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.

Aspen joins commitment to cut ties with the Tar Sands Pipeline

21st April 2022

Trans Mountain insurer and Lloyd’s syndicate Aspen Insurance is to cut ties with the existing Trans Mountain tar sands pipeline when its current insurance policy expires this summer. Aspen joins sixteen other insurance companies that have dropped Trans Mountain or vowed not to insure the Trans Mountain Expansion Project. The commitment from ... Read the full article

Lloyd’s building closed after climate activist protest

12th April 2022

The Lloyd's building at Lime Street in London has been closed this morning, after protesters from climate activist group Extinction Rebellion blockaded entrances. "We are currently unable to enter the Lloyd's building due to protesters outside," Lloyd's said in a statement released at 9.15am this morning. "In the interests of your safety, ... Read the full article

Mosaic adds Lloyd’s carrier Apollo to boost syndicated global capacity

5th April 2022

Mosaic Insurance has added Lloyd’s carrier Apollo to its consortia of industry partners, boosting the amount of syndicated capacity it can deploy for high-demand transactional liability coverage worldwide. The new partnership will support Mosaic’s hybrid syndicated capital program, in which Mosaic Syndicate 1609 commits capital alongside that of trade partners seeking ... Read the full article

Cenata and IQUW partner on reinsurance management solution

5th April 2022

Insurtech software provider Cenata has partnered with Property, Commercial and Specialty re/insurer, IQUW, enabling the Lloyd’s syndicate to use Cenata’s outwards reinsurance management solution, Cenata SURE, a full cycle outwards reinsurance management solution. The partnership will provide IQUW with the capability to process real-time premium and claims data from multiple inwards ... Read the full article

Insurance industry’s financial clout key to fighting climate change: Lloyd’s CEO Neal

4th April 2022

Lloyd’s CEO John Neal has said climate change is the ‘single biggest opportunity’ he has seen in his career. Speaking on the Lloyd’s 2021 earnings call, Neal said that he saw climate change not as a threat, but as an opportunity for the industry ‘to stand up and be counted’. Neal said ... Read the full article

Market may not understand Ukraine loss this year: Lloyd’s CEO Neal

30th March 2022

John Neal, Chief Executive Officer at specialist re/insurance marketplace Lloyd’s of London, has warned that the market is a long way out from understanding its full exposure to Russia’s invasion of Ukraine. During a call prior to his hospitalisation following a car accident over the weekend, Neal warned that half-year reports ... Read the full article

Lloyd’s & Schroders partner on market investment platform

29th March 2022

Specialist insurance and reinsurance marketplace Lloyd’s of London has appointed Schroders Solutions as the investment partner of its new investment platform. The open-architecture firm manages £150 billion of global assets for insurance companies and has long-standing partnerships within the Lloyd’s market. The new platform will consist of a series of select funds ... Read the full article

Activists urge Munich Re and Lloyd’s to stop insuring EACOP Pipeline

29th March 2022

Environmental activists are calling for Munich Re and Lloyd's to follow other global re/insurers by no longer insuring the East African Crude Oil Pipeline (EACOP). The campaign #StopEACOP has been urging for a number of the worlds largest re/insurance companies to pull back from the scheme. On the campaign’s website it states ... Read the full article

Lloyd’s CEO Neal seriously injured in car accident

28th March 2022

Lloyd’s of London Chief Executive Officer John Neal is undergoing treatment in hospital after sustaining “serious injuries” from a collision with a car. A statement from the specialty insurance and reinsurance marketplace says that Neal had been riding his bike on Saturday 26th March when the collision occurred. The Lloyd’s boss is ... Read the full article

Lloyd’s says Ukraine will be a major claim for the market

24th March 2022

The specialist Lloyd’s insurance and reinsurance marketplace has said it believes the ongoing conflict in Ukraine will be a major claim for the market in 2022. In comments alongside the release of its yearly results today, Lloyd’s said that it continues to be in “close dialogue” with market partners to ... Read the full article

Blink Parametric partners with MNK Re

22nd March 2022

Blink Parametric, a CPP Group Insurtech has partnered with MNK Re, a specialist Lloyd's of London insurance and reinsurance broker, which will see the early rollout of Blink’s flagship parametric flight disruption solution. The solution will provide further pipeline parametric insurance opportunities for its diverse weather, climate, energy and bancassurance offerings ... Read the full article

Lloyd’s syndicate Verto partners with Optalitix to enhance offering

18th March 2022

Verto syndicate 2689 (Verto), a follow-only Lloyd’s syndicate, has partnered with Optalitix, an insurtech company providing SaaS software to leading insurers in the UK, to innovate the Lloyd’s market using a fully digital pricing system with full AI capability. Embracing AI and rapid algorithm development through the Optalitix Quote product will ... Read the full article

OIC’s syndicate 2880 receives Lloyd’s approval

18th March 2022

Oman Insurance Company (OIC) and Asta, a third-party managing agent at Lloyd’s have announced that OIC’s syndicate 2880 has received Lloyd’s approval to commence underwriting. The syndicate was launched under Lloyd's syndicate-in-a-box (SIAB) initiative and will operate on the Lloyd’s platform under the Dubai International Financial Centre (DIFC). OIC is based in ... Read the full article

Atrium fined over £1m by Lloyd’s for non-financial misconduct

16th March 2022

Underwriting firm Atrium has been fined over £1m for non-financial misconduct, an amount that Lloyd’s said was the largest penalty ever imposed. The fine, said Lloyd’s, totals £1.05m, plus the payment of costs to the market of £562,713.50. It was however discounted by 30% as the proceedings were apparently settled at ... Read the full article

Inigo reports highest GWP of Lloyd’s start-ups at $411mn

16th March 2022

Specialty insurer and reinsurer, Inigo has submitted its first set of Syndicate accounts to Lloyd’s of London, since launching at the beginning of last year, reporting Gross Written Premiums of $411 million, outperforming new entrants to Lloyd’s with entirely new portfolios. The company’s ultimate premium for the 2021 underwriting year is ... Read the full article