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.

LMG welcomes inquiry into UK’s commercial re/insurance market

18th January 2022

The London Market Group has welcomed The House of Lords Industry and Regulators Committee’s inquiry into the regulation of the London insurance market, which was announced recently. The inquiry is to “explore the extent to which regulatory policy is well-designed and proportionately applied and the possibilities for optimising policy following ... Read the full article

Lloyd’s CFO to take on COO duties

17th January 2022

Lloyd’s CFO Burkhard Keese is lining up to take on COO duties when incumbent Jennifer Rigby departs towards the end of this month. The new structure, under which Keese will maintain both roles, is being put in place to facilitate the delivery of Lloyd’s Blueprint Two programme. That programme is the second ... Read the full article

Lloyd’s announces plans to lower market processing costs by 40%

12th January 2022

The transformation of the specialist Lloyd's insurance and reinsurance marketplace has taken another step forward with an agreement between the market, DXC Technology and the International Underwriting Association (IUA) which aims to cut processing costs by 40%. An agreement between Lloyd’s, DXC Technology, the Boards of the Lloyd's Market Association ... Read the full article

FEMA sees decline in participating Lloyd’s Syndicates at 2022 NFIP reinsurance renewal

10th January 2022

The U.S. Federal Emergency Management Agency's (FEMA) January 2022 flood reinsurance renewal for the National Flood Insurance Program (NFIP) saw a reduction in the number of participating Lloyd's syndicates, which could be a reflection of the heavy catastrophe load. FEMA recently announced the procurement of $1.064 billion of flood reinsurance ... Read the full article

Lloyd’s releases Product Launchpad

7th January 2022

Lloyd’s has released its new Product Launchpad to further the work of the Product Innovation Facility and enable the Lloyd’s market to keep partnering with Insurtech, advancing innovation and developing new insurance solutions. Under the oversight of the Lloyd’s Lab team, potential ideas reaching the Lab through its expanding programme can ... Read the full article

Lloyd’s & London Market see stable conditions at 1/1: Gallagher Re

6th January 2022

Analysts at Gallagher Re have reported that Lloyd’s and the London Market experienced more stable conditions than were seen last year during the January 1, 2022 renewals, despite being generally quite late to market. In its 1st View report on the critical renewal period, Gallagher Re observed “mixed outcomes” for ... Read the full article

Carbon Underwriting places Lloyd’s property consortium with Howden Re

23rd December 2021

Carbon Underwriting Limited (Carbon), the specialist, independent managing general underwriter (MGU) and Lloyd’s syndicate, has placed a new Lloyd’s property consortium with independent reinsurance broker, Howden Re. The placement marks the first Variable Delegated Underwriting Authority consortium as well as the first consortium supporting a Syndicate in a Box. Carbon says the ... Read the full article

Lloyd’s Asia sets up renewable energy consortium

23rd December 2021

Insurance and reinsurance marketplace Lloyd’s has launched a new renewable energy consortium for the APAC region and supporting countries. Developed by the Lloyd’s Asia platform, the consortium pools underwriting expertise and capacity among the participating syndicates for renewable energy risks. The new consortium has been developed by Chaucer, Markel, and Munich Re ... Read the full article

Lloyd’s welcomes Nephila’s Syndicate 2358

21st December 2021

Lloyd’s of London has joined investment manager Nephila Capital in announcing the launch of Syndicate 2358. Nephila's new Syndicate focuses on short to medium term business lines, with capital provided through London Bridge Risk PCC (LBR PCC). The new transaction provides reinsurance capital from a varied group of investors, ... Read the full article

Nephila to launch new ILS investor-backed Lloyd’s syndicate

21st December 2021

Nephila Capital, the world’s largest insurance-linked securities (ILS) investment manager, has announced plans for its Lloyd’s specialty syndicate 2358, as the firm looks to provide investors with greater access to the wider specialty insurance market. Set to commence trading in the new year, syndicate 2358 will focus on short to medium ... Read the full article

Helios issues new shares to fund Exalt acquisition

20th December 2021

Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired the entire issued capital of Exalt Underwriting for £409,550, in line with its strategy of increasing underwriting capacity through acquisitions. £241,792 of the £409,550 has been satisfied by the issue of 141,399 ordinary shares. Application has been made for the ... Read the full article

Argenta pegs industry hit from US tornados as high as $7bn

13th December 2021

Lloyd's managing agent Argenta says the freak tornado outbreak which devastated multiple US states over the weekend could drive industry losses as high as $7 billion. Mayfield, Kentucky Analysts believe the most suitable comparison to a past event is a derecho that hit Iowa in 2020. A derecho is essentially an ... Read the full article

Lloyd’s names General Representative for Luxembourg

13th December 2021

Lloyd’s Insurance Company S.A. (LIC), the European subsidiary of the insurance and reinsurance marketplace, has appointed Martial de Calbiac as its General Representative for Luxembourg. de Calbiac has more than four decades of experience, and currently holds the position of Retraité -  Gérant at Luxembourg-based firm Fremarlux Sàrl. He also served as ... Read the full article

Argenta exits Lloyd’s China platform

8th December 2021

Argenta Syndicate Management Limited (ASML), a subsidiary of the broader group, is to cease underwriting all new and renewal business relating to the Lloyd’s China platform (LICCL). This decision is effective immediately. ASML says it will work with LICCL to continue servicing existing business, and ensure that the run-off is conducted in ... Read the full article

Mosaic invites syndicated capital partners on worldwide risk

2nd December 2021

Mosaic Insurance has launched a syndicated program with the aim of drawing in new capital from commercial partners looking to underwrite complex specialty risks across various regional markets. The initiative will see Mosaic source and select specialty risks not typically seen in London and underwrite them via its network of hubs.Read the full article