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.

CEA to put Lloyd’s syndicates on level playing field for reinsurance renewals

13th March 2017

The California Earthquake Authority (CEA), the main earthquake insurance provider in the State of California, is set to put Lloyd's of London syndicates on a level playing field for its future reinsurance renewals. The CEA has a strict set of guidelines for acquiring risk transfer and reinsurance, which see different providers ... Read the full article

Munich Re Syndicate CUO, Hoare elected to the Council of Lloyd’s

9th March 2017

Dominick Hoare, the Chief Underwriting Officer (CUO) for the Munich Re Syndicate Ltd, has been elected unopposed as Corporate-External member to the Council of Lloyd's, effective April 19th, 2017. Representing Munich Re Capital Limited, Hoare will take up the seat until 31st January 2020. The seat was previously held by Catlin Syndicate ... Read the full article

Lloyd’s syndicates eager to expand presence in India

7th March 2017

Lloyd's of London syndicates are looking to expand their presence in India and are keen to increase their participation in regional reinsurance business, after Lloyd's confirmed that it will establish a reinsurance branch in the country prior to the April renewal season, according to Vineet Aneja of Clasis Law. "The establishment ... Read the full article

Lloyd’s urges re/insurance industry to protect assets from “stranding”

28th February 2017

Lloyd’s has advised the re/insurance industry to take a proactive approach to assess and protect against dangers of global asset-stranding and liabilities, as climate change-related regulation and taxation policies pose a growing threat to the security of portfolio investments. Lloyd’s partnered with the University of Oxford Smith School of Enterprise and ... Read the full article

Poor year forecast for Lloyd’s of London underwriters

24th February 2017

As results for the last fiscal year roll in RBC Capital Markets equity analysts project a further year of dragging results for Lloyd's underwriting, after 2016 reports have continued to show declines in what's been a year on year deterioration. “The Lloyd's market posted a 98% combined ratio at 1H16, and ... Read the full article

Lloyd’s “absolutely committed” to Latin America: Inga Beale

23rd February 2017

The specialist Lloyd's of London insurance and reinsurance marketplace is "absolutely committed" to Latin America and will continue to expand its presence and capabilities in the region, ultimately helping to increase insurance penetration levels, according to Lloyd's Chief Executive Officer (CEO), Inga Beale. In a keynote speech delivered at Lloyd's of London's ... Read the full article

Modernisation, Brexit are top priorities for Lloyd’s Market Association (LMA)

21st February 2017

Modernisation of the Lloyd's and London insurance and reinsurance market, as well as the impact of Brexit on the market are considered top priority for 2017 at the Lloyd's Market Association (LMA). Speaking to chief executives from the Lloyd’s of London managing agency community, LMA CEO David Gittings said that as ... Read the full article

Bruce Carnegie-Brown to replace Nelson as Chairman of Lloyd’s

20th February 2017

The specialist Lloyd's of London insurance and reinsurance marketplace has announced that Bruce Carnegie-Brown is to replace John Nelson as its new Chairman, effective June 2017. Following a meeting of the Council of Lloyd's Carnegie-Brown's appointment was approved unanimously, and subject to approval and consent from the Prudential Regulation Authority (PRA) and the Financial ... Read the full article

Trump / Brexit uncertainty could sell political risk cover, says Lloyd’s Beale

15th February 2017

Uncertainty in financial markets and in the international business world as a result of Donald Trump's presidency and Brexit could lead to an increased demand for political risk insurance cover, something Lloyd's of London's Inga Beale highlights as a potential opportunity. As reported by Bloomberg here, Beale spoke in ... Read the full article

Lloyd’s insurers to experience a positive 2017: RBC

3rd February 2017

RBC Capital Markets analysts have forecasted a positive and profitable coming year for Lloyd’s of London players, despite market conditions worsening in 2016. The analysts examined the key full-year 2016 issues facing Lloyd’s re/insurers, and said that firms will utilise reinsurance capacity to limit their net exposure and grow their gross written ... Read the full article

Lloyd’s £300m debt issuance significantly oversubscribed

2nd February 2017

The specialist Lloyd's of London insurance and reinsurance marketplace recently announced a £300 million capital raise, a 30-year Non-Call 10 subordinated bond that attracted more than £2 billion of orders. The bond was announced on 24th January 2017 with final pricing at UK Government 10-year Gilts plus 330 basis points, and ... Read the full article

Lloyd’s Market Association appoints new property panel chairman

30th January 2017

Lloyd’s has announced the appointment of Nick Jones as Chairman of Lloyd’s Market Association’s (LMA) Worldwide Property Panel - a leadership platform for issues pertaining to Lloyd’s managing agents and syndicates. Jones, who is currently Active Underwriter at Apollo Syndicate Management Limited, is set to replace outgoing Chair Mark Bodkin. Other new ... Read the full article

Lancashire appoints Andrew McKee CEO of Cathedral Underwriting

27th January 2017

Lancashire Holdings, the Bermuda and London specialty insurance and reinsurance company has, announced the appointment of Andrew McKee (previously CEO of MS Amlin at Lloyd's) as the new CEO of its Cathedral Underwriting business at Lloyd's of London. With effect from 26th June 2017, and subject to regulatory approvals and Lloyd's ... Read the full article

Lloyd’s welcomes EU/U.S. reinsurance deal

26th January 2017

Lloyd’s Chairman John Nelson welcomed the agreement reached by the European Union and the United States on insurance and reinsurance, saying he believed it would greatly benefit the global re/insurance industry. The deal is expected to make the market easier for EU and U.S. industry players to navigate by removing ... Read the full article

Lloyd’s gets final approval, will launch in India before April reinsurance renewals

19th January 2017

The specialist Lloyd's of London insurance and reinsurance marketplace has received final approval from the Insurance Regulatory Development Authority of India (IRDAI) to establish a regional branch, and the market has said that it will open its new, Indian office in time for the April 2017 reinsurance renewals. After receiving R3 approval ... Read the full article