020
Insurance and reinsurance brokerage TigerRisk Partners has appointed Lawrence Po-Ba to focus on capital solutions for Lloyd‘s Syndicates. Po-Ba was previously Head of Lloyd’s Specialty Lines and a Partner at Securis Investment Partners LLP. Before that, he was the Lloyd’s Client Manager for SCOR, managing their corporate member at Lloyd’s, as well ... Read the full article
Half of Lloyd’s 20-year profits shared with reinsurers: ICMR
4th May 2020
New analysis from ICMR shows that roughly half of the gross profit generated in the Lloyd’s market over the last two decades has been shared with reinsurers. Cumulatively, Lloyd’s has written £448 billion of gross premium since 2000, with a long-term combined ratio of 98% and a cumulative net profit ... Read the full article
Asta launches syndicate-in-a-box at Lloyd’s
1st May 2020
Asta, a third-party managing agent at Lloyd’s, has launched syndicate 4747, its first syndicate-in-a-box. The syndicate has received in-principle approval from Lloyd’s to start writing business effective July 1, with stamp capacity of £15 million in year one, estimated to rise to £62.5 million in year three. 4747 is a specialist syndicate ... Read the full article
London market modernisation could accelerate post-pandemic: Bolton, Gracechurch
29th April 2020
Certain trends across the London insurance and reinsurance market that were in motion prior to the COVID-19 outbreak are expected to accelerate as a result of the pandemic, according to Ben Bolton, Managing Director at Gracechurch Consulting. Prior to the rapid spread of the ongoing COVID-19 pandemic, the Lloyd's and wider ... Read the full article
COVID-19 could be biggest ever industry loss, warns Lloyd’s CEO
24th April 2020
John Neal, Chief Executive Officer (CEO) of Lloyd’s of London, has said that the coronavirus (COVID-19) pandemic could be the most expensive event in history for the re/insurance industry. Speaking to the Financial Times, Neal said that the crisis will likely dwarf other major disasters such as Hurricane Katrina in 2005 ... Read the full article
Aon secures Lloyd’s accreditation for reinsurer trading portal
22nd April 2020
Global re/insurance broker Aon has received accreditation from Lloyd’s for its reinsurer trading portal, ABConnect Placements. The Lloyd’s Franchise Board provided ‘conditional recognition’ of the platform following the recent deployment of Aon’s binding function, so valid contracts can be written as ePlacements. Gaining approval from Lloyd’s as part of the electronic placing ... Read the full article
Coverys adds Robert Forster as Director of Underwriting
21st April 2020
Coverys Managing Agency has announced the appointment of Robert Forster as director of underwriting. Forster’s appointment is effective June and he succeeds Phil Sloan, who is due to retire from the position. He brings over three decades of specialist underwriting experience to Coverys and most recently served as Chief Underwriting Officer and ... Read the full article
Sompo to consolidate London presence, cease writing business from Lloyd’s
15th April 2020
Bermuda-based P&C insurer and reinsurer, Sompo International Holdings Ltd., has announced that as part of its ongoing transformation, it plans to consolidate its London presence into a single company platform. Effective January 2021, Sompo International will cease writing business from Endurance at Lloyd's or Syndicate 5151, with all renewals and new ... Read the full article
Lloyd’s adds country managers for Mexico, Colombia
15th April 2020
Lloyd’s has announced the appointment of Yelhis Hernandez as country manager for Mexico and Sebastian Gomez as country manager for Colombia as the company looks to bolster its market in Latin America. Based in Mexico City, Hernandez has been conducting the role since September 2019 with a focus on improving Lloyd’s ... Read the full article
D L Dale & Others, Syndicate 2525 adds Harcus as head of Intl casualty
9th April 2020
Specialist employers' and third party liability Lloyd's insurer D L Dale & Others, Syndicate 2525, has announced the appointment of Charles Harcus as head of international casualty. Harcus joins from Apollo Syndicate where he has served as head of international casualty since 2014. Prior to this, he was portfolio manager, international casualty, ... Read the full article
Lloyd’s appoints country managers for Benelux regions
9th April 2020
Lloyd’s Insurance Company S.A. has announced several senior appointments to countries in the Benelux regions, including the Netherlands, Belgium, and Luxembourg. Firstly, Iwan Ropcke has been appointed as the interim LIC Country Manager for the Netherlands and Belgium, with effect from 1 January 2020. Most recently, Ropcke served as Business Strategy & ... Read the full article
RiskBook approved by Lloyd’s as reinsurance e-placement tool
9th April 2020
RiskBook Ltd., an independent provider of reinsurance placement technology, has been approved by the specialist Lloyd's of London re/insurance marketplace as a recognised electronic placement system for open market reinsurance business. The announcement marks the first time that brokers from any firm can leverage a single user-friendly placement tool for global ... Read the full article
Lloyd’s asks members hit by COVID-19 to recapitalise fast
8th April 2020
The specialist Lloyd's of London insurance and reinsurance marketplace has reportedly asked members who have experienced sizeable losses as a result of the COVID-19 coronavirus pandemic to accelerate capital injections. In response, analysts at S&P Global Ratings have said that calling on certain Lloyd's members to accelerate recapitalisation will ultimately help ... Read the full article
Lloyd’s revises Claims Scheme amid ongoing COVID-19 challenges
8th April 2020
The specialist Lloyd's of London insurance and reinsurance marketplace has announced changes to the Lloyd's Claims Scheme to help managing agents respond effectively during the global coronavirus pandemic. Lloyd's, the oldest insurance market in the world, explains that the changes, which are effective immediately, amend the Claims Scheme requirements to empower ... Read the full article
PPL usage and adoption growing at pace during COVID-19
8th April 2020
In the three weeks since the London insurance and reinsurance market started working remotely as a result of the global coronavirus pandemic, the number of unique users on the Placing Platform Limited (PPL) has increased by 40%. PPL, the London market's electronic placing platform, has been tracking both activity and performance ... Read the full article