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.

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

Markel becomes second syndicate to join Lloyd’s India platform: Reports

24th April 2017

Markel is set to become the second syndicate to join Lloyd's India operations, after the specialist insurance and reinsurance market kicked off its India market expansion in April with MS Amlin as the first syndicate to join its newly launched domestic India reinsurance branch, the India Express has reported. Markel International Underwriter, ... Read the full article

Pace of change to accelerate at Lloyd’s as performance deteriorates: Macquarie

19th April 2017

Analysts at Macquarie predict the pace of change at the Lloyd's of London specialist insurance and reinsurance market to accelerate in the coming months after a challenging 2016, underlined by the continued deterioration of underwriting performance. Macquarie believes the Lloyd's marketplace is undergoing a "structural revolution" that is likely to change ... Read the full article

Lloyd’s prepared to negotiate with Indian regulators: John Nelson

11th April 2017

Lloyd’s Chairman, John Nelson, said in an interview with the India Economic Times, that Lloyd’s would shift away from an India focus mostly surrounding reinsurance and expand into direct and specialist lines, after the first Lloyd’s syndicate, MS Amlin,  joined the India platform. Lloyd’s already writes $220 million in offshore ... Read the full article

Lloyd’s adds new Council and Franchise Board appointments

6th April 2017

Lloyd's of London has named Gregory Fleming as a nominated member of the Council of Lloyd's and Patricia Jackson as an independent non-executive director of the Franchise Board, with the pair set to serve an initial term of three years. Fleming replaces Henrique Meirelles, who stepped down from the Council last ... Read the full article

Lloyd’s India branch opens, welcomes MS Amlin as first syndicate

5th April 2017

Lloyd's of London has officially opened its India branch office today and has welcomed MS Amlin as the first syndicate (which we covered yesterday here) to join the branch and begin underwriting as of the 1st April. A ceremonial Lloyd's policy was signed today and witnessed by the UK Chancellor ... Read the full article

MS Amlin the first to launch on Lloyd’s India platform

4th April 2017

Commercial insurance and reinsurance specialist MS Amlin is the first company to have been welcomed to the new Lloyd's of London India branch office. According to an announcement from the UK Department of Trade, the news that MS Amlin would be the first syndicate manager to operate out of the Lloyd's ... Read the full article

Investments offset underwriting decline at Lloyd’s of London

30th March 2017

The Lloyd's of London market announced its results today, revealing a decline in its underwriting profitability as the combined ratio increased to 97.9%, but pre-tax profits were flat at £2.1 billion as investment returns jumped. The fact that underwriting has become increasingly less profitable at Lloyd's of London, on a market-wide ... Read the full article

Lloyd’s of London chooses Brussels for EU base

30th March 2017

The specialist Lloyd’s of London insurance and reinsurance market has selected Brussels, Belgium as its European Union home with the aim being to be ready to underwrite business there for the 1st January 2019 renewal season. Lloyd's has been looking for an EU base for a subsidiary insurance company, to secure ... Read the full article

Re/insurers’ future in combining risk reduction and transfer: RMS Exceedance conference

29th March 2017

Speaking to A.M. BestTV at the RMS Exceedance 2017 conference, insurers and risk modelers said risk professionals are shifting their focus to emphasize risk reduction as part of a more comprehensive insurance cover plan. Robert Muir Wood, RMS, said the future of insurance was in “how you combine risk reduction and risk ... Read the full article