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 Europe hires Heugues as Chief Underwriting Officer

7th July 2022

Lloyd's has announced the hiring and appointment of former Ageas senior executive as its new Bertrand Heugues as Chief Underwriting Officer (CUO) for the Lloyd's Europe branch. Headquartered in Brussels, the Lloyd's Europe branch was originally established so the market could continue to operate effectively in Europe after Brexit, providing continuity ... Read the full article

MIC Global gets Lloyd’s approval

23rd June 2022

MIC Global has received approval for Lloyd's Syndicate 5183 to commence underwriting, effective immediately. According to the firm, Syndicate 5183 will be managed by Asta through Lloyd's syndicate in a box (SIAB) platform. It said that it further cemented MIC Global as an international leader in providing embedded insurance solutions to ... Read the full article

Lloyds’ broker Servca drives EU expansion with opening of Malta office

16th June 2022

Independent international Lloyds of London broker, that specialises in non-standard medical, financial and professional lines insurance – Servca, has announced the opening of an office in Malta to help drive the expansion of its European business. By having passporting rights to all 28 countries within the EU, complete with Lloyd’s Brussels ... Read the full article

Lloyd’s upswing set to continue strongly: Helios

14th June 2022

Helios Underwriting has reported global insurance rate increases of over 50% since 2017 and a more than 30% increase in Lloyd’s of London (Lloyd’s) premiums, which it says have set the stage for a sustained improvement in underwriting results. A FY21 results update by the Lloyd’s of London investment and underwriting ... Read the full article

NFP’s Financial Institutions Group selects TigerRisk to develop line slip for Lloyd’s

24th May 2022

Leading property and casualty (P&C) broker, NFP has announced its Financial Institutions Group (FIG) has selected broker and risk capital advisory TigerRisk Partners LLC to develop a line slip to transact business with Lloyd’s of London. The line slip will enable global insurers, US regional and mutual insurance companies, managing general ... Read the full article

Lloyd’s Russia exposure estimate due by late May: Carnegie-Brown

28th April 2022

Bruce Carnegie-Brown, Chairman of Lloyd’s of London, has said that the insurance and reinsurance marketplace is expected to have “a number” for its exposure to the Russia-Ukraine conflict “by the end of May.” Speaking in a recent interview with Bloomberg, Carnegie Brown explained that the impact of the conflict and its ... Read the full article

Lloyd’s syndicate launches green incentive initiative

25th April 2022

Syndicate 2525, the specialist third party and employers’ liability insurer at Lloyd’s, is offering its panel adjusters a ‘fee bonus’ when a site visit is undertaken in an entirely electric vehicle. The bonus, which is a flat amount, boosts the on-site investigation fee by more than 25% for lower value, higher ... Read the full article

Regulators waive Lloyd’s collateral requirements for US reinsurance

21st April 2022

From October 2022, no Lloyd’s underwriters writing US contracts will be required to provide collateral for their US reinsurance obligations. The change is the result of new rules that come into effect later this year, which will eliminate collateral requirements for financially strong non-US reinsurers writing US reinsurance, following approval as ... Read the full article

Aspen joins commitment to cut ties with the Tar Sands Pipeline

21st April 2022

Trans Mountain insurer and Lloyd’s syndicate Aspen Insurance is to cut ties with the existing Trans Mountain tar sands pipeline when its current insurance policy expires this summer. Aspen joins sixteen other insurance companies that have dropped Trans Mountain or vowed not to insure the Trans Mountain Expansion Project. The commitment from ... Read the full article

Lloyd’s building closed after climate activist protest

12th April 2022

The Lloyd's building at Lime Street in London has been closed this morning, after protesters from climate activist group Extinction Rebellion blockaded entrances. "We are currently unable to enter the Lloyd's building due to protesters outside," Lloyd's said in a statement released at 9.15am this morning. "In the interests of your safety, ... Read the full article

Mosaic adds Lloyd’s carrier Apollo to boost syndicated global capacity

5th April 2022

Mosaic Insurance has added Lloyd’s carrier Apollo to its consortia of industry partners, boosting the amount of syndicated capacity it can deploy for high-demand transactional liability coverage worldwide. The new partnership will support Mosaic’s hybrid syndicated capital program, in which Mosaic Syndicate 1609 commits capital alongside that of trade partners seeking ... Read the full article

Cenata and IQUW partner on reinsurance management solution

5th April 2022

Insurtech software provider Cenata has partnered with Property, Commercial and Specialty re/insurer, IQUW, enabling the Lloyd’s syndicate to use Cenata’s outwards reinsurance management solution, Cenata SURE, a full cycle outwards reinsurance management solution. The partnership will provide IQUW with the capability to process real-time premium and claims data from multiple inwards ... Read the full article

Insurance industry’s financial clout key to fighting climate change: Lloyd’s CEO Neal

4th April 2022

Lloyd’s CEO John Neal has said climate change is the ‘single biggest opportunity’ he has seen in his career. Speaking on the Lloyd’s 2021 earnings call, Neal said that he saw climate change not as a threat, but as an opportunity for the industry ‘to stand up and be counted’. Neal said ... Read the full article

Market may not understand Ukraine loss this year: Lloyd’s CEO Neal

30th March 2022

John Neal, Chief Executive Officer at specialist re/insurance marketplace Lloyd’s of London, has warned that the market is a long way out from understanding its full exposure to Russia’s invasion of Ukraine. During a call prior to his hospitalisation following a car accident over the weekend, Neal warned that half-year reports ... Read the full article

Lloyd’s & Schroders partner on market investment platform

29th March 2022

Specialist insurance and reinsurance marketplace Lloyd’s of London has appointed Schroders Solutions as the investment partner of its new investment platform. The open-architecture firm manages £150 billion of global assets for insurance companies and has long-standing partnerships within the Lloyd’s market. The new platform will consist of a series of select funds ... Read the full article