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.
Bruce Carnegie-Brown to replace Nelson as Chairman of Lloyd’s
20th February 2017
The specialist Lloyd's of London insurance and reinsurance marketplace has announced that Bruce Carnegie-Brown is to replace John Nelson as its new Chairman, effective June 2017. Following a meeting of the Council of Lloyd's Carnegie-Brown's appointment was approved unanimously, and subject to approval and consent from the Prudential Regulation Authority (PRA) and the Financial ... Read the full article
Trump / Brexit uncertainty could sell political risk cover, says Lloyd’s Beale
15th February 2017
Uncertainty in financial markets and in the international business world as a result of Donald Trump's presidency and Brexit could lead to an increased demand for political risk insurance cover, something Lloyd's of London's Inga Beale highlights as a potential opportunity. As reported by Bloomberg here, Beale spoke in ... Read the full article
Lloyd’s insurers to experience a positive 2017: RBC
3rd February 2017
RBC Capital Markets analysts have forecasted a positive and profitable coming year for Lloyd’s of London players, despite market conditions worsening in 2016. The analysts examined the key full-year 2016 issues facing Lloyd’s re/insurers, and said that firms will utilise reinsurance capacity to limit their net exposure and grow their gross written ... Read the full article
Lloyd’s £300m debt issuance significantly oversubscribed
2nd February 2017
The specialist Lloyd's of London insurance and reinsurance marketplace recently announced a £300 million capital raise, a 30-year Non-Call 10 subordinated bond that attracted more than £2 billion of orders. The bond was announced on 24th January 2017 with final pricing at UK Government 10-year Gilts plus 330 basis points, and ... Read the full article
Lloyd’s Market Association appoints new property panel chairman
30th January 2017
Lloyd’s has announced the appointment of Nick Jones as Chairman of Lloyd’s Market Association’s (LMA) Worldwide Property Panel - a leadership platform for issues pertaining to Lloyd’s managing agents and syndicates. Jones, who is currently Active Underwriter at Apollo Syndicate Management Limited, is set to replace outgoing Chair Mark Bodkin. Other new ... Read the full article
Lancashire appoints Andrew McKee CEO of Cathedral Underwriting
27th January 2017
Lancashire Holdings, the Bermuda and London specialty insurance and reinsurance company has, announced the appointment of Andrew McKee (previously CEO of MS Amlin at Lloyd's) as the new CEO of its Cathedral Underwriting business at Lloyd's of London. With effect from 26th June 2017, and subject to regulatory approvals and Lloyd's ... Read the full article
Lloyd’s welcomes EU/U.S. reinsurance deal
26th January 2017
Lloyd’s Chairman John Nelson welcomed the agreement reached by the European Union and the United States on insurance and reinsurance, saying he believed it would greatly benefit the global re/insurance industry. The deal is expected to make the market easier for EU and U.S. industry players to navigate by removing ... Read the full article
Lloyd’s gets final approval, will launch in India before April reinsurance renewals
19th January 2017
The specialist Lloyd's of London insurance and reinsurance marketplace has received final approval from the Insurance Regulatory Development Authority of India (IRDAI) to establish a regional branch, and the market has said that it will open its new, Indian office in time for the April 2017 reinsurance renewals. After receiving R3 approval ... Read the full article
Lloyd’s cedents make the most of soft reinsurance market: RBC Capital Markets
18th January 2017
As expected, the London insurance and reinsurance marketplace saw rates fall further at the key January 1st 2017 renewals, but cedents were able to take advantage of current soft reinsurance market conditions, resulting in increased reinsurance demand, says RBC Capital Markets. A number of insurance and reinsurance industry observers and analysts ... Read the full article
Lloyd’s to announce location of new EU subsidiary in Q1: John Nelson
18th January 2017
The specialist Lloyd's of London insurance and reinsurance marketplace is set to make an announcement on its new European subsidiary during the first-quarter of this year in response to the UK's vote to leave the EU, according to Lloyd's Chairman, John Nelson. Industry reports earlier this week claimed that the Read the full article
Dublin possible new base for Lloyd’s EU subsidiary
16th January 2017
Lloyd’s of London is seriously considering setting up a subsidiary in Dublin to safeguard its access to European markets, the Irish Times revealed today. The insurer will present a proposal to its members to establish a branch in an EU country next month, and Dublin remains one of the key shortlisted ... Read the full article
“Too early to see a turn in the market,” says RBC
16th January 2017
The RBC Capital Markets analysts concluded after their sixth annual London Market trip meeting that despite pricing declines beginning to slow, 2017 would be too soon to see a turn in the market. Insurers still turned a profit in 2016, but results have begun to deteriorate, RBC reported. Overall prices fell by around ... Read the full article
Lloyd’s market reliant on “declining” reserves: Peel Hunt
12th January 2017
After speaking with the Lloyd's of London marketplace during its Lloyd's Insurers Tour in early January, analysts at Peel Hunt have said that the market is relying on reserve releases for profits, and it might not take much more in the way of rate declines before the market ventures into ... Read the full article
China remains top priority for Lloyd’s re/insurance market growth
9th January 2017
Lloyd’s of London chairman John Nelson told China Daily that China is the most important market for its long-term growth. With dark clouds brewing on the insurance and reinsurance market horizon, in what Nelson describes as a ‘perfect storm’; low interest rates and excessive capital driving down investment returns and premiums ... Read the full article
QBE’s Pryce appointed to Lloyd’s Franchise Board
6th January 2017
Lloyd's revealed today that Richard Pryce, CEO for QBE European Operations, has been appointed as a non-executive director of the Franchise Board, by the Council of Lloyd's. Pryce will serve on the Franchise Board - which is responsible for the day-to-day running of the Lloyd’s market - as a market-connected director ... Read the full article
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