Reinsurance 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.
26th June 2020
Insurance and reinsurance marketplace Lloyd’s of London has announced the promotion of Jonathan May to the role of International Chief Financial Officer (CFO). As International CFO, May will now be responsible for finance across Lloyd’s international network. May previously served as CFO for the APAC region, having joined Lloyd’s London office in ... Read the full article
26th June 2020
Atrium Underwriters, the managing agent for Lloyd’s Syndicate 609, has announced the appointment of Chris Stooke as Non-Executive Chairman. Effective January 2021, Stooke will replace Steve Cook, who is set to retire at the end of this year. Stooke will work closely with the company's Chief Executive Officer Richard Harries and its ... Read the full article
26th June 2020
Insurance and reinsurance marketplace Lloyd’s of London has announced that it plans to reopen its London headquarters and underwriting room on September 1, with new safety measures in place. The Lloyd’s underwriting floor at 1 Lime Street has been closed since March 19 due to the ongoing COVID-19 crisis in the ... Read the full article
24th June 2020
Insurance-linked securities (ILS) investment manager Nephila Capital has announced that the Lloyd’s Council has approved its plans to form a new syndicate. Nephila’s Lloyd’s managing agency, Nephila Syndicate Management Ltd (NSM), will launch Syndicate 2358 as part of the Future at Lloyd’s initiative. The syndicate will write a diversified portfolio of Lloyd’s ... Read the full article
19th June 2020
Probitas 1492, an underwriting Syndicate at Lloyd's of London, has announced plans to establish a new managing agent, Probitas Managing Agency Limited (PMAL) to assume the management of Syndicate 1492 from Capita Managing Agency Limited. Lloyd's has granted Probitas 1492 'in principle' approval to establish the new managing agent, PMAL, which, ... Read the full article
18th June 2020
Insurance and reinsurance marketplace Lloyd’s of London has apologised for its links to the slave trade in the 18th and 19th centuries, and announced that it plans to pay reparations via donations to BAME charities. Lloyd’s released a statement condemning “the indefensible wrongdoing that occurred during this period” after its role ... Read the full article
16th June 2020
International re/insurance industry think tank, The Geneva Association (GA), has announced the additions of Lloyd's of London's John Neal, MetLife's Michel Khalaf, and Reinsurance Group of America's (RGA) Anna Manning to its Board of Directors. The appointments of Neal, Chief Executive Officer (CEO) of Lloyd's, Khalaf, President and CEO of MetLife ... Read the full article
9th June 2020
Insurance and reinsurance marketplace Lloyd’s of London has announced the launch of a new application programme interface (API) to help London Market brokers and underwriters place business electronically. The launch will form part of the Future at Lloyd’s work on developing the next generation of PPL. The new API is available immediately ... Read the full article
8th June 2020
Strong portfolio management is becoming an increasingly important tool in the London Market to deliver underwriting profit, according to a new report by Lloyd’s of London and Willis Towers Watson (WTW). The two organisations conducted a study of senior executives and underwriters in the London Market to better understand the impact ... Read the full article
5th June 2020
The specialist Lloyd's of London insurance and reinsurance marketplace has confirmed the members of its newly formed Council, effective June 1st, 2020. In May of last year, Lloyd's proposed the merger of its Franchise Board into the Lloyd's Council as part of its ongoing mission for increased efficiency. Later in the ... Read the full article
3rd June 2020
The COVID-19 pandemic has shone a light on the modernisation efforts of the Lloyd's and wider London re/insurance market, potentially driving permanent changes to the way the market both interacts and transacts its business, says A.M. Best. In recent years, the performance of the London Market has been challenged by elevated ... Read the full article
2nd June 2020
Marine insurer Skuld has reached an agreement with The RiverStone Group for the sale of its Lloyd’s Syndicate 1897, which was placed into run-off in July 2019. The transaction is subject to regulatory approval. Following a competitive process which began in autumn 2019, Skuld selected RiverStone as run-off provider for Syndicate ... Read the full article
1st June 2020
Insurance and reinsurance marketplace Lloyd’s of London has announced the appointment of Marc Lipman as President of its Canadian arm and as Attorney-in-Fact (AIF) for Lloyd’s Underwriters. He assumes the role of AIF from Lisa Duval, who stepped in last year on an interim basis and now returns to Lloyd’s International ... Read the full article
1st June 2020
As part of its response to the COVID-19 pandemic, insurance and reinsurance marketplace Lloyd’s of London is planning to explore options for a “virtual” underwriting room. The idea is to add online elements that allow brokers and underwriters to connect in a similar way to the physical 1 Lime Street location ... Read the full article
29th May 2020
Specialist re/insurer Beazley is seeing opportunities to deploy its recently raised capital for growth as the efforts of the Lloyd's marketplace drives greater underwriting discipline, reports Jefferies. Beazley announced on May 18th plans for a $300 million equity placement to support growth and to capitalise on rising rates being seen ... Read the full article
