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.
Marine market is still adjusting to ongoing Lloyd’s efforts: Marsh JLT Specialty
10th October 2019
The Marine market continues to adjust to the efforts of the Lloyd's of London market to improve profitability, and as dedicated marine syndicates continue to close, Marsh JLT Specialty has questioned what is at stake should pricing remain at current levels. In response to falling profits driven in part by underperforming ... Read the full article
Canopius wraps up Lloyd’s merger with AmTrust
3rd October 2019
Global specialty re/insurer Canopius Group has completed its previously-announced merger with AmTrust's Lloyd's operations. The merger between Canopius Lloyd’s Syndicate 4444 and AmTrust Syndicate 1861 was first announced back in April and will result in the establishment of a top-five Lloyd’s insurer with combined premiums of roughly £2.2 billion. It is believed ... Read the full article
Market groups commend collaborative approach of Lloyd’s Blueprint One
1st October 2019
Representatives from various market groups have released statements commending the approach proposed by Lloyd’s Blueprint One, which outlines the first phase of the marketplace’s new strategy for change. Industry executives praised the collaborative approach utilised by Lloyd’s, which says it has attempted to respond to the demands of the market. “This Blueprint ... Read the full article
Munich Re sponsoring first Syndicate-in-a-Box at Lloyd’s
1st October 2019
Insurance and reinsurance marketplace Lloyd’s of London has announced that Munich Re will launch the first new ‘Syndicate-in-a-Box’ through its established Lloyd’s vehicle Munich Re Syndicate Limited. The announcement was made as part of the release of Blueprint One yesterday, which outlines how the first phase of Lloyd's strategy for ... Read the full article
Lloyd’s outlines strategy for change in Blueprint One
30th September 2019
Insurance and reinsurance marketplace Lloyd’s of London has released a new document outlining how the first phase of its strategy for change will be delivered, following the launch of the Future at Lloyd's prospectus back in May. Blueprint One proposes to enhance Lloyd’s value proposition to customers by offering better ... Read the full article
London Market Group to end TOM modernisation program
27th September 2019
The Board of the London Market Group (LMG) has confirmed today that the Target Operating Model (LM TOM) has been wound down in its current form, having delivered the majority of proposed solutions. The LM TOM was considered a core component of the market modernisation proposal, set out by the LMG, ... Read the full article
Lloyd’s to continue leveraging MIS’ satellite imagery service
27th September 2019
McKenzie Intelligence Services (MIS), a provider of imagery and geospatial intelligence, has been highlighted by Lloyd’s as a key component of its ongoing modernisation drive. 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 initiatives contained within ... Read the full article
Price Forbes acquires stake in HK broker Sino
25th September 2019
Independent Lloyd's of London insurance broker Price Forbes has purchased a minority stake in Hong Kong-based Sino Insurance and Reinsurance. Since its founding in 2006, Sino has focused on providing risk management and insurance solutions for Chinese multinational companies’ overseas investments and infrastructure construction, engineering, project management, and various aspects of ... Read the full article
Lloyd’s announces new parametric solution targeting hotel profit protection
24th September 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has announced the launch of the first policy developed by Lloyd's Product Innovation Facility, a parametric solution targeting the hotel industry. The Lloyd's Product Innovation Facility was launched in June of this year to accelerate the development of re/insurance solutions for new ... Read the full article
LMA heads pledge support to Lloyd’s harassment actions
24th September 2019
The Board of the Lloyd’s Market Association (LMA) has pledged to work actively through a CEO reporting network to tackle sexual misconduct in the market, following the implementation of new inclusivity measures at Lloyd’s. Lloyd’s said earlier today that it would introduce the new program of measures after the results ... Read the full article
Lloyd’s harassment survey prompts stronger inclusivity measures
24th September 2019
Lloyd’s of London has announced a new program of measures to foster a safer and more inclusive working environment after the findings of a recent survey revealed widespread issues regarding sexual harassment and employee wellbeing in the marketplace. The culture survey, which was commissioned by Lloyd’s in the wake of public ... Read the full article
Lloyd’s performance improvements not yet sufficient, says KBW
20th September 2019
Analysts at Keefe, Bruyette & Woods (KBW) have contended that the Lloyd’s of London results for the first half of 2019 show necessary but insufficient improvements in the performance of the insurance and reinsurance marketplace. Lloyd’s released its H1 results earlier this week, reporting a £2.3 billion profit before tax, ... Read the full article
Nephila looks to reduce Lloyd’s costs with finance platform from Phinsys
19th September 2019
Nephila Syndicate Management Ltd (NSML) has selected the suite of finance and accounting products from software provider Phinsys to help streamline its financial processes and automate statutory, regulatory and management reporting. Nephila Syndicate 2357 is set to migrate from third party management to its own independent managing agency in October, and ... Read the full article
Pricing, modernisation among top concerns for Lloyd’s CROs: LMA survey
19th September 2019
A market survey by the Lloyd's Market Association in conjunction with PwC has identified pricing, cost reduction, change management, market modernisation, and competition as the top five risks facing Lloyd’s. For Chief Risk Officers within Lloyd’s managing agencies, these internal factors rank ahead of external factors such as cyber risk and ... Read the full article
Arch, Marsh collaborate on insurance solution for digital assets
18th September 2019
Arch Insurance UK, a division of Arch Insurance International, has partnered with global re/insurance brokerage Marsh on a new solution designed to protect digital asset private keys held in traditional vault facilities. A private key, in this context, is essentially a string of numbers and letters that leads to a digital ... Read the full article
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