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.
Ed reports 67% PPL usage between August, November 2018
23rd January 2019
Ed Broking, the global reinsurance, wholesale and specialty insurance broker, claims it placed 67% of orders through the London Market’s Placing Platform Limited (PPL) between August and November 2018, with the company’s Group Head of Broking calling on all brokers to reveal their rate of usage. The PPL has been pushed ... Read the full article
Waypoint approved as A&H coverholder for ArgoGlobal at Lloyd’s
23rd January 2019
Specialty managing general underwriter (MGU) Waypoint Underwriting Management has obtained coverholder approval to underwrite accident and health (A&H) products on behalf of ArgoGlobal Syndicate 1200 at Lloyd’s. Waypoint offers insurance and reinsurance solutions to clients in the U.S, led by an executive team that has started, owned and run multiple reinsurance ... Read the full article
Lloyd’s introduces risk-based oversight for syndicates
18th January 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has announced that it intends to introduce risk-based oversight for underperforming syndicates as part of its ongoing performance review. The process will support the implementation of syndicates’ performance improvement plans, which are designed to return certain classes or syndicates to sustainable profit ... Read the full article
Lloyd’s faces pressure to focus on U.S business
14th January 2019
Andrew Brooks, incoming Chair of the Lloyd’s Market Association (LMA), has urged Lloyd's of London to refocus its growth strategy away from emerging markets and towards the U.S, according to reports from the Financial Times. Lloyd’s has concentrated on winning new business over the past few years by opening offices in ... Read the full article
New York regulators fine Lloyd’s insurers $5m for NRA dealings
28th December 2018
Ten insurers that did business with the National Rifle Association (NRA) through the Lloyd’s of London marketplace have been fined a total of $5 million by New York regulators. The fines are related to NRA self-defense insurance programs and have been deemed in violation of state law. Initially, an investigation by New ... Read the full article
Iain Ferguson takes up regional director role for Lloyd’s in Asia Pacific
21st December 2018
The President and Chief Operating Officer for Lloyd’s Japan, Iain Ferguson, is to take on additional responsibilities as Regional Director across the Asia Pacific (APAC) region. Having first joined Lloyd’s in 2007, Ferguson has more than 20 years’ experience working in Japan and across Asia. Lloyd's says its’ organisational structure in Asia ... Read the full article
At least 40% of risks must be placed electronically at Lloyd’s for Q1 2019
20th December 2018
The specialist Lloyd's of London insurance and reinsurance marketplace has revealed that for the first-quarter of 2019, each syndicate will be required to have written at least 40% of its risks using a recognised electronic placement system. The target figure is set to increase to 50% for the second-quarter of 2019, ... Read the full article
Sonja Rottiers to replace Vandendael as Lloyd’s Brussels CEO
20th December 2018
It has been announced that Lloyd’s post-Brexit European base in Brussels will be lead by Sonja Rottiers as Chief Executive Officer. This appointment follows the recent departure of Lloyd's Brussels' previous CEO Vincent Vandendael, who played a key role in its' successful establishment. Rottiers will also serve as Lloyd’s Regional ... Read the full article
Lloyd’s adds Albert Benchimol, Victoria Carter to Council
18th December 2018
The Lloyd's Council has announced the addition of Albert Benchimol and Victoria Carter as an External member and Working member, respectively, effective from 1 February 2019. Meanwhile, Michael Watson, currently on the council, has been re-elected as an External member. Benchimol is currently President and Chief Executive Officer of AXIS Capital Holdings Limited, ... Read the full article
Lloyd’s turns to IoT for marine cargo performance improvement
17th December 2018
Lloyd’s has joined six lead market syndicates - AXA, QBE, CNA, Ascot, Antaras and Beazely - on a new initiative to begin using Parsyl, a venture-backed supply chain data platform that utilises Internet of Things (IoT) technology. The new initiative is designed for products that require specialist transport and storage, such ... Read the full article
Lloyd’s must adapt and innovate to remain relevant in the future: Carnegie-Brown
6th December 2018
The Chairman of the Lloyd's of London specialist insurance and reinsurance marketplace, Bruce Carnegie-Brown, has called on the marketplace to innovate in order to improve relevance to customers in the rapidly evolving risk transfer space. Delivering a key note speech at the Lloyd's building yesterday on Lime Street, London, Carnegie-Brown said ... Read the full article
LMG urges progress on post-Brexit equivalence for insurers, brokers
6th December 2018
The London Market Group has underscored changes it believes must be made to the European Union equivalence regime ahead of “one of the most critical decisions in a generation” taking place in the House of Commons. MPs are due to vote on the Government’s Withdrawal Agreement and the Political Declaration on ... Read the full article
Lloyd’s Lab commences new global search for InsurTech talent
4th December 2018
Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market in September, has commenced a new global search for its latest cohort of InsurTech talent. The program is hoping to attract entrepreneurs and start-ups that are capable of developing technology driven products, platforms and processes to help overcome the challenges ... Read the full article
Risk Cooperative reshuffles executive team
29th November 2018
Risk Cooperative, a risk and insurance advisory firm and coverholder at Lloyd’s, has announced a series of key executive appointments and governance changes as it looks to accelerate growth. Andres Franzetti, one of Risk Cooperative’s co-founders and former Head of Strategy, has been named as President and Chief Operating Officer with ... Read the full article
Lloyd’s Market Association launches new claims expert platform
29th November 2018
The Lloyd’s Market Association (LMA) has launched its new claims expert management solution and platform for Lloyd’s carriers this week, called Gemini. The platform was developed by the LMA in partnership with Advent Insurance Management Limited, and will be driven by claims professionals from the Lloyd’s market. Gemini will offer Lloyd’s carriers ... Read the full article
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