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 outlines electronic placement mandate targets for H2 2019
3rd July 2019
Insurance and reinsurance marketplace Lloyd’s of London has outlined a set of updated targets for its electronic placement mandate, which will require syndicates to progressively write more of their risks digitally. In the third quarter of 2019, each syndicate will be required to have written no less than 60% of its ... Read the full article
Lloyd’s names Jennifer Rigby Chief Operations Officer
2nd July 2019
The specialist Lloyd’s of London insurance and reinsurance marketplace has announced that Jennifer Rigby has been appointed Chief Operations Officer (COO). After joining the Lloyd’s marketplace in 2017, Rigby has been serving as interim Lloyd’s COO since March 2019, following the departure of previous COO, Shirine Khoury-Haq. As COO of the ... Read the full article
Lloyd’s targets “syndicate in a box” launches for October: CEO John Neal
2nd July 2019
Lloyd's is targeting the launch of its first two "syndicates in a box" for October 1st, as it begins to implement its new strategic initiatives, according to CEO John Neal. The specialist Lloyd’s of London insurance and reinsurance marketplace recently announced a new strategy focused on modernisation and delivering higher ... Read the full article
Lloyd’s makes leadership appointments within EMEA region
1st July 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has appointed Mark Cooper to the newly created role of Head of Market Development for the European Market, and has also named Amit Khilosia as the new Regional Head for Africa. Cooper has been with Lloyd's since 2015 and in his new ... Read the full article
Lloyd’s launches product innovation facility to tackle complex risks
25th June 2019
Insurance and reinsurance marketplace Lloyd’s of London has launched a new initiative to speed up re/insurance product development for complex and non-standard risks, called The Product Innovation Facility. The solution was led by senior underwriters Tokio Marine Kiln, Beazley, MS Amlin, Talbot, Liberty Specialty Markets, Hiscox, Ascot, Chubb, Chaucer, Brit, Antares ... Read the full article
Innovation key as demand for insurance shifts, says Lloyd’s
25th June 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has underlined the importance of innovation in a rapidly evolving risk transfer landscape, underpinned by a global shift to intangible assets and a growing insurance gap. Global commercial insurance penetration sits at below 1%, and with Lloyd's estimating a global insurance gap ... Read the full article
New strategy will “revolutionise” Lloyd’s, says Carnegie-Brown
24th June 2019
The ideas comprising the new future at Lloyd’s strategy are set to “revolutionise” the way the insurance and reinsurance marketplace operate and serves customers, according to Lloyd’s of London Chairman Bruce Carnegie-Brown. Speaking at the Lloyd’s New York City Dinner this last week, Carnegie Brown told re/insurance industry executives how the ... Read the full article
MPS, Everest & Asta to form Lloyd’s medical malpractice partnership
21st June 2019
The Medical Protection Society (MPS), an organisation that protects the careers, reputations and financial security of over 300,000 healthcare professionals, is partnering with global insurer Everest Insurance and Asta, the leading Lloyd’s third-party managing agency, to establish a Lloyd’s Special Purpose Arrangement (SPA). MPS says the move, set for a July ... Read the full article
Lloyd’s forms Global & London advisory committees to support new strategy
20th June 2019
Lloyd's of London has established Global and London advisory committees to help it deliver its new strategy for the future. The committees' members are comprised of insurance and reinsurance industry experts and veterans. The prominent industry figures have joined the committees to help the specialist insurance and reinsurance marketplace develop and ... Read the full article
Lloyd’s in talks with Chubb & AIG as it looks to boost U.S growth
20th June 2019
Insurance and reinsurance market Lloyd's of London is conducting talks with major insurer insurers such as Chubb and AIG as it looks to further boost its growth in the U.S, according to reports Reuters. CEO John Neal told the publication that Lloyd’s was discussing potential opportunities for the insurers to sell ... Read the full article
AI will help automate bespoke policies: Lloyd’s Trevor Maynard
17th June 2019
Artificial intelligence (AI) will create some “interesting possibilities” in terms of automating how the insurance market delivers bespoke products, according to Trevor Maynard, Head of Innovation at Lloyd’s. Speaking at the MMC Rising Professionals’ Global Forum in London last week, Maynard addressed the “wave of technology” currently sweeping across the market, ... Read the full article
S&P turns stable on Lloyd’s due to underwriting improvements
14th June 2019
S&P Global Ratings has revised the outlook on its ratings for Lloyd’s of London from negative to stable, citing improved underwriting performance driven by the efforts of the new leadership team. The revision applies to Lloyd’s, the Society of Lloyd’s, and its core subsidiaries, and S&P has also affirmed its issuer ... Read the full article
Risk modeller Kovrr adds Lloyd’s of London’s David Clouston to Advisory Board
4th June 2019
Israel-headquartered cyber risk modeller Kovrr has added David Clouston to its Advisory Board. Clouston previously served as interim Head of Catastrophe Risk at Lloyd’s of London and currently advises multiple global firms on exposure management processes and cyber strategy. His previous roles have included underwriter, broker, reinsurance buyer, IT systems, and run-off ... Read the full article
Hiscox launches London market cyber product
30th May 2019
Global re/insurer Hiscox has announced the launch of CyberClear365, a new London Market cyber product. CyberClear365’s cover includes first-party incident costs such as regulatory response, bricking for disabled electronic devices and a reward fund. In the event of a claim, CyberClear365 offers assured mitigation coverage and a percentage excess discount if Hiscox ... Read the full article
AIG’s Talbot restructures with closure of Australia & Lloyd’s China units
30th May 2019
AIG-owned reinsurer, Talbot Underwriting is to close its office in Australia and also its Lloyd's China unit and will now service its renewals through its Singapore and London branches. Talbot has said that it is to combine its regional underwriting capabilities into a single hub domiciled in Singapore, which it states ... Read the full article
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