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.

Antares tops JP Morgan’s Lloyd’s Peer Analysis for investment performance

28th September 2022

QIC Group subsidiary Antares has announced that Antares Syndicate 1274 has been ranked first for investment performance based on three-year average investment return over the period from FY 2019 to 2021 according to JP Morgan Asset Management’s Lloyd’s Peer Analysis. According to the firm, it achieved an average annual investment return ... Read the full article

SiriusPoint names Bobby Heerasing Active Underwriter of Lloyd’s Syndicate 1945

26th September 2022

Global specialty re/insurer SiriusPoint has announced that Bobby Heerasing has been appointed Active Underwriter of Lloyd’s Syndicate 1945, effective from September 1st, 2022. Heerasing joined SiriusPoint in October of 2021 and holds over 25 years of market experience. He was previously CEO of Asia Capital Re and a Board member of ACR ... Read the full article

Lloyd’s can’t go around with its head in the sand as reinsurance market shifts: Patrick Tiernan

22nd September 2022

The reinsurance market has materially shifted and requires close attention ahead of the January 1st, 2023, renewals, leading Patrick Tiernan of Lloyd's to warn that the marketplace can't go around with its head in the sand. Tiernan, Chief of Markets at the specialist Lloyd's insurance and reinsurance marketplace, addressed an audience ... Read the full article

Lloyd’s broker Servca makes three senior appointments

16th September 2022

Independent international Lloyd’s broker, Servca, has announced three key appointments to its rapidly growing group. Ian Zammit joins the Servca Board as an experienced Executive Director brought in to head up the company’s newly opened European office in Malta. With over 30 years of industry experience, Zammit brings a wealth of ... Read the full article

Lloyd’s grants ‘in principle’ approval for launch of Flux syndicate 1985

14th September 2022

The specialist Lloyd’s re/insurance marketplace has granted ‘in principle’ approval for the launch of Flux syndicate 1985 that will commence underwriting at the beginning of next year. The news was announced in a joint statement from third-party managing agent Asta and the firm Acrisure. It said that Flux is expected to ... Read the full article

Asta-managed Trium Cyber gets green light from Lloyd’s

14th September 2022

Asta, the leading third-party managing agent at Lloyd’s, has announced that Trium Cyber, a new risk carrier backed by Jim Stanard’s Pelican Ventures, has received ‘in principle’ approval from Lloyd’s. Trium Cyber expects to write $50m of gross premiums during its first year of operations, commencing January 2023. Its executive team includes ... Read the full article

Catalina & Asta receive Lloyd’s approval for new RITC syndicate

13th September 2022

Bermuda-based provider of retrospective reinsurance and capital solutions, Catalina Group and Asta, a third-party managing agent, have received 'in-principle' Lloyd’s approval for a new reinsurance to close syndicate. Managed by Asta, Catalina Syndicate 3232 is aiming to commence accepting business into the 2023 YOA, and will be capitalised through a wholly ... Read the full article

Lloyd’s broker Ramon Intl. opens office in Korea to drive expansion into Asia

13th September 2022

Independent Lloyd’s of London broker, Ramon International has furthered its expansion into global re/insurance markets by announcing the opening of an office in Korea to drive its Asian business. The broker has brought a majority stake in CKI Korea, which is based in Seoul, through its parent company Kastor Holdings Ltd. The deal ... Read the full article

Westfield Specialty acquires Argo’s Lloyd’s Syndicate 1200 in $125m deal

8th September 2022

Westfield Specialty, a U.S. property and casualty insurer, has accelerated its "rapid growth" with the acquisition of Lloyd's Syndicate 1200 from Argo Group International Holdings, marking its entry into the international specialty market. The deal remains subject to regulatory approval but is expected to close in the first half of next ... Read the full article

Carbon Syndicate 4747 approved ‘in principle’ by Lloyd’s to transition to full syndicate

7th September 2022

Specialist, independent managing general underwriter (MGU) and Lloyd’s syndicate-in-a-box (SIAB), Carbon Underwriting Limited, has now received 'in principle' approval to from the marketplace to become a full Lloyd's syndicate from January 2023. Carbon Syndicate 4747 operates as an underwriting and market lead with a focus on coverholder partnerships within the global ... Read the full article

“Lloyd’s Market will post an robust underwriting performance over next two years” – S&P Global Ratings

30th August 2022

S&P Global Ratings' latest Lloyd’s Market 2022 Review states a belief that the market will post a robust underwriting performance between 2022 and 2024 as rates harden over many lines after turning in 2021 its first underwriting profit in five years. The report, subtitled Let the Good Times Roll?, says that ... Read the full article

Argenta breaks down Lloyd’s syndicate forecasts

23rd August 2022

Lloyd's managing agent Argenta has broken down the forecast results for the 2020 and 2021 years of account released by Lloyd’s for all syndicates supported by third party capital, together with an aggregate position for those syndicates with an aligned capital base. As at June 30th, 2022, Argenta notes that the ... Read the full article

Lloyd’s sets out requirements for state-backed cyber-attack exclusions

18th August 2022

In a recent market bulletin, Lloyd’s, the oldest insurance and reinsurance marketplace in the world, has set out requirements for state-backed cyber-attack exclusions in standalone cyber-attack policies. In the report, the market affirmed that they remain strongly supportive of the writing of cyber-attack cover but recognise that cyber-related business continues to ... Read the full article

Munich Re remains the world’s largest reinsurance company

17th August 2022

After taking the top spot last year, global reinsurer Munich Re remains the world's largest reinsurance company, with gross life & non-life reinsurance premiums written of more than $46.8 billion in 2021, as shown by our directory of the Top 50 Global Reinsurance Groups. The directory is ... Read the full article

New Credit Risk Insurance Policy model form published

11th August 2022

The Loan Market Association (LMA) has published a new model form of Credit Risk Insurance (CRI) Policy. According to the association, this was done in conjunction with Lloyd’s Market Association and the International Underwriting Association (IUA). It said that the CRI Policy is drafted for the purposes of insuring single borrower ... Read the full article