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.

Lloyd’s targets digital efficiencies in Blueprint Two

5th November 2020

Insurance and reinsurance marketplace Lloyd’s of London has set out the next phase of its transformation plan with the release of its second blueprint for change. Blueprint Two is a two-year program that builds on the foundations laid by Blueprint One in September 2019 and focuses on shifting the market ... Read the full article

Lloyd’s underwriting room to close four days a week as second lockdown looms

3rd November 2020

Lloyd’s of London has announced alterations to the opening hours of its underwriting room, in response to recent lockdown measures introduced by the UK government. This announcement comes as businesses across the country are being urged to work from home if possible. Between November 5 and December 2, the space will remain ... Read the full article

Apollo sees major property cat opportunities in Pelican, JC Flowers partnership

3rd November 2020

Independent specialist re/insurer Apollo Syndicate Management has underlined the opportunities it sees in the property catastrophe reinsurance space, ahead of its operational partnership with Pelican Ventures and J.C. Flowers & Co. It was announced yesterday that Argo had reached an agreement for the two private equity investors to acquire its ... Read the full article

MNK Re to acquire majority stake in Prospect Brokers Africa

3rd November 2020

Specialty Lloyd’s broker MNK Re is set to acquire a majority stake in Prospect Brokers Africa, an independent South African reinsurance broker. Prospect Brokers was established in December 2019 by former RFIB Africa director Neesha Parbhoo. The company specialises in reinsurance, wholesale insurance and binding authorities placed into regional and international markets. This ... Read the full article

Argo agrees Ariel Re sale to Pelican Ventures, JC Flowers

2nd November 2020

Argo Group has reached an agreement with Pelican Ventures and J.C. Flowers & Co that will see the two private equity investors acquire property and casualty reinsurance underwriter Ariel Re for an undisclosed sum. Terms for an operational partnership with Apollo Syndicate Management have been also agreed upon. The partnership will be ... Read the full article

Carnegie-Brown calls for government intervention on COVID cover

26th October 2020

Bruce Carnegie-Brown, Chairman of insurance and re/insurance marketplace Lloyd’s of London, has voiced his support for a government initiative that would provide a backstop for pandemics, as well as other forms of systemic risks. Speaking in an interview with the Telegraph, Carnegie-Brown explained how COVID-19 has shown that pandemic risk is ... Read the full article

Lloyd’s approves new syndicate-in-a-box, Picnic 2460

22nd October 2020

Asta, a third-party managing agent at Lloyd’s, has received approval for the launch of Picnic Syndicate PIC 2460 (Picnic), a syndicate-in-a-box due to commence underwriting on January 1. Picnic will initially provide re/insurance to the mutuals that parent Picnic Labs forms and develops in Australia and New Zealand. Picnic will first focus ... Read the full article

Apollo adds Richard Panter as head of specie, cargo at Syndicate 1969

20th October 2020

Independent specialist re/insurer Apollo Syndicate Management has added Richard Panter as head of specie and cargo at Apollo Syndicate 1969. Panter brings over 37 years’ experience in the insurance market and reports to Paul Letherbarrow, head of aviation and member of the executive committee. Before joining Apollo, he had been head of fine art ... Read the full article

O2 Broking registered as first Lloyd’s broker in Denmark

19th October 2020

O2 Broking ApS has been approved as the first Lloyd’s Registered Broker in Denmark as part of the re/insurance marketplace's preparations for Brexit. Lloyd's previously established a hub in Brussels to help it transition smoothly as the UK exits the European Union. However, subject to current negotiations between UK and EU about ... Read the full article

ICMR launches Lloyd’s syndicate capital & performance analysis tool

19th October 2020

Insurance and capital markets quantitative analysts ICMR has announced the release of its Lloyd’s syndicate capital and performance analysis tool. ICMR.Matrix is a cloud-based tool able to compare the relative performance of various syndicates against their relative capitalisation over different time periods. This allows clients to see how these factors impact returns ... Read the full article

LMG provides update on business environment workstream

19th October 2020

The London Market Group has provided an update on the progress of its work with the UK Government aimed at developing new trading opportunities. Part of the workstream's goal is to engage with the UK government, parliamentary parties and the civil service to provide clarity on the position of the London ... Read the full article

SRL makes rating adjustments for Lloyd’s Syndicate 33

15th October 2020

Syndicate Research Limited (SRL) has provided rating adjustments for Hiscox Syndicates Limited-backed, Lloyd's syndicate 33. SRL has downgraded the A (Very Good), negative outlook, Continuity Opinion of Lloyd's syndicate 33 to an A- (Good) rating. The downgrade comes in light of the syndicate’s more recent performance aligning the its overall scorecard assessment ... Read the full article

Elisabetta Ibba appointed CEO of Lloyd’s broker AEC

12th October 2020

Coverys European Holdings (CEH), a division of Coverys, has added Elisabetta Ibba as Chief Executive Officer of its Lloyd's broker subsidiary AEC Group. Ibba brings over two decades' experience to the role and has been with AEC since 2004, when she was appointed to manage its Lloyd's business. She takes up her ... Read the full article

Lloyd’s report calls for simpler insurance products

12th October 2020

In the wake of the COVID-19 pandemic, a new report from insurance and reinsurance marketplace Lloyd’s of London has called on insurers to build simpler products to protect customers. The report sets out a number of ways in which the global re/insurance industry could remove complexity and provide better coverage clarity ... Read the full article

It’s time to go back to basics, says Lloyd’s CEO Neal

9th October 2020

When considering the new risks of the age, the re/insurance industry needs to go back to basics and prioritise educating people around the benefits of insurance, according to John Neal, Chief Executive Officer (CEO) of Lloyd's of London. As emerging and systemic risks such as cyber and climate change, to name ... Read the full article

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