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.
Rate momentum, adequacy and trading challenges bring caution to Lloyd’s market: Patrick Tiernan
28th November 2024
Speaking at the Lloyd's Q4 2024 Market Message, Patrick Tiernan, Chief of Markets, explained that whilst looking at the jump off point for 2025, he sees a "global specialty market that continues to experience favourable, if not, more competitive conditions." Tiernan stated that the risk environment remains elevated within Lloyd's core ... Read the full article
The re/insurance industry has to evolve and innovate faster than ever before: Lloyd’s CEO, Neal
28th November 2024
As the insurance and reinsurance industry continues to grow, the extensive risk landscape also continues to widen, with major risks stemming from key areas such as climate change and cyber, which according to John Neal, Chief Executive Officer (CEO) of Lloyd's, means that the industry has to evolve and innovate ... Read the full article
Abu Dhabi Re expands product suite
26th November 2024
Abu Dhabi Reinsurance Company (ADRe), a reinsurance service provider in the Abu Dhabi Global Markets platform, has announced the expansion of its product suite to include Commercial General Liability. From what Reinsurance News understands, the addition of Commercial General Liability builds on ADRe's existing lines of business, providing limits of up ... Read the full article
OAK Re Syndicate 2843 receives permission to underwrite from January
26th November 2024
Oak Reinsurance (OAK Re), the global reinsurance firm, has announced that its Lloyd’s Syndicate 2843 has received permission to underwrite business incepting from January 1, 2025, which follows from the approval in principle that was received in September 2024. According to the announcement, OAK Re is launching Syndicate 2843 in collaboration ... Read the full article
AnchorWatch now a Lloyd’s of London Coverholder
20th November 2024
AnchorWatch, an insurer specialising in bitcoin custody, has received a Lloyd’s of London Coverholder position. This milestone solidifies AnchorWatch’s position in the emerging market of insured bitcoin custody solutions. The firm will officially open for business in December 2024, with binding authority of up to $100 million per customer, aiming to safeguard ... Read the full article
Helios expects value of the capacity fund to decrease to £75m at year-end 2024
18th November 2024
Lloyd's focused investment vehicle, Helios Underwriting, has updated the value of the company's value of capacity portfolio, now expecting to decrease to £75 million at 31st December 2024. Michael Wade, Chairman of Helios, commented: "The Freehold Capacity Portfolio has continued to deliver value to shareholders and we have realised £14m of ... Read the full article
Lloyd’s appoints Nathan Adams as Chief People Officer
4th November 2024
Lloyd’s, the global insurance and reinsurance marketplace, has announced the appointment of Nathan Adams as its Chief People Officer, effective early 2025. In his new role, Adams will report to John Neal, Chief Executive Officer of Lloyd’s, and will join the Lloyd’s Executive Committee. He succeeds Sara Gomez, who will retire from ... Read the full article
LSM’s Jane Warren appointed to the Lloyd’s Council
11th October 2024
Lloyd's of London, the specialist insurance and reinsurance marketplace, has added Jane Warren of Liberty Corporate Capital Limited, to the Lloyds Council and announced her election as a Corporate External Member of the Council. According to the announcement, Warren's appointment will be effective as of February 1, 2025 and will be ... Read the full article
Lloyd’s warns of $14.5trn economic risk from hypothetical geopolitical conflict
9th October 2024
Lloyd's has released a report noting that a hypothetical geopolitical conflict could disrupt global trade and supply chains, potentially leading to $14.5 trillion in losses for the global economy over a five-year period. Produced in partnership with the Cambridge Centre for Risk Studies, Lloyd's research explores eight "hypothetical but plausible" systemic ... Read the full article
Sir Charles Roxburgh named new Chair of Lloyd’s
19th September 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has announced that Sir Charles Roxburgh KCB will become its next Chair, effective 1 May, 2025. Roxburgh will be succeeding Bruce Carnegie-Brown, who has held the position since 2017. He brings a wealth of experience from both the UK Government and the private sector, ... Read the full article
IUA reports 10% increase in London company market premium income
18th September 2024
Recent data from the International Underwriting Association (IUA) shows that overall premium income for the London company market increased by approximately 10% in 2023, reaching £48.4 billion. This figure includes nearly £43 billion underwritten in London and an additional £5.4 billion from "controlled business" — premiums written elsewhere but overseen and ... Read the full article
Lloyd’s grants in principle approval for Awbury Syndicate 2025 to start underwriting
17th September 2024
The Awbury Group and Polo Managing Agency Limited have confirmed that Lloyd’s has granted “in principle” approval for Awbury Syndicate 2025 to commence underwriting from January 1st, 2025. The syndicate will be managed by Polo Managing Agency Limited, the independent Lloyd’s Managing Agent and a PoloWorks company. Awbury Syndicate 2025 specialises in ... Read the full article
Amphitrite Underwriting London now an approved Lloyd’s of London coverholder
16th September 2024
Amphitrite Underwriting London, a marine specialist managing general agent (MGA), has received its final approval from Lloyd’s of London to become an approved coverholder. The MGA stated that securing the coverholder status represents a significant milestone in its growth trajectory toward strategic diversification. Konstantinos Tampakakis, Chief Executive Officer of Amphitrite, stated, “This ... Read the full article
Lloyd’s announces changes to modernise its approach to misconduct
12th September 2024
Lloyd’s, the world's oldest insurance and reinsurance marketplace, is planning to introduce a series of changes to modernise and streamline how it addresses misconduct and problematic behaviours in the market, including both financial and non-financial issues. The new framework aims to better align with the internal HR and disciplinary processes of firms, ... Read the full article
Re/insurance industry to play key role in stabilising society in uncertain times: Lloyd’s CEO
9th September 2024
Speaking in PwC's executive breakfast briefing at the 66th Rendez-Vous de Septembre (RVS) in Monte Carlo, Lloyd's CEO John Neal emphasised the critical nature of the re/insurance market, noting that perhaps for the first time ever, it has a massive role to play in stabilising society. The CEO of the specialist ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
