Reinsurance 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.
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
21st May 2019
Lloyd’s Chairman Bruce Carnegie-Brown has said that two or three cases of serious misconduct in the insurance and reinsurance marketplace could emerge by next week, according to reports from City A.M. Speaking to the publication at the City Week conference in London, Carnegie Brown revealed that there were “two or three ... Read the full article
15th May 2019
The Lloyd’s Market Association (LMA), an organisation set up to represent the interests of the Lloyd's community, has announced the results of its recent Board election process. Effective from the Annual General Meeting (AGM) on May 22, the members will include Paul Culham, Group Chief Underwriting Officer, Tokio Marine Kiln; Adrian ... Read the full article
14th May 2019
Lloyd’s of London, the insurance and reinsurance marketplace, is planning to implement a faster approval process for syndicates’ 2020 business plan and capital submissions. In a recent market bulletin, Director of Performance Management Jon Hancock explained that Lloyd’s will commit to approving plans in four weeks by introducing a phased approach ... Read the full article
14th May 2019
Lloyd’s of London, the insurance and reinsurance marketplace, has commissioned the Banking Standards Board (BSB) to conduct an independent, market-wide culture survey on its behalf. The annual survey, which Lloyds claims is the largest ever conducted by the re/insurance sector, is intended to provide insight into standards of behaviour and conduct, ... Read the full article
13th May 2019
First quarter data released by the Board of Placing Platform Limited (PPL) shows increased adoption levels across Lloyd’s syndicates, whereas uptake among International Underwriting Association (IUA) companies fell behind the strong numbers put up in the previous quarter. Data shows that Lloyd’s syndicates, led in the rankings by Liberty Managing ... Read the full article
13th May 2019
A&P Worldwide Solutions Limited, a reinsurance broker based in London, has announced that it has been granted the status of a Lloyd’s broker. Registering with Lloyd’s will allow A&P to expand its operations while continuing to provide its current levels of service, the broker explained. "We are delighted to achieve Lloyd's broker ... Read the full article
13th May 2019
Insurance and reinsurance marketplace Lloyd’s of London has detailed a proposal to merge its Franchise Board into the Lloyd’s Council as part of its ongoing drive for increased efficiency. Lloyd’s explained that the operation of both bodies leads to duplication and occasional questions around which body should undertake specific activities. Governance reports ... Read the full article
10th May 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has warned that failure to meet its expectations regarding harassment, bullying, discrimination or misconduct related to alcohol or drugs, could result in deregistration from the marketplace. As Lloyd's continue to modernise, it recently published a bulletin introducing an updated set of rules applicable ... Read the full article
9th May 2019
The modernisation reforms proposed by insurance and reinsurance market Lloyd’s of London are credit positive, according to analysts at Moody’s, but will be subject to a high degree of execution risk due to the substantial investments and cultural changes required. The plans, which aim to reduce the cost of doing business ... Read the full article
1st May 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has announced a new strategy focused on delivering higher quality risk protection for the market's clients. Lloyd's describes its new strategy as bold, and explains that it includes several transformational initiatives that have the potential to shape the future of the global ... Read the full article
29th April 2019
Specialty Lloyd’s re/insurer Beazley has announced a partnership with Tokio Marine Kiln and RenaissanceRe that aims to provide unique and flexible solutions for reputation risk. Custodian Consortium is designed to protect clients throughout the lifespan of a crisis by providing crisis management expertise and substantial loss-of-profits cover, to protect companies after ... Read the full article
18th April 2019
Munich Re Syndicate Singapore, the Asia-Pacific arm of Munich Re's Lloyd’s syndicate, has announced a partnership with Singapore-based coverholder Nectar Specialty Risk (Nectar), a move that strengthens its ties in the region. Nectar offers professional lines products via a Nectar Pro, a Financial Lines business unit focused on emerging Asian markets ... Read the full article
18th April 2019
The intervention of the Lloyd’s Performance Management Directorate is expected to support better underwriting results for marine energy classes throughout 2019, according to analysts at Lloyd & Partners. The firm noted in its April 2019 quarterly energy newsletter that the performance review was not a one off event, with all syndicates ... Read the full article
10th April 2019
The Lloyd’s of London marketplace has published a bulletin introducing an updated set of rules applicable to passholders accessing the building. Most notably, the bulletin states that a passholder must not enter (or attempt to enter) the premises during working hours under the influence of alcohol or any illegal drug. If a ... Read the full article
