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.
Coverys adds Robert Forster as Director of Underwriting
21st April 2020
Coverys Managing Agency has announced the appointment of Robert Forster as director of underwriting. Forster’s appointment is effective June and he succeeds Phil Sloan, who is due to retire from the position. He brings over three decades of specialist underwriting experience to Coverys and most recently served as Chief Underwriting Officer and ... Read the full article
Sompo to consolidate London presence, cease writing business from Lloyd’s
15th April 2020
Bermuda-based P&C insurer and reinsurer, Sompo International Holdings Ltd., has announced that as part of its ongoing transformation, it plans to consolidate its London presence into a single company platform. Effective January 2021, Sompo International will cease writing business from Endurance at Lloyd's or Syndicate 5151, with all renewals and new ... Read the full article
Lloyd’s adds country managers for Mexico, Colombia
15th April 2020
Lloyd’s has announced the appointment of Yelhis Hernandez as country manager for Mexico and Sebastian Gomez as country manager for Colombia as the company looks to bolster its market in Latin America. Based in Mexico City, Hernandez has been conducting the role since September 2019 with a focus on improving Lloyd’s ... Read the full article
D L Dale & Others, Syndicate 2525 adds Harcus as head of Intl casualty
9th April 2020
Specialist employers' and third party liability Lloyd's insurer D L Dale & Others, Syndicate 2525, has announced the appointment of Charles Harcus as head of international casualty. Harcus joins from Apollo Syndicate where he has served as head of international casualty since 2014. Prior to this, he was portfolio manager, international casualty, ... Read the full article
Lloyd’s appoints country managers for Benelux regions
9th April 2020
Lloyd’s Insurance Company S.A. has announced several senior appointments to countries in the Benelux regions, including the Netherlands, Belgium, and Luxembourg. Firstly, Iwan Ropcke has been appointed as the interim LIC Country Manager for the Netherlands and Belgium, with effect from 1 January 2020. Most recently, Ropcke served as Business Strategy & ... Read the full article
RiskBook approved by Lloyd’s as reinsurance e-placement tool
9th April 2020
RiskBook Ltd., an independent provider of reinsurance placement technology, has been approved by the specialist Lloyd's of London re/insurance marketplace as a recognised electronic placement system for open market reinsurance business. The announcement marks the first time that brokers from any firm can leverage a single user-friendly placement tool for global ... Read the full article
Lloyd’s asks members hit by COVID-19 to recapitalise fast
8th April 2020
The specialist Lloyd's of London insurance and reinsurance marketplace has reportedly asked members who have experienced sizeable losses as a result of the COVID-19 coronavirus pandemic to accelerate capital injections. In response, analysts at S&P Global Ratings have said that calling on certain Lloyd's members to accelerate recapitalisation will ultimately help ... Read the full article
Lloyd’s revises Claims Scheme amid ongoing COVID-19 challenges
8th April 2020
The specialist Lloyd's of London insurance and reinsurance marketplace has announced changes to the Lloyd's Claims Scheme to help managing agents respond effectively during the global coronavirus pandemic. Lloyd's, the oldest insurance market in the world, explains that the changes, which are effective immediately, amend the Claims Scheme requirements to empower ... Read the full article
PPL usage and adoption growing at pace during COVID-19
8th April 2020
In the three weeks since the London insurance and reinsurance market started working remotely as a result of the global coronavirus pandemic, the number of unique users on the Placing Platform Limited (PPL) has increased by 40%. PPL, the London market's electronic placing platform, has been tracking both activity and performance ... Read the full article
COVID-19 will make challenging Lloyd’s conditions more difficult: AmWINS
8th April 2020
Analysts at AmWINS have suggested that the coronavirus (COVID-19) pandemic has and will continue to make already-challenging market conditions at Lloyd’s of London even more difficult. The firm acknowledged that Lloyd’s and its syndicates had extensively tested their systems in preparation for a crisis, and said that the transition to remote ... Read the full article
Lloyd’s report identifies insurance opportunities in renewable energy
3rd April 2020
A new report by insurance and reinsurance marketplace Lloyd’s of London has identified growing opportunities for re/insurers to innovate products and support the renewable technologies industry. In 2018, China, the US, Europe and India invested more than £230 billion in new renewable energy, while total investment in the power sector has ... Read the full article
Fitch puts Lloyd’s on Rating Watch Negative amid COVID-19 risks
2nd April 2020
Uncertainty and heightened risk to Lloyd's of London's earnings and underwriting performance as a result of COVID-19 claims, has pushed Fitch Ratings to place the marketplace and its operating entities on Rating Watch Negative (RWN). Fitch states that it has placed Lloyd's of London's, Lloyd's Insurance Company S.A. and Lloyd's Insurance ... Read the full article
Helios capacity outperforming Lloyd’s market average
30th March 2020
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle has announced returns on average better than the Lloyd’s market itself. The Helios outperformance is measured using the result on the capacity at the end of the year - including the capacity of the portfolios acquired which include participations on underperforming ... Read the full article
Size matters in Lloyd’s syndicate results, analysts find
30th March 2020
Analysts at Insurance Capital Markets Research (ICMR) have found that larger Lloyd’s of London syndicates were far more likely to report profitable results in 2019 than their smaller peers. The insurance and reinsurance marketplace reported a pro-forma profit of £2.5 billion last year, but its underwriting performance was unprofitable, with ... Read the full article
Focus of the Future at Lloyd’s strategy narrows in response to COVID-19
27th March 2020
The Lloyd's of London insurance and reinsurance marketplace has decided to rationalise and narrow the focus of the Future at Lloyd's strategy as it adjusts to the impacts of the global COVID-19 pandemic. Speaking during the Lloyd's 2019 annual results call, executives at the world's oldest insurance market noted the broad ... Read the full article
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