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.
Lloyd’s needs to address “unsustainable” underwriting performance: Hancock
26th June 2017
John Hancock, the Performance Management Director at Lloyd's of London, warned that the market needs to "address its decline in underwriting performance because the current trend is not sustainable" in a recent speech. Speaking to private or independent capital providers to the insurance and reinsurance market at the Association of Lloyd's ... Read the full article
CATRisk launches Lloyd’s sponsored Middle East earthquake risk model
20th June 2017
CATRisk Solutions has released a new Lloyd's sponsored earthquake risk model, which offers bespoke solutions for risk assessment in the Middle Eastern region - where according to the model, nearly one fifth of the population live in areas at risk of earthquakes. The new risk tool, which has been released on the Oasis ... Read the full article
Bruce Carnegie-Brown starts as Lloyd’s Chairman today
15th June 2017
Bruce Carnegie-Brown has formally begun his position as the Chairman of the Lloyd's of London specialist insurance and reinsurance market today. Carnegie-Brown takes over from the outgoing John Nelson who has retired from the position. Carnegie-Brown commented on the appointment; “I am very excited to get started. In the months since my ... Read the full article
Patria Re hires Nick Benardout to manage Lloyd’s SPS operations
13th June 2017
Mexican reinsurer Patria Re, or Reaseguradora Patria, has appointed Nick Benardout to manage its special purpose syndicate (SPS) at Lloyd's and the firms London operations. Benardout joined Patria Re yesterday to run the firms PAT6125 special purpose syndicate at Lloyd's of London. He has been hired to run the London office ... Read the full article
Lloyd’s needs to raise its profile to be a market for the future: Cavanagh
7th June 2017
The growth of insurance and reinsurance centres around the world, the consolidation of the broker community, and challenging market conditions have created an increasingly competitive operating landscape, driving a need for the Lloyd's of London marketplace to raise its profile, warns Willis Re Chief Executive Officer (CEO), John Cavanagh. International ratings agency A.M. ... Read the full article
Re/insurers need proactive cyber development and marketing strategies: Inga Beale
5th June 2017
Speaking at Mexico's AMIS Insurance Conference, Lloyd's Inga Beale reiterated the urgency of getting aboard the cyber insurance market, which she said could triple in size to $7.5 billion by 2020. "I don’t think that, as a sector, we are doing enough to promote the benefits of cyber insurance and make ... Read the full article
Reinsurers should work against rising tide of protectionism: Inga Beale
1st June 2017
Lloyd's Chief Executive Officer (CEO) Inga Beale has urged reinsurers to get to work against the trend of growing protectionism, citing increasing obstacles confronting reinsurers as barriers to international trade continue to go up across the globe, in the European re/insurance federation's latest annual report. "We need to continue our engagement and ... Read the full article
Mexico and Latin America seen as growth markets for Lloyd’s: Inga Beale
30th May 2017
Inga Beale highlighted Latin America and Mexico as a key region and growth opportunity for Lloyd's, as the centuries-old re/insurer positions itself for further growth in the emerging market and seeks to strengthen ties, perhaps especially in light of a post-Brexit operating environment, in a speech at the Mexico AMIS ... Read the full article
Lloyd’s market hit a “turning point” in 2016, listed insurers outperforming market: RBC
25th May 2017
Difficult global insurance and reinsurance market conditions over the past few years intensified in 2016 fuelling additional earnings pressure on both listed Lloyd's insurers and the overall, Lloyd's of London marketplace. And analysts at RBC Capital Markets feel that those with less correlation to Lloyd's market trends are likely to ... Read the full article
ProAssurance puts $200m into Dale Syndicate 1729
25th May 2017
ProAssurance Corporation has expanded its commitment to Lloyd's of London insurance and reinsurance underwriting group Dale Underwriting Partners, adding $200 million to its capital commitment to Syndicate 1729, through to the 2022 year of account. Duncan Dale chief executive, Dale Underwriting Partners, commented on the capital injection; "ProAssurance has been keen ... Read the full article
Beazley, Talbot, and Chaucer develop Asian Political Risk Consortium
19th May 2017
Lloyd's of London re/insurers Beazley, Chaucer, and Talbot have collaborated on the launch of a Political Risk Consortium in Asia, providing capacity of up to $130 million for individual risks. The new Political Risk Consortium in Asia will offer increased capacity for a variety of political and contract frustration exposures. Offering ... Read the full article
Lloyd’s agrees to pay compensation for South Korea Sewol ferry victims
17th May 2017
Lloyd's of London and Korean Re have reached an agreement to pay more than 100 billion won (US$89 million) for South Korea's Sewol ferry accident victims after two years of negotiating whether or not insurance claims were valid due to the ferry owner failing to operate according to regulations, the ... Read the full article
Tokio Marine Kiln updates on Lloyd’s Syndicates improvements
15th May 2017
Tokio Marine Kiln has revealed the latest forecasts for its Lloyd's Syndicates, announcing improvements on the 2015 year of account driven by favourable claims development. Tokio Marine Kiln Syndicates Limited operates Syndicates 510, 557, and 308 at the Lloyd's of London specialist insurance and reinsurance marketplace, and has now released ... Read the full article
Lloyd’s Inga Beale calls on the City of London to support re/insurance modernisation
10th May 2017
Lloyd's Chief Executive Officer (CEO), Inga Beale, has said London's access to talent and emerging markets must be prioritised if the city's re/insurance industry is to thrive in future years. And while these factors could become increasingly challenged in an era of populism and protectionism, Beale said she believes Brexit could ... Read the full article
New EU base to boost Lloyd’s European market share: John Nelson
27th April 2017
Chairman of the specialist Lloyd's of London insurance and reinsurance marketplace, John Nelson, has said the establishment of a base in mainland Europe will help the insurer increase its European market share. Lloyd's announced earlier this year that it would establish an insurance subsidiary in Brussels, Belgium, as its European Union ... Read the full article
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