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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 to create single governing body

8th November 2019

Lloyd’s of London has announced ambitious plans to create a single governing body for the Corporation and market by merging the Council and the Franchise board. From June 2020, a new body will consist of six nominated members, six market-elected, and three executives. A statement released by Lloyd’s today describes market support ... Read the full article

Lloyd’s has been too slow reacting to change: CEO John Neal

7th November 2019

Lloyd’s has not reacted quickly enough to changes in the risk landscape and must offer products and services that are more closely aligned with what customers want and need, according to Chief Executive of the marketplace John Neal. Speaking at a lecture today in Lloyd’s Old Library building, Neal emphasised the ... Read the full article

Lloyd’s-backed active assailant mitigation program launches

5th November 2019

US security specialist 1st Watch Global has partnered with Pioneer Programs Insurance Solutions and EC3 Brokers on an active assailant prevention program designed to assess the readiness of various public locations for an assault by an active assailant. Assessments, carried out by a team of ex-FBI agents and homeland security professionals, ... Read the full article

Lloyd’s report reveals huge cyber risk protection gap across Asia-Pacific ports

30th October 2019

A single, large cyber-attack hitting major ports across the Asia-Pacific region could cost as much as USD 110 billion, of which just 8% would be covered by insurance, according to a new report produced by the University of Cambridge Centre for Risk Studies, on behalf of the Cyber Risk Management ... Read the full article

Aston Lark acquires Lloyd’s broker Protean Risk

28th October 2019

UK insurance broker Aston Lark has acquired specialist Lloyd’s brokerage Protean Risk, the firm’s first purchase since being acquired by the Merchant Banking division of Goldman Sachs in September. Protean Risk focuses on the investment industry, financial services, fintech and technology sectors and has clients ranging from start-ups to international organisations. Peter ... Read the full article

AEGIS London launches digital trading division

28th October 2019

Lloyd’s managing agency AEGIS London has launched a digital trading division as the firm looks to build on the success of its online quote-and-bind platform Opal. AEGIS London’s head of digital trading Tom Squires will lead the new division with support from digital trading manager Angus Turner and Phil Lucas, business ... Read the full article

London market needs efficiency, Lloyd’s needs to execute: Davies, Xceedance

22nd October 2019

As Lloyd’s and the broader London market strive for greater efficiency, it’s important that the specialist insurance and reinsurance marketplace is successful in at least some areas of its prospectus, says Justin Davies, Head of EMEA at re/insurance service provider, Xceedance. After unveiling its Future at Lloyd’s prospectus back in May, ... Read the full article

Lloyd’s & Habitat for Humanity GB target braver, more resilient communities

21st October 2019

The specialist Lloyd's of London insurance and reinsurance marketplace has entered into a new partnership with Habitat for Humanity Great Britain, designed to help create braver and more resilient communities in climate risk areas. The Lloyd's Charities Trust has launched the new disaster resilience partnership with Habitat for Humanity Great Britain, ... Read the full article

Legal cannabis boom considerable opportunity for Lloyd’s: Clyde & Co

17th October 2019

With upcoming regulatory developments in the US and Canada expected to facilitate a significant growth of the legal cannabis industry over the next five years, Global law firm Clyde & Co sees considerable opportunities for insurers at Lloyd’s. Sales are already projected to grow as much as ten-fold to reach $40 ... Read the full article

London market underwriting to remain under pressure through 2019: Fitch

14th October 2019

Analysts at Fitch Ratings anticipate that underwriting earnings are like to remain under pressure for London market re/insurers through the remainder of 2019. While improved pricing conditions are starting to benefit results, earnings are currently being offset by high expense ratios and lower scope for reserve releases, the rating agency said. London ... Read the full article

Lloyd’s, AIR target greater supply chain resilience

10th October 2019

A new framework designed to help both risk managers and insurers close the supply chain risk protection gap has been co-produced by the specialist Lloyd's of London re/insurance marketplace and catastrophe risk modeller, AIR Worldwide. A new report from Lloyd's and AIR Worldwide, Hidden Vulnerabilities in Supply Chain Risk: A quantitative ... Read the full article

Lloyd’s chairman Carnegie-Brown takes on role at auto insurtech Cuvva

10th October 2019

Bruce Carnegie-Brown, the Chairman of specialist re/insurance marketplace Lloyd's of London, has taken on a new role at auto insurtech Cuvva, The Financial Times has reported. App-based Cuvva allows users to purchase car insurance by the hour, day, week or month and was founded in 2014 by Freddy Macnamara and James ... Read the full article

Marine market is still adjusting to ongoing Lloyd’s efforts: Marsh JLT Specialty

10th October 2019

The Marine market continues to adjust to the efforts of the Lloyd's of London market to improve profitability, and as dedicated marine syndicates continue to close, Marsh JLT Specialty has questioned what is at stake should pricing remain at current levels. In response to falling profits driven in part by underperforming ... Read the full article

Canopius wraps up Lloyd’s merger with AmTrust

3rd October 2019

Global specialty re/insurer Canopius Group has completed its previously-announced merger with AmTrust's Lloyd's operations. The merger between Canopius Lloyd’s Syndicate 4444 and AmTrust Syndicate 1861 was first announced back in April and will result in the establishment of a top-five Lloyd’s insurer with combined premiums of roughly £2.2 billion. It is believed ... Read the full article

Market groups commend collaborative approach of Lloyd’s Blueprint One

1st October 2019

Representatives from various market groups have released statements commending the approach proposed by Lloyd’s Blueprint One, which outlines the first phase of the marketplace’s new strategy for change. Industry executives praised the collaborative approach utilised by Lloyd’s, which says it has attempted to respond to the demands of the market. “This Blueprint ... Read the full article

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