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.
22nd May 2020
The Lloyd's of London managing agency platform of in run-off Neon Underwriting, part of American Financial Group, Inc., is up for sale in a process being run by broker TigerRisk Partners, we understand. AFG had announced that it was to exit the Lloyd’s marketplace at the beginning of this year, ... Read the full article
19th May 2020
Analysts at managing agency Argenta Group have argued that Lloyd’s has been conservative in its estimates of the insurance losses it will face due to the COVID-19 pandemic. The insurance and reinsurance marketplace previously said that it will pay customers between $3 billion and $4.3 billion in claims, out of ... Read the full article
15th May 2020
The reinsured proportion of Lloyd's of London's estimated $3 billion to $4.3 billion of COVID-19 losses could be lower than for historical hurricanes, according to analysis by Jefferies. The specialist insurance and reinsurance marketplace said yesterday that in 2020 alone, non-life underwriting losses for insurers and reinsurers as a result ... Read the full article
14th May 2020
Antares, the Lloyd’s platform of QIC Global, has appointed Martin Campbell head of specialty at Syndicate 1274. Campbell reports to Alexander Craggs, Active Underwriter at Antares, and succeeds John Taylor, who is stepping down from the role and will be leaving the business. He brings over 30 years’ experience in the insurance ... Read the full article
14th May 2020
The specialist Lloyd's of London insurance and reinsurance marketplace is considering the creation of a new insurance vehicle called 'Recover Re', designed to provide "after the event" cover for pandemic related business recovery, including the ongoing Covid-19 crisis. Lloyd's recently announced that it will pay customers up to $4.3 billion ... Read the full article
14th May 2020
The Lloyd's insurance and reinsurance marketplace says that it will pay customers between $3 billion and $4.3 billion in claims due to Covid-19, but the industry was a whole is forecast to suffer $107 billion of losses in 2020 alone. The industry loss forecast or estimate from Lloyd's of London is ... Read the full article
13th May 2020
EC3 Brokers, the Lloyd's-headquartered commercial lines broker, has announced the launch of its specialty division and appointed Jonathon Lane as its head. Lane is joined by Dominic Toogood and Gary Moore, with all three reporting to James Murphy, head of broking at EC3 Brokers. Lane began his career in insurance in 2003 ... Read the full article
13th May 2020
Specialty insurer and reinsurer Brit has collaborated with Google Cloud to launch Ki, a fully digital and algorithmically-driven Lloyd's of London syndicate designed to redefine the commercial insurance market as a 'follow-only' syndicate. The new standalone business is expected to launch in 2021, and the pair state that its creation marks ... Read the full article
13th May 2020
Lloyd’s managing agency AEGIS London has added Katie Wade as Chief Financial Officer and announced the appointment of Rhic Webb to the newly created role of General Counsel and Company Secretary later this year. Both will report to Managing Director David Croom-Johnson. Wade was most recently Group CFO with insurer ERS. Having ... Read the full article
12th May 2020
Arch Underwriting at Lloyd's Syndicate 2012 has helped provide a $100 million direct insurance policy to Crypto.com, a cryptocurrency finance platform formed in 2016. This is the largest coverage that Crypto.com has secured for its cold storage assets on custodial partner Ledger Vault. The new policy brings Crypto.com's total cryptocurrency insurance to ... Read the full article
11th May 2020
Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, has announced that it has provided capital support for Lloyd’s newly launched Syndicate 2019. The investment manager, which conducts its insurance and reinsurance business as HSCM Bermuda, says the move represents an opportunity to access the ... Read the full article
6th May 2020
Bermudian reinsurer RenaissanceRe has appointed Ed Cruttenden active underwriter of its Syndicate 1458 at Lloyd’s. Bryan Dalton, the previous active underwriter for Syndicate 1458, will assume responsibility for underwriting across the company’s European platform as Chief Underwriting Officer – Europe. In addition to managing business written at the Syndicate, Cruttenden will also ... Read the full article
6th May 2020
Insurance and reinsurance marketplace Lloyd’s of London has laid out its process for agreeing 2021 business plans and capital requirements, which it says now reflect the challenges posed by COVID-19. The approval process for business plans will involve a three-tiered approach, following on from the pilot of Lloyd’s ‘Light Touch’ approach ... Read the full article
4th May 2020
American International Group, Inc.'s (AIG) previously announced Lloyd's Syndicate 2019 has received approval to commence underwriting. Described by the insurer and reinsurer as a landmark Syndicate, AIG's Syndicate 2019 is the largest ever to be launched through the specialist Lloyd's of London re/insurance marketplace. The Syndicate will exclusively reinsure risks from ... Read the full article
4th May 2020
Insurance and reinsurance brokerage TigerRisk Partners has appointed Lawrence Po-Ba to focus on capital solutions for Lloyd‘s Syndicates. Po-Ba was previously Head of Lloyd’s Specialty Lines and a Partner at Securis Investment Partners LLP. Before that, he was the Lloyd’s Client Manager for SCOR, managing their corporate member at Lloyd’s, as well ... Read the full article
