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.

Re/insurers’ future in combining risk reduction and transfer: RMS Exceedance conference

29th March 2017

Speaking to A.M. BestTV at the RMS Exceedance 2017 conference, insurers and risk modelers said risk professionals are shifting their focus to emphasize risk reduction as part of a more comprehensive insurance cover plan. Robert Muir Wood, RMS, said the future of insurance was in “how you combine risk reduction and risk ... Read the full article

Lloyd’s obtains licence to operate as a reinsurer in Nicaragua

29th March 2017

The specialist Lloyd's of London insurance and reinsurance marketplace has been granted a licence by the Nicaraguan insurance regulator, Superintendencia de Bancos y Otras Instituciones Financieras (SIBOIF), to operate as a foreign reinsurer in Nicaragua. In July 2015 new regulation from SIBOIF saw the establishment of a register for foreign reinsurance entities and ... Read the full article

City policyholders should bolster infrastructure resilience: Lloyd’s

27th March 2017

In a recent report on risk management of city infrastructure, Lloyd’s of London stressed cities needed to take a more comprehensive approach to build risk resilience, and highlighted ways the insurance industry and stakeholders could collaborate more closely to improve infrastructure management. With booming populations, cities are especially vulnerable to disaster exposure, ... Read the full article

Study suggests £4 billion Brexit impact to London reinsurance market

24th March 2017

As Britain prepares to release the final Article 50 trigger to kick-off EU exit negotiations and the City of London braces for the anticipated knock-on blow, London School of Economics (LSE), Financial Markets Group director, Simeon Djankov, has set ensuing annual reinsurance revenue loss estimates at £4 billion. London's finance sector ... Read the full article

Lloyd’s to announce location of EU subsidiary by end of month: Reports

24th March 2017

The specialist Lloyd's of London insurance and reinsurance marketplace is to reveal the location of its post-Brexit EU subsidiary on the same day Prime Minister Theresa May triggers Article 50, which marks the start of the official UK Brexit process, according to Sky News. The Lloyd's council is due to meet ... Read the full article

IUA & LMA Boards approve Single Claims Agreement Model for London market

23rd March 2017

The Boards of the International Underwriting Association of London (IUA) and the London Market Association (LMA) recently approved a proposal from the London & International Insurance Brokers' Association (LIIBA), and the broking community to develop a Single Claims Agreement Model in the London market. The proposal aims to establish a single ... Read the full article

Hannover Re acquires Lloyd’s firm Argenta Holdings

20th March 2017

Hannover Re has agreed to acquire UK holding firm Argenta Holdings - the owner of managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd's syndicate Argenta Syndicate 2121. According to Argenta, Lloyd’s Syndicate 2121 has a stamp capacity for 2017 of £300 million. The firms ... Read the full article

Lloyd’s backs liability catastrophe risk modelling methodology

14th March 2017

Insurers and reinsurers will be able to model liability exposures across entire portfolios thanks to the development of an innovative methodology that offers a new way of analysing casualty events, ultimately improving the robustness of the marketplace. The innovative data-driven methodology has been developed by risk modeller Arium in collaboration with ... Read the full article

CEA to put Lloyd’s syndicates on level playing field for reinsurance renewals

13th March 2017

The California Earthquake Authority (CEA), the main earthquake insurance provider in the State of California, is set to put Lloyd's of London syndicates on a level playing field for its future reinsurance renewals. The CEA has a strict set of guidelines for acquiring risk transfer and reinsurance, which see different providers ... Read the full article

Munich Re Syndicate CUO, Hoare elected to the Council of Lloyd’s

9th March 2017

Dominick Hoare, the Chief Underwriting Officer (CUO) for the Munich Re Syndicate Ltd, has been elected unopposed as Corporate-External member to the Council of Lloyd's, effective April 19th, 2017. Representing Munich Re Capital Limited, Hoare will take up the seat until 31st January 2020. The seat was previously held by Catlin Syndicate ... Read the full article

Lloyd’s syndicates eager to expand presence in India

7th March 2017

Lloyd's of London syndicates are looking to expand their presence in India and are keen to increase their participation in regional reinsurance business, after Lloyd's confirmed that it will establish a reinsurance branch in the country prior to the April renewal season, according to Vineet Aneja of Clasis Law. "The establishment ... Read the full article

Lloyd’s urges re/insurance industry to protect assets from “stranding”

28th February 2017

Lloyd’s has advised the re/insurance industry to take a proactive approach to assess and protect against dangers of global asset-stranding and liabilities, as climate change-related regulation and taxation policies pose a growing threat to the security of portfolio investments. Lloyd’s partnered with the University of Oxford Smith School of Enterprise and ... Read the full article

Poor year forecast for Lloyd’s of London underwriters

24th February 2017

As results for the last fiscal year roll in RBC Capital Markets equity analysts project a further year of dragging results for Lloyd's underwriting, after 2016 reports have continued to show declines in what's been a year on year deterioration. “The Lloyd's market posted a 98% combined ratio at 1H16, and ... Read the full article

Lloyd’s “absolutely committed” to Latin America: Inga Beale

23rd February 2017

The specialist Lloyd's of London insurance and reinsurance marketplace is "absolutely committed" to Latin America and will continue to expand its presence and capabilities in the region, ultimately helping to increase insurance penetration levels, according to Lloyd's Chief Executive Officer (CEO), Inga Beale. In a keynote speech delivered at Lloyd's of London's ... Read the full article

Modernisation, Brexit are top priorities for Lloyd’s Market Association (LMA)

21st February 2017

Modernisation of the Lloyd's and London insurance and reinsurance market, as well as the impact of Brexit on the market are considered top priority for 2017 at the Lloyd's Market Association (LMA). Speaking to chief executives from the Lloyd’s of London managing agency community, LMA CEO David Gittings said that as ... Read the full article

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