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.
Marsh McLennan, Lloyd’s backed Unity expands coverage to boost Ukrainian economy
1st March 2024
Marsh McLennan, a re/insurance broker, in collaboration with the Ukrainian government and Lloyd’s, announced the expansion of its Unity insurance facility (Unity) to now cover war risk insurance for ships carrying all non-military cargo. Initially launched in November 2023 to provide affordable war risk insurance for grain shipments and other ... Read the full article
M&A could be back on the table at Lloyd’s: J.P. Morgan
1st March 2024
According to analysts at J.P. Morgan, mergers and acquisitions (M&A) could be making a return to the Lloyd’s space. Historically, there was a lot of M&A activity in this market, with analysts highlighting that the number of listed Lloyd's players reduced from 10 to 3 in 2007. J.P. Morgan analysts believe this ... Read the full article
Lloyd’s confirms Claire Schrader’s position as General Counsel
19th February 2024
Lloyd’s, the global insurance and reinsurance marketplace, has confirmed Claire Schrader as General Counsel, responsible for managing legal risk at Lloyd’s. Schrader, who also will also remain a member of Lloyd’s Executive Committee, had been performing this role on an interim basis since August 2023 as Peter Spires, Lloyd’s former ... Read the full article
Amwins MGA Unicorn Underwriting secures box at Lloyd’s
13th February 2024
Unicorn Underwriting, the London-based Managing General Agent (MGA) of Amwins, has announced it has secured a box at Lloyd's, demonstrating the firm's commitment to "maintaining excellent service levels" and its belief in face-to-face trading. Simon Jackson, Managing Director of Unicorn Underwriting, commented, "We're so pleased to be taking this Lloyd's box. "In ... Read the full article
Lloyd’s launches USD Enhanced Yield Liquidity Fund on investment platform
5th February 2024
Lloyd’s, the global insurance and reinsurance marketplace, has unveiled its inaugural public asset fund, the USD Enhanced Yield Liquidity Fund, available on the Lloyd’s Investment Platform. The fund aims to present an investment alternative to long-term strategic cash reserves at Lloyd’s, focusing on higher returns, optimal liquidity, and efficient Solvency II ... Read the full article
Didier Lechien named Head of Underwriting Performance & Reinsurance, Lloyd’s Europe
5th February 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has appointed Didier Lechien as Head of Underwriting Performance and Reinsurance at Lloyd's Europe, based in Brussels. "I'm happy to communicate that the scope of my responsibilities at Lloyd's Europe is extended. As of now, I'll be managing the Underwriting Performance and Reinsurance. ... Read the full article
Howden unveils carbon capture and storage insurance facility led by SCOR’s Lloyd’s syndicate
29th January 2024
Global insurance broker Howden's carbon capture and storage insurance facility aims to unlock crucial investment to support the global transition to net zero and is the second innovative solution from the firm designed to support the growth of the carbon market. This first-of-its-kind insurance facility provides cover for the sudden or ... Read the full article
Host of re/insurers seek reimbursement after paying out $1bn for Lahaina wildfires
25th January 2024
More than 140 insurance industry plaintiffs, including State Farm, Swiss Re and Lloyd's, have reportedly joined lawsuits filed against utilities and landowners related to the Maui, Hawaii wildfires, which destroyed much of Lahaina and killed 100 people back in August of 2023. According to a Honolulu Civil Beat report, insurance industry ... Read the full article
Lloyd’s appoints Chris Mackinnon as future Regional Director, APMEA
23rd January 2024
Lloyd's has announced that Chris Mackinnon is set to become its regional director for Asia Pacific Middle East and Africa following Ian Ferguson's retirement at the end of 2024. Mackinnon is an industry veteran with an international career that spans over three decades. Mackinnon's tenures in senior roles have given him expert ... Read the full article
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