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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 modernisation plans carry high execution risk: Moody’s

3rd September 2019

The Lloyd's of London insurance and reinsurance market's plans to modernise and reduce costs are positive, but come with a high degree of execution risk, according to Moody's. Back in May, Lloyd's announced a new strategy focused on delivering higher quality risk protection for the market’s clients. The six proposed transformational ... Read the full article

Lloyd’s broker MNK Re launches Residual Value Insurance Centre of Excellence

2nd September 2019

Specialist Lloyd's of London brokerage, MNK Re Limited, has launched a new dedicated Residual Value Insurance (RVI) Centre of Excellence. MNK Re has a specialist focus on Financial Risks, Casualty, Terrorism, Cyber risks and Marine liabilities, with clients in more than 50 countries across the world. It's been announced that Robert Prince ... Read the full article

ArgoGlobal’s Lloyd’s Syndicate 1200 to exit Asia

2nd September 2019

Lloyd's of London insurer and member of Argo Group, ArgoGlobal, has announced plans to exit Syndicate 1200 underwriting operations in Asia and the majority of its hull underwriting business within the syndicate. The move comes as part of recent actions undertaken by the firm to improve profitability in the syndicate. In ... Read the full article

SSL Endeavour bolsters leadership with two senior appointments

21st August 2019

SSL Endeavour, the specialist independent Lloyd’s broker and delegated authority expert, has announced the appointments, with immediate effect, of Jonathan Palmer-Brown and Hugh Crossland as group Non-Executive Chairman and group Chief Financial Officer respectively. Jonathan Palmer-Brown joins with over 50 years’ experience, having first entered the London market in 1968 with ... Read the full article

MS Amlin begins trading on Whitespace platform

21st August 2019

MS Amlin, the re/insurance subsidiary of Japanese insurance group MS&AD Insurance Group Holdings, has commenced trading risks on the Whitespace platform, a cloud-based solution aiming to digitise the placing process of insurance contracts at Lloyd’s. The re/insurer joined a consortium alongside AXA XL, Neon, RFIB and Antares last year in ... Read the full article

Paul Brady to lead London Market TOM delegated authority

21st August 2019

The London Market Group has appointed Paul Brady to lead the delegated authority workstream for the London Market Target Operating Model (LM TOM). Paul Brady serves as Head of Policyholder & Third Party Oversight at Lloyd's and succeeds Ian Fantozzi in this new role. Fantozzi is the Chief Operating Officer at Beazley ... Read the full article

Australian reinsurance, binder broker Wickshire gets Lloyd’s approval

15th August 2019

Sydney, Australia-based Reinsurance and Binder Broker, Wickshire Pty Ltd., has announced that it has been approved as a Lloyd's of London Broker. The approval means that Wickshire is the only Australian domiciled business to hold this status, and provides the firm's clients will direct access to the entire London Lloyd's marketplace. Wickshire, ... Read the full article

Further rate increases needed at Lloyd’s, say analysts

14th August 2019

Despite ongoing rate increases in traditional Lloyd's market classes there remains pressure to continue to improve the underwriting performance, suggesting rates will need to improve further, according to analysts at Peel Hunt. A reduction of market capacity and the impacts of the 'Decile 10' review at the specialist Lloyd's of London ... Read the full article

Tysers opens Bermuda affiliate, relocates Tomkins to lead

14th August 2019

Specialty Lloyd’s broker Tyser has announced the launch of its Bermuda-based affiliate and appointed its Managing Director of Reinsurance, Richard Tomkins, to lead the new operations. Tomkins has relocated from London to Bermuda and becomes Managing Director of Tysers Bermuda. He has over 30 years’ experience covering both mainstream and specialty areas ... Read the full article

PPL adoption up in Q2 2019, IUA usage rises

12th August 2019

Lloyd's of London Syndicates accepted 60.2% of in scope risks through electronic placement during the second-quarter of 2019, while the use of Placing Platform Limited (PPL) amongst the International Underwriting Association (IUA) companies increased to 51% in the period. This is according to the latest market-wide data for risks placed electronically ... Read the full article

Beazley appoints Roscoe to lead smart tracker syndicate

9th August 2019

Specialist insurer Beazley has appointed Will Roscoe to lead the company’s ‘smart tracker’ special purpose syndicate 5623 at Lloyd’s. Having joined the company in 2011 as an underwriter within open market property team, Roscoe will now oversee syndicate 5623's growth strategy whilst taking responsibility for underwriting the portfolio and working to ... Read the full article

Newline expands into Latin America through Lloyd’s in Mexico

30th July 2019

Specialty insurer Newline Group has joined the Lloyd's of London representative office in Mexico City, expanding its global footprint into the Latin America region. Newline has said that it will service clients in both Latin America and the Caribbean from Lloyd's in Mexico. The company's Latin American Division will commence the underwriting ... Read the full article

Lloyd’s will “wither on the vine” without modernisation: Hiscox Chairman

29th July 2019

The Lloyd's of London insurance and reinsurance marketplace will "wither on the vine" unless it is successful in its mission to modernise and become more efficient, Hiscox Chairman Robert Childs said today. With as much as 30 to 40 percent of risk transfer transaction costs going to cover expense related costs, ... Read the full article

Arcus 1856 adds RenRe’s Shepherd as Active Underwriter

12th July 2019

Arcus Syndicate 1856 at Lloyd’s has appointed Alex Shepherd as an Active Underwriter, effective immediately. Shepherd joins from RenaissanceRe Syndicate 1458, where he served as Head of Property. Before this he worked as a Deputy Property Underwriter at Canopius as well as at ACE Global Markets. Shepherd replaces David Booth, Director of Underwriting ... Read the full article

Lloyd’s initiatives receive “widespread backing” from market participants

11th July 2019

The majority of respondents to Lloyd’s of London’s six proposed transformational initiatives are confident the strategy will deliver, according to a statement released today. Lloyd’s had in May announced a new strategy focused on delivering higher quality risk protection for the market’s clients. The aims of this strategy, as spelled out ... Read the full article

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