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.
Envelop Risk launches dedicated cyber reinsurance Lloyd’s vehicle with Apollo
22nd January 2024
Cyber re/insurance and analytics specialist Envelop Risk has launched Envelop SPA 1925, a dedicated cyber reinsurance Special Purpose Arrangement (SPA) at Lloyd’s, in partnership with Apollo, through its Strategic Partner Syndicates business and Apollo Syndicate 1971. The SPA officially launched on the 1st of January 2024 with Chris Baddeley taking the ... Read the full article
Inherent Risks to provide USAID medical evacuation services for Ukraine
22nd January 2024
Global risk advisory firm, Inherent Risks has won a prime contract for an undisclosed amount to provide emergency medical response and evacuation services to United States Agency for International Development (USAID) funded projects in Ukraine. Since Russia’s invasion of Ukraine in February 2022, Inherent Risks has provided $9.88 billion in development ... Read the full article
Sustainability, technology and geopolitical challenges top risks for transport industry
10th January 2024
A new report from Lloyd's, the global insurance and reinsurance marketplace, in collaboration with WTW, delves into the challenges and opportunities facing the global transport and logistics industry. Titled On the move: Rethinking transport and logistics supply chains, the report underscores the risks and insurance prospects within a $9.7 trillion industry ... Read the full article
K2 Financial launches Aegis Financial Lines with former Hanover Insurance Group Leader
9th January 2024
Aegis Financial Lines (AFL), a division of Aegis General Insurance Agency, in partnership with its sister company, K2 Financial, has achieved approval of their official coverholder status with Lloyd’s, the global insurance and reinsurance marketplace. AFL is an expansion of K2 Financial’s operation in London. Moreover, Kevin Leach, the founder & Senior ... Read the full article
Beazley ‘delighted’ to sponsor first 144A cat bond via the Lloyd’s London Bridge platform
8th January 2024
The world's oldest insurance and reinsurance marketplace, Lloyd's, has confirmed the issuance of the first 144A catastrophe bond transaction via London Bridge 2 PCC Limited, the Beazley sponsored $100 million transaction. The deal, which is listed in the Artemis Deal Directory, is the first 144A property catastrophe bond sponsored ... Read the full article
NormanMax gets ‘in principle’ Lloyd’s approval to launch parametric syndicate
21st December 2023
US-based parametric re/insurance group NormanMax Insurance Holdings has received ‘approval in principle’ from Lloyd’s to launch parametric Syndicate 3939 in 2024, to be managed by Apollo Syndicate Management. NormanMax noted that Syndicate 3939 aims to commence underwriting in April 2024, "focussing on natural catastrophe parametric re/insurance products that offer a unique ... Read the full article
Lloyd’s expands investment horizon with launch of US Direct Lending Fund
15th December 2023
Lloyd’s, the global insurance and reinsurance marketplace, has expanded its investment opportunities with the launch of the US Direct Lending Fund on the Lloyd’s Investment Platform. This new fund provides efficient access to US middle-market direct lending opportunities through a custom-tailored fund structure designed to meet the specific investment needs of ... Read the full article
Helios Underwriting ups capacity for 2024 to £501m
15th December 2023
Helios Underwriting PLC, the Lloyd's investment vehicle, has upped its capacity for 2024 to £501 million, as the company takes advantage of new syndicate opportunities. This 2024 capacity represents a 61% increase from 2023, where total capacity stood at £310 million. According to the firm, the growth has been achieved through a ... Read the full article
McKenzie Intelligence extends provision of geospatial intelligence for Lloyd’s market
15th December 2023
McKenzie Intelligence Services (MIS) and London Market Operations & Strategic Sourcing (LIMOSS), with support from the Lloyd’s Market Association (LMA), have agreed to extend the provision of geospatial intelligence for Lloyd’s market for 2024. MIS is a geospatial intelligence provider for the global insurance industry that has equipped the Lloyd’s market ... Read the full article
AXIS Capital to launch Energy Resilience Syndicate 2050 at Lloyd’s
14th December 2023
Global specialty underwriter and provider of re/insurance solutions, AXIS Capital Holdings Limited, has received in-principle approval from Lloyd’s to establish a new syndicate dedicated to providing capacity for new energy projects. Through Energy Resilience Syndicate 2050, which will have a critical role in supporting the transition to net zero and building ... Read the full article
S&P upgrades Lloyd’s financial strength rating to AA–
13th December 2023
London headquartered insurance and reinsurance marketplace Lloyd’s has announced that S&P has revised its financial strength rating to ‘AA–’; outlook stable, from ‘A+’; outlook stable. According to Lloyd's, the rating upgrade reflects the improvement in its balance sheet strength, which S&P has assessed to be ‘excellent’. The rating agency noted that another ... Read the full article
HPG Members to provide Funds At Lloyd’s to support underwriting capacity
11th December 2023
High Premium Group (HPG) members have clubbed together to provide Funds At Lloyd's (FAL) to support approximately £5 million of underwriting capacity in three Lloyd's Syndicates. The group, led by Dhruv Patel OBE, Deputy Chair of HPG and a Director of the Association of Lloyd’s Members (ALM), used their collective expertise ... Read the full article
Africa Specialty Risks receives ‘in-principle’ approval to launch Lloyd’s syndicate
8th December 2023
Pan-African focused insurer and reinsurer, Africa Specialty Risks (ASR), has now received ‘in-principle’ approval to launch a Lloyd’s syndicate in 2024, which aims to begin underwriting in March 2024 with a focus on underwriting business across Africa. The ‘in-principle’ approval from the Lloyd's Council remains subject to additional financial and operational ... Read the full article
Next phase of Blueprint Two to launch in April 2025: Lloyd’s
7th December 2023
After a request from the Lloyd’s Market Association (LMA) Board, Velonetic and the Lloyd’s marketplace have decided to move the launch date of phase two of Blueprint Two digital services (which includes the Digital Gateway) to April 2025. Earlier this year, it was confirmed that the Blueprint Two digitalisation programme will ... Read the full article
Jonathan May to succeed Amélie Breitburd as Lloyd’s Europe CEO
7th December 2023
Jonathan May, currently Chief Financial Officer (CFO) and Chief Operations Officer (COO) for Lloyd’s Europe, will take over from Amélie Breitburd as the new Chief Executive Officer (CEO) of the European subsidiary on January 1st, 2024. Breitburd is set to leave Lloyd's Europe (Lloyd’s Insurance Company (LIC), operating from Brussels) on ... Read the full article
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