Reinsurance News

Lloyd’s 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.

News on syndicates operations, company formations and corporate members in the Lloyd’s marketplace.

MGA Redline Underwriting achieves Lloyd’s coverholder status

26th September 2023

Managing General Agent, Redline Underwriting, has been approved as a Lloyd’s coverholder as it continues expanding its operations. Redline Underwriting, legally known as Reinsurance Distribution Lines LLC, is based in Miami with presence in Mexico City, which makes it ideally positioned to serve Latin America, the company claims. Its rapid growth has ... Read the full article

Lloyd’s Lab plays significant role in driving value into the global marketplace: Dawn Miller

25th September 2023

Addressing Lloyd's participants and partners, Dawn Miller, Lloyd’s Commercial Director, stated that the Lloyd's Lab has played a "significant role in driving value into the global marketplace". Speaking at the Lloyd’s latest quarterly market update, Miller highlighted how of the 100 different companies who have passed through the previous 10 cohorts ... Read the full article

Political violence, terror, SRCC a concern: Patrick Tiernan, Lloyd’s

22nd September 2023

Addressing Lloyd's participants and partners, Patrick Tiernan, Chief of Markets, suggested that the marketplace was disappointed with the response of many syndicates to tightening reinsurance coverages in the specialty space, and in particular within political violence, terror, and strikes, riots and civil commotions (SRCC). Speaking at Lloyd’s latest quarterly market update ... Read the full article

Cost, confidence and relevance key to success of insurance: Carnegie-Brown, Lloyd’s

21st September 2023

For the insurance industry to successfully address some of the key risks facing the world and support resilience, inclusivity, and sustainability, it's vital that there's a real focus on cost, confidence, and relevance, according to Bruce Carnegie-Brown, Chairman of Lloyd's, the specialist insurance and reinsurance marketplace. During an insightful discussion with ... Read the full article

Lloyd’s yet to demonstrate same zeal for rate adequacy in casualty book: Tiernan

21st September 2023

"As a market, we have not yet demonstrated the same zeal for rate adequacy in the casualty book as we've seen in property, this is particularly true for US general liability, where rate is barely keeping up with inflation, despite the continuing deterioration of the 2014-2018 years of account," suggests ... Read the full article

Lloyd’s unveils UNCDF & Insurance Task Force partnership

20th September 2023

Lloyd’s, on behalf of the Sustainable Markets Initiative’s Insurance Task Force, has announced a partnership with the United Nations Capital Development Fund (UNCDF) to scale insurance access for climate-vulnerable countries. Through this partnership, all parties aim to collaborate to design innovative insurance products that will deliver financial resilience against climate shocks ... Read the full article

LMA announces the launch of its ESG Academy

20th September 2023

The Lloyd’s Market Association (LMA) has announced the launch of its Environmental, Social and Governance (ESG) Academy, designed for professionals within the Lloyd's market and the global re/insurance sector. With a comprehensive range of courses and resources, the Academy looks to equip professionals with the knowledge and tools necessary to navigate ... Read the full article

Lloyd’s considering expanding LCM 5 peak perils list: Tiernan

20th September 2023

The Lloyd's insurance and reinsurance market is considering expanding its list of the five main peak perils it considers in natural catastrophe exposure management, to include some of the so-called secondary perils that now have materiality to the market almost on the same scale. This is according to Patrick Tiernan, Chief ... Read the full article

Lloyd’s & Moody’s to develop emissions accounting solution through Lloyd’s Lab

14th September 2023

Lloyd’s has announced a collaboration with Moody’s Analytics to develop a solution that will help quantify greenhouse gas emissions across managing agents’ underwriting and investment portfolios. According to Lloyd's, the solution will aid managing agents in meeting expected regulatory reporting requirements. Under current frameworks like Streamlined Energy and Carbon Reporting (SECR), ... Read the full article

Ogier advises IFRC on launch of its new risk transfer mechanism

14th September 2023

Ogier's Banking and Finance team in Guernsey has advised the International Federation of Red Cross and Red Crescent Societies (IFRC) on the launch of its new risk transfer mechanism, which will "transform the organisation's approach to disaster response." Ogier provides legal advice on BVI, Cayman, Guernsey, Irish, Jersey and Luxembourg ... Read the full article

Investor sentiment for accessing Lloyd’s is really encouraging: Argenta

12th September 2023

A perfect storm of premium rating, investment earnings on premiums and reserves, as well as the impressive half-year performance of Lloyd’s, means investors are expecting good things from accessing the returns of the oldest insurance market in the world, according to Argenta Private Capital Limited (APCL). Reinsurance News spoke with Robert ... Read the full article

Lloyd’s reports improved underwriting profit of £2.5bn for H1 2023

7th September 2023

The marketplace for re/insurance, Lloyd’s, has reported a strong set of results for H1 2023, with an underwriting profit of £2.5 billion, a significant increase from H1 2022’s £1.2 billion. The strong underwriting result was driven by relatively lower major claims in the period, as the combined ratio improved by 6.2 ... Read the full article

Aon & Lloyd’s collaborate with IFRC to launch new disaster response risk transfer mechanism

6th September 2023

The International Federation of Red Cross and Red Crescent Societies (IFRC), in collaboration with Aon, Lloyd’s Disaster Risk Facility and the Centre for Disaster Protection, has announced the launch of a groundbreaking financial mechanism to transform disaster response. This tool provides a backstop for the IFRC's Disaster Response Emergency Fund (DREF). According ... Read the full article

Munich Re ranked largest reinsurer for third year running by AM Best

22nd August 2023

After taking the top spot from Swiss Re in 2020, the latest data from ratings agency AM Best confirms that German reinsurer Munich Re remains the world's largest reinsurance company when ranked by gross life and non-life premiums written in 2022. With reinsurance gross premiums written (GPW) of ... Read the full article

Latin Re obtains license to operate directly at Lloyd’s

21st August 2023

Latin Re, an independent brokerage founded in 2019, becomes the first Brazilian broker to obtain a license to operate directly at the specialist Lloyd's insurance and reinsurance marketplace. Operating directly at Lloyd's allows Latin Re to sell reinsurance risks from across Latin America directly to London underwriters. This market opening brings ... Read the full article