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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.

Brit & Google Cloud launch first algorithmically driven Lloyd’s Syndicate, Ki

13th May 2020

Specialty insurer and reinsurer Brit has collaborated with Google Cloud to launch Ki, a fully digital and algorithmically-driven Lloyd's of London syndicate designed to redefine the commercial insurance market as a 'follow-only' syndicate. The new standalone business is expected to launch in 2021, and the pair state that its creation marks ... Read the full article

AEGIS London bolsters executive team

13th May 2020

Lloyd’s managing agency AEGIS London has added Katie Wade as Chief Financial Officer and announced the appointment of Rhic Webb to the newly created role of General Counsel and Company Secretary later this year. Both will report to Managing Director David Croom-Johnson. Wade was most recently Group CFO with insurer ERS. Having ... Read the full article

Arch’s Lloyd’s Syndicate 2012 leads $100mn Crypto.com policy

12th May 2020

Arch Underwriting at Lloyd's Syndicate 2012 has helped provide a $100 million direct insurance policy to Crypto.com, a cryptocurrency finance platform formed in 2016. This is the largest coverage that Crypto.com has secured for its cold storage assets on custodial partner Ledger Vault. The new policy brings Crypto.com's total cryptocurrency insurance to ... Read the full article

HSCM Bermuda backs AIG’s Syndicate 2019 at Lloyd’s

11th May 2020

Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, has announced that it has provided capital support for Lloyd’s newly launched Syndicate 2019. The investment manager, which conducts its insurance and reinsurance business as HSCM Bermuda, says the move represents an opportunity to access the ... Read the full article

RenRe appoints Cruttenden active underwriter of Lloyd’s Syndicate 1458

6th May 2020

Bermudian reinsurer RenaissanceRe has appointed Ed Cruttenden active underwriter of its Syndicate 1458 at Lloyd’s. Bryan Dalton, the previous active underwriter for Syndicate 1458, will assume responsibility for underwriting across the company’s European platform as Chief Underwriting Officer – Europe. In addition to managing business written at the Syndicate, Cruttenden will also ... Read the full article

Lloyd’s updates 2021 business plan process amid COVID-19

6th May 2020

Insurance and reinsurance marketplace Lloyd’s of London has laid out its process for agreeing 2021 business plans and capital requirements, which it says now reflect the challenges posed by COVID-19. The approval process for business plans will involve a three-tiered approach, following on from the pilot of Lloyd’s ‘Light Touch’ approach ... Read the full article

AIG’s Syndicate 2019 at Lloyd’s approved to commence underwriting

4th May 2020

American International Group, Inc.'s (AIG) previously announced Lloyd's Syndicate 2019 has received approval to commence underwriting. Described by the insurer and reinsurer as a landmark Syndicate, AIG's Syndicate 2019 is the largest ever to be launched through the specialist Lloyd's of London re/insurance marketplace. The Syndicate will exclusively reinsure risks from ... Read the full article

TigerRisk adds Lawrence Po-Ba to Lloyd’s capital & investment role

4th May 2020

Insurance and reinsurance brokerage TigerRisk Partners has appointed Lawrence Po-Ba to focus on capital solutions for Lloyd‘s Syndicates. Po-Ba was previously Head of Lloyd’s Specialty Lines and a Partner at Securis Investment Partners LLP. Before that, he was the Lloyd’s Client Manager for SCOR, managing their corporate member at Lloyd’s, as well ... Read the full article

Half of Lloyd’s 20-year profits shared with reinsurers: ICMR

4th May 2020

New analysis from ICMR shows that roughly half of the gross profit generated in the Lloyd’s market over the last two decades has been shared with reinsurers. Cumulatively, Lloyd’s has written £448 billion of gross premium since 2000, with a long-term combined ratio of 98% and a cumulative net profit ... Read the full article

Asta launches syndicate-in-a-box at Lloyd’s

1st May 2020

Asta, a third-party managing agent at Lloyd’s, has launched syndicate 4747, its first syndicate-in-a-box. The syndicate has received in-principle approval from Lloyd’s to start writing business effective July 1, with stamp capacity of £15 million in year one, estimated to rise to £62.5 million in year three. 4747 is a specialist syndicate ... Read the full article

London market modernisation could accelerate post-pandemic: Bolton, Gracechurch

29th April 2020

Certain trends across the London insurance and reinsurance market that were in motion prior to the COVID-19 outbreak are expected to accelerate as a result of the pandemic, according to Ben Bolton, Managing Director at Gracechurch Consulting. Prior to the rapid spread of the ongoing COVID-19 pandemic, the Lloyd's and wider ... Read the full article

COVID-19 could be biggest ever industry loss, warns Lloyd’s CEO

24th April 2020

John Neal, Chief Executive Officer (CEO) of Lloyd’s of London, has said that the coronavirus (COVID-19) pandemic could be the most expensive event in history for the re/insurance industry. Speaking to the Financial Times, Neal said that the crisis will likely dwarf other major disasters such as Hurricane Katrina in 2005 ... Read the full article

Aon secures Lloyd’s accreditation for reinsurer trading portal

22nd April 2020

Global re/insurance broker Aon has received accreditation from Lloyd’s for its reinsurer trading portal, ABConnect Placements. The Lloyd’s Franchise Board provided ‘conditional recognition’ of the platform following the recent deployment of Aon’s binding function, so valid contracts can be written as ePlacements. Gaining approval from Lloyd’s as part of the electronic placing ... Read the full article

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

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