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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.

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

Prince Charles launches industry-led climate change task force at Lloyd’s

24th June 2021

HRH The Prince of Wales has launched his Sustainable Markets Initiative (SMI) insurance task force today during a visit to Lloyd’s of London. Chaired by Lloyd’s, the task force is composed of executives from many of the world’s largest re/insurers and aims to provide an influential platform for the sector to ... Read the full article

Chaucer launches Belt & Road consortium at Lloyd’s

24th June 2021

Specialty re/insurance group Chaucer has launched its new Belt and Road Consortium at Lloyd’s, designed initially to underwrite political violence risks but with plans to develop other lines in the future. Working with Chaucer’s parent company China Re, the consortium will provide large-scale capacity of up to $400 million for political ... Read the full article

Lloyd’s Central Fund cover will enable faster market growth

17th June 2021

Lloyd's of London Chief Financial Officer (CFO) Burkhard Keese has explained that the primary motivation behind the £650 million reinsurance cover that Lloyd's has purchased for its Central Fund is to facilitate the rapid pace of growth that the market has achieved recently, and is continuing to target. In a press ... Read the full article

Lloyd’s gets £650m cover for Central Fund: Report

17th June 2021

The Lloyd's of London insurance and reinsurance market has taken out a £650 million cover from an investment bank and reinsurers to protect its Central Fund against significant loss events, according to a report from the FT. The Central Fund reinsurance, or perhaps retrocession, arrangement, will have a five-year term and ... Read the full article

Helios reports drop in 2020 profit off Covid-driven market pressures

28th May 2021

Lloyd’s of London investment and underwriting vehicle Helios has announced a £336,000 profit for 2020, down from the £2.4 million reported in 2019. Helios says profitability has been significantly impacted by poor underwriting conditions and by the impact of COVID-19 losses. In its wake, the expectation of improved underwriting margins has allowed ... Read the full article

Lloyd’s signs up DXC for Blueprint Two delivery

27th May 2021

Lloyd’s, DXC Technology, the Boards of the Lloyd’s Market Association (LMA), and the IUA (International Underwriting Association) have signed new Heads of Terms to support the delivery of the Future at Lloyd’s Blueprint Two. The agreement brings together both the Lloyd’s and insurance company markets in London in a new joint ... Read the full article

Lloyd’s catastrophe risk exposure declined to £1.4bn in 2020: Moody’s

20th May 2021

According to a Moody’s report, Lloyd’s exposure to catastrophe risk has declined significantly in recent years to end last year at £1.4 billion (USD 2bn), or 6% of the solvency capital requirements (SCR). The report noted that at year-end 2016, so prior to the severe and costly natural catastrophe events of ... Read the full article

Anderson Benson appointed Coverholder by Lloyd’s

19th May 2021

Nashville-based independent insurance and risk management broker Anderson Benson has been appointed as a Coverholder by Lloyd’s of London for a worldwide Media Liability errors and omissions (E&O) program. The music industry-focused coverage includes copyright, publishing, film and social influencing and will be tailored for each group. Groups includes songwriters, composers, music ... Read the full article

As Lloyd’s re-opens re/insurers have work to do: London FOIL President

17th May 2021

With lockdown restrictions further relaxed around the UK today, the specialist Lloyd's of London insurance and reinsurance marketplace has reopened its underwriting room. Initially, the world's oldest insurance market has only reopened its famous underwriting room for those who need to be in, with plans to further relax restrictions at 1 ... Read the full article

Lloyd’s advocates human capital insurance solutions in wake of pandemic

14th May 2021

A new report by insurance and reinsurance marketplace Lloyd’s of London has explored the potential benefits of human capital insurance solutions for workforce management in the wake of the pandemic and future systemic risks. The report, published in collaboration with KPMG, looks at how human capital, or the collective abilities and ... Read the full article

Stephen Redmond joins Asta Managing Agency’s board as non-exec director

12th May 2021

Third-party Lloyd’s managing agent Asta has announced the appointment of Stephen Redmond to the board of Asta Managing Agency as independent non-executive director. Redmond joins from Antares/QIC Global where he served as active underwriter, managing director and most recently, chief transformation officer. He played a key role in establishing Antares as an ... Read the full article

Canada’s Apollo Insurance Solutions secures Lloyd’s coverholder status

30th April 2021

Canadian online insurance provider, Apollo Insurance Solutions Ltd., has secured coverholder status with the specialist Lloyd's of London insurance and reinsurance marketplace, providing it with access to an expanded product portfolio. Additionally, by obtaining coverholder status at Lloyd's, Apollo also gains the ability to develop unique products to respond even more ... Read the full article

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