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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.

Cats drive £1 billion market loss at Lloyd’s for 2018

27th March 2019

The specialist Lloyd's of London insurance and reinsurance marketplace has announced an aggregated market loss of £1 billion for 2018, driven by a volatile investment environment and a costly year for natural catastrophe events. The £1 billion aggregated market loss compares with a loss of £2 billion a year earlier. A ... Read the full article

Lloyd’s outlines plan to address sexual harassment in the market

26th March 2019

Insurance and reinsurance marketplace Lloyd’s of London has outlined a new plan of action to address reports of sexual harassment in the market and create a “safe and inclusive” working environment. The new proposals are intended to increase reporting, impose strong sanctions on inappropriate behaviour, and promote better understanding and awareness ... Read the full article

Lloyd’s announces departure of CRO Hilary Weaver

25th March 2019

Hilary Weaver, Chief Risk Officer at Lloyd’s of London, is to leave the organisation at the end of March 2019. Weaver joined Lloyd’s in 2004 as Head of Internal Audit and became CRO in April 2016, joining Lloyd’s Executive Committee. Her responsibilities included risk management, compliance, international regulatory affairs, government affairs and ... Read the full article

Upward pressure on Lloyd’s rates despite loss of momentum: Peel Hunt

25th March 2019

Analysts at Peel Hunt believe there remains upward pressure on re/insurance rates in the Lloyd’s market in 2019 despite an apparent loss of momentum since the first half of 2018. The firm noted that rates were fairly flat at the January renewals, which were dominated by Europe, but expects the upcoming ... Read the full article

Charles Taylor details run-off plans for Syndicate 1884

21st March 2019

Charles Taylor Managing Agency (CTMA) has provided details of its run-off plan for Syndicate 1884, which stopped writing business in January 2019 after its major capital provider withdrew support following the Lloyd’s Performance Management Directorate last year. CTMA is looking to close the Syndicate 1884 book at the end of ... Read the full article

China Re launches renewable energy consortium at Lloyd’s

11th March 2019

China Re Corporation has announced the launch of a renewable energy consortium at Lloyd’s, focused on reinsurance for the construction and operation of offshore wind farms in mainland China. China Re’s Syndicate 2088 manages and co-leads the consortium alongside Canopius Syndicate 4444 and Travelers Syndicate 5000. It is also supported Chaucer Syndicate ... Read the full article

Hayley Spink named Head of Global Operations, Lloyd’s of London

7th March 2019

Lloyd's of London has announced the appointment of Hayley Spink as Head of Global Operations, succeeding Joe Dainty, who leaves the marketplace in March to join DXC. In her new role, Spink will report to Chief Operating Officer (COO), Shirine Khoury-Haq. She joined Lloyd's in 2007 and has served in a number ... Read the full article

LMA appoints new Operations, Finance Director

7th March 2019

The Lloyd's Market Association (LMA) has appointed Rob Myers and Paul Davenport as Operations Director and Finance Director, respectively. Myers began his career nearly 20 years ago at Lloyd’s and has since held a number of senior roles in Xchanging, and most recently CSC and DXC Technology. Davenport has held senior positions ... Read the full article

Lloyd’s Brussels given nod for Monaco licence

5th March 2019

Lloyd’s Brussels, a recently-launched subsidiary designed to place and process European business post-Brexit, has received authorisation to underwrite re/insurance risks located in Monaco. The subsidiary has appointed France Country Manager Guy-Antoine de La Rochefoucauld as its General Representative for Monaco and as its fiscal representative for the territory. Lloyd’s Brussels is not, ... Read the full article

AEGIS London adds Tom Squires as Head of Digital Trading

4th March 2019

Lloyd’s managing agency AEGIS London has announced the appointment of Tom Squires as Head of Digital Trading, a newly created role. Squires, who previously served as AEGIS London’s Deputy Head of Casualty, will oversee the firm’s online quote-and-bind platform OPAL (Online Platform Aegis London). “We are investing in digital trading across the ... Read the full article

Skuld to exit Lloyd’s in July

1st March 2019

Marine insurer Skuld is to cease underwriting business from its Lloyd’s Syndicate 1897 from 1 July 2019 in an effort to improve profitability. Skuld will instead underwrite all hull and offshore energy business on the A-rated corporate paper of Skuld Assuranceforeningen, through Skuld UK in London and SMA in Oslo. “Our overriding ... Read the full article

Brit’s third-party capital hits $440m as Versutus sidecar renewed

25th February 2019

Global specialty re/insurer Brit Limited has completed the fifth annual renewal and expansion of its Versutus sidecar, bringing the total amount of third-party capital under management to $440 million. This capacity is spread across the Versutus 2019, Sussex Capital (its multi-use collateralised reinsurance PCC vehicle in the UK) and its Lloyd's Syndicate ... Read the full article

Eurobase’s synergy2 platform delivered in step with London Market TOM

21st February 2019

Eurobase International Group, an international software and service provider to financial institutions, has announced that its Synergy2 platform is the first to go into production with integrated Structured Data Capture (SDC), allowing for the delivery of straight-through processing for risk creation via the Global Placement Message (GPM). SDC is an online ... Read the full article

Lancashire to write post-Brexit business through Lloyd’s Brussels

15th February 2019

Specialty insurance and reinsurance group Lancashire Holdings intends to use Lloyd’s recently established European hub in Brussels to write business after the UK leaves the European Union, according to reports from Reuters. Speaking in an interview with the publication, Alex Maloney, Chief Executive Officer (CEO) at Lancashire, said: “We have negotiated ... Read the full article

Ascot & Beazley launch tech-driven cargo consortium at Lloyd’s

12th February 2019

Ascot and Beazley have partnered on the launch of a new Lloyd’s based cargo consortium that uses insurtech solutions to help manage risk and claims performance. The A2B consortium, which aims to cement Lloyd’s position in the global cargo market, brings together a range of carriers to provide a maximum of ... Read the full article

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