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.
Brexit white paper draws criticism from Lloyd’s CEO
13th July 2018
Lloyd's of London’s outgoing Chief Executive Officer (CEO), Inga Beale, has responded to the exit strategy laid out in the Brexit white paper with claims that professional and financial services “are not catered for” and that the proposed deal will accelerate its plans for a Brussels subsidiary. In an interview ... Read the full article
Lloyd’s market needs ‘radical change’, says LMA head Gittings
13th July 2018
David Gittings, Chief Executive of the Lloyd’s Market Association (LMA), has called for a “thorough review” of how the re/insurance market at Lloyd’s operates, according to the Financial Times (FT). Gittings told the publication: “I don’t believe Lloyd’s is facing an existential crisis but it needs a thorough review of what ... Read the full article
Lloyd’s reveals new digital distribution platform
11th July 2018
The specialist Lloyd’s of London insurance and reinsurance marketplace has launched a new digital distribution platform, called Lloyd’s Bridge, which is designed to more efficiently connect insurance businesses and entrepreneurs with underwriters from the Lloyd’s market. By matching insurers and underwriters, the online Lloyd’s Bridge platform will enable businesses to underwrite ... Read the full article
Concirrus updates AI powered Quest Marine software
6th July 2018
InsurTech company Concirrus has released an updated version of its artificial intelligence (AI) powered data analysis software, Quest Marine 2.0, to enable Lloyd’s marine syndicates to remediate their portfolios. Quest Marine is designed to allows re/insurers and brokers to analyse their entire historical portfolio in seconds, using machine learning algorithms that ... Read the full article
AFL acquires majority stake in UK employer protection MGA
3rd July 2018
AFL Insurance Brokers Ltd, the independent Lloyd’s broker, has acquired a controlling stake in specialist employer protection Managing General Agency (MGA) Concordia Employment Services Limited, for an undisclosed sum. Based in London, Concordia has been supporting UK employers by managing risks and exposures related to workplace disputes since its launch in ... Read the full article
Inga Beale to depart Lloyd’s in 2019
29th June 2018
Inga Beale, the Chief Executive Officer (CEO) of the specialist Lloyd's of London insurance and reinsurance marketplace, is to step down from her position in 2019. Beale joined Lloyd's in 2014, and during the last five years showed a commitment to the transformation of the marketplace, which includes significant cultural change ... Read the full article
Lloyd’s looking to ‘redefine’ tech use with new innovation lab partners
18th June 2018
Inga Beale, Chief Executive Officer (CEO) at Lloyd’s, has said that the company is looking to redefine the way it uses technology as it begins the process of searching for entrepreneurial start-ups to partner with its Innovation Lab, due to be launched later in 2018. Lloyd’s recently announced that it ... Read the full article
Lloyd’s coverholder status secured by Millstream Underwriting
24th May 2018
Managing General Agent Nexus Group member Millstream Underwriting has this week announced its approval as a Lloyd’s Coverholder. The move provides London-based Millstream with a greater capacity to underwrite business at Lloyd's. Development Manager of Millstream, Mark Copsey, said, “We’re delighted to announce that Lloyd’s has approved Millstream Underwriting as a Coverholder, ... Read the full article
Lloyd’s very well positioned in Asia-Pacific, excited about opportunity: Chaplin, Lloyd’s
23rd May 2018
The specialist Lloyd's of London insurance and reinsurance marketplace is well positioned in Asia-Pacific and is focused on building on its solid foundation in the region, which now accounts for 11.5% of the market's global income, according to Kent Chaplin, Chief Executive Officer (CEO) of Asia-Pacific, Lloyd's. Speaking with A.M. BestTV ... Read the full article
Tokio Marine Kiln’s syndicate losses continue at latest forecast
17th May 2018
Tokio Marine Kiln (TMK) has released the results for its three non-aligned Lloyd’s of London Syndicates and updated its 2017 year of account forecasts, revealing that losses are expected to continue in response to the costly catastrophe events experienced in late 2017. TMK’s Syndicates 510 and 557 both showed slight improvements ... Read the full article
Mobile technology driving re/insurance penetration in Africa, says Lloyd’s Inga Beale
15th May 2018
Inga Beale, Chief Executive Officer (CEO) of Lloyd’s of London, has suggested that mobile technology is key to both supporting economic growth and driving re/insurance penetration across Africa. Although Africa has generally been late in its transition from analogue to digital technologies, the continent has essentially leapfrogged computers and landlines and ... Read the full article
Poor 2017 results suggest Lloyd’s syndicates under strain: RBC
14th May 2018
RBC Capital Markets has reported that Lloyd's syndicates are under considerable strain, having posted aggregate combined ratios of 114% in 2017, with the worst return on capital since 2001. RBC analysed 95 Lloyd's syndicate reports from 2017, finding that just 16% of syndicates by number, or 9% of syndicates by premium, ... Read the full article
Lloyd’s underwriters to terminate NRA insurance programmes
9th May 2018
The specialist Lloyd's of London insurance and reinsurance marketplace has announced that after careful consideration it has directed underwriters in the market to terminate any existing insurance programmes with the National Rifle Association of America (NRA). Lloyd's Corporation has told underwriters across the marketplace to terminate all insurance offered, marketed, endorsed, ... Read the full article
John Parry to depart Lloyd’s in 2019
1st May 2018
Lloyd's of London has announced today that the re/insurance market's Chief Financial Officer John Parry is set to leave the Corporation, after 17 years. Parry became Chief Financial Officer of Lloyd's in December 2014 and sits on both the Lloyd’s Board and Executive Committee. As CFO, he has been responsible for financial ... Read the full article
Lloyd’s to launch online platform for coverholder matching
26th April 2018
The specialist Lloyd's of London insurance and reinsurance marketplace is to launch a new online portal designed to match new binder, or coverholder business with Lloyd’s underwriters in a fast and simple manner. A pilot of the new digital coverholder matching portal will be launched in July 2018 in the UK, Australia ... Read the full article
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