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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.

Lloyd’s appoints former U.S Senator John Sununu to Council

30th January 2019

Lloyd’s has appointed former U.S Senator John Sununu as a member of its Council on a three-year term. During his time in the senate, he served on the Senate Banking Committee - where he actively prioritised insurance issues - and the Senate’s subcommittee on Science, Technology and Innovation. Effective 6 February, the ... Read the full article

Lloyd’s to continue efficiency drive, rethink international priorities, says CEO

29th January 2019

John Neal, Chief Executive Officer (CEO) of Lloyd’s of London, has said that the marketplace will continue to focus on driving efficiency in 2019, as well as on winning new business in the U.S and Europe. Speaking in an interview with the Financial Times, Neal said that he is due to ... Read the full article

Updated PPL offers enhancements for facilities

28th January 2019

A significant update has been implemented by the board of Placing Platform Limited (PPL), including improvements to its facilities functionality and various market requests for alterations. The PPL has been pushed as a core part of the London Market Group’s (LMG) Target Operating Model, which is looking to make it more ... Read the full article

Ed reports 67% PPL usage between August, November 2018

23rd January 2019

Ed Broking, the global reinsurance, wholesale and specialty insurance broker, claims it placed 67% of orders through the London Market’s Placing Platform Limited (PPL) between August and November 2018, with the company’s Group Head of Broking calling on all brokers to reveal their rate of usage. The PPL has been pushed ... Read the full article

Waypoint approved as A&H coverholder for ArgoGlobal at Lloyd’s

23rd January 2019

Specialty managing general underwriter (MGU) Waypoint Underwriting Management has obtained coverholder approval to underwrite accident and health (A&H) products on behalf of ArgoGlobal Syndicate 1200 at Lloyd’s. Waypoint offers insurance and reinsurance solutions to clients in the U.S, led by an executive team that has started, owned and run multiple reinsurance ... Read the full article

Lloyd’s introduces risk-based oversight for syndicates

18th January 2019

The specialist Lloyd's of London insurance and reinsurance marketplace has announced that it intends to introduce risk-based oversight for underperforming syndicates as part of its ongoing performance review. The process will support the implementation of syndicates’ performance improvement plans, which are designed to return certain classes or syndicates to sustainable profit ... Read the full article

Lloyd’s faces pressure to focus on U.S business

14th January 2019

Andrew Brooks, incoming Chair of the Lloyd’s Market Association (LMA), has urged Lloyd's of London to refocus its growth strategy away from emerging markets and towards the U.S, according to reports from the Financial Times. Lloyd’s has concentrated on winning new business over the past few years by opening offices in ... Read the full article

New York regulators fine Lloyd’s insurers $5m for NRA dealings

28th December 2018

Ten insurers that did business with the National Rifle Association (NRA) through the Lloyd’s of London marketplace have been fined a total of $5 million by New York regulators. The fines are related to NRA self-defense insurance programs and have been deemed in violation of state law. Initially, an investigation by New ... Read the full article

Iain Ferguson takes up regional director role for Lloyd’s in Asia Pacific

21st December 2018

The President and Chief Operating Officer for Lloyd’s Japan, Iain Ferguson, is to take on additional responsibilities as Regional Director across the Asia Pacific (APAC) region. Having first joined Lloyd’s in 2007, Ferguson has more than 20 years’ experience working in Japan and across Asia. Lloyd's says its’ organisational structure in Asia ... Read the full article

At least 40% of risks must be placed electronically at Lloyd’s for Q1 2019

20th December 2018

The specialist Lloyd's of London insurance and reinsurance marketplace has revealed that for the first-quarter of 2019, each syndicate will be required to have written at least 40% of its risks using a recognised electronic placement system. The target figure is set to increase to 50% for the second-quarter of 2019, ... Read the full article

Sonja Rottiers to replace Vandendael as Lloyd’s Brussels CEO

20th December 2018

It has been announced that Lloyd’s post-Brexit European base in Brussels will be lead by Sonja Rottiers as Chief Executive Officer. This appointment follows the recent departure of Lloyd's Brussels' previous CEO Vincent Vandendael, who played a key role in its' successful establishment. Rottiers will also serve as Lloyd’s Regional ... Read the full article

Lloyd’s adds Albert Benchimol, Victoria Carter to Council

18th December 2018

The Lloyd's Council has announced the addition of Albert Benchimol and Victoria Carter as an External member and Working member, respectively, effective from 1 February 2019. Meanwhile, Michael Watson, currently on the council, has been re-elected as an External member. Benchimol is currently President and Chief Executive Officer of AXIS Capital Holdings Limited, ... Read the full article

Lloyd’s turns to IoT for marine cargo performance improvement

17th December 2018

Lloyd’s has joined six lead market syndicates - AXA, QBE, CNA, Ascot, Antaras and Beazely - on a new initiative to begin using Parsyl, a venture-backed supply chain data platform that utilises Internet of Things (IoT) technology. The new initiative is designed for products that require specialist transport and storage, such ... Read the full article

Lloyd’s must adapt and innovate to remain relevant in the future: Carnegie-Brown

6th December 2018

The Chairman of the Lloyd's of London specialist insurance and reinsurance marketplace, Bruce Carnegie-Brown, has called on the marketplace to innovate in order to improve relevance to customers in the rapidly evolving risk transfer space. Delivering a key note speech at the Lloyd's building yesterday on Lime Street, London, Carnegie-Brown said ... Read the full article

LMG urges progress on post-Brexit equivalence for insurers, brokers

6th December 2018

The London Market Group has underscored changes it believes must be made to the European Union equivalence regime ahead of “one of the most critical decisions in a generation” taking place in the House of Commons. MPs are due to vote on the Government’s Withdrawal Agreement and the Political Declaration on ... Read the full article

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