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.
Lloyd’s to achieve combined ratio of around 95% for 2022 & 2023: S&P
17th January 2023
Analysts at S&P Global Ratings have suggested that the Society of Lloyd's will report a combined ratio of around 95% at the year-end of 2022, anticipating the same for 2023. The rating agency noted that this prediction takes into account Lloyd's combined ratio of 91.4% at half-year 2022, while also considering ... Read the full article
Silicon Valley exec Joe Hurd joins Lloyd’s Council
11th January 2023
Lloyd’s, the world’s leading marketplace for commercial, corporate and specialty risk solutions, welcomes Joe Hurd to the Council of Lloyd’s. He will replace John Sununu, who will be stepping away from the Council in May 2023 to focus on his new role as Non-Executive Chair, Lloyd’s Americas, where will be replacing ... Read the full article
Trium Cyber Syndicate 1322 begins to provide coverage
3rd January 2023
Trium Cyber has announced its US-based service company has begun to provide cyber and technology errors & omissions coverage for US-domiciled risks. Writing on behalf of Lloyd’s Syndicate 1322, the company is backed by Pelican Ventures and third-party capital providers like Asta, the leading third-party managing agent at Lloyd’s. In November ... Read the full article
Wakam’s Syndicate 1347 receives Lloyd’s approval
20th December 2022
European B2B2C insurer Wakam, has announced that Wakam’s Syndicate 1347 has received Lloyd’s approval to start underwriting for the 2023 year of account. The syndicate was launched under Lloyd’s Syndicate in a Box (SIAB) initiative and will operate on the Lloyd’s platform. It will be managed by Polo Managing Agency (PMA), ... Read the full article
Lloyd’s Council grants approval to Lime Syndicate Management
13th December 2022
Lloyd’s Council has granted ‘in principle’ approval to Lime Syndicate Management to be the first managing agency in Lloyd’s since Reconstruction & Renewal over 25 years ago, established solely to provide management services for third-party syndicates. A statement from Lime SM said that its technology solution JUICE provides a cost-effective, legacy-free ... Read the full article
Trawick Intl. receives approval as Lloyd’s Coverholder
13th December 2022
Trawick International has announced that it has received delegated authority as an approved Lloyd’s coverholder. As a coverholder, Trawick International is now part of Lloyd's foremost global network. The company also now holds the authority to underwrite and issue policies on behalf of Lloyd's. At the same time, this appointment grants Trawick ... Read the full article
Lloyd’s elects Richard Dudley as Council member
12th December 2022
Richard Dudley, Global Head of Climate Strategy at Aon, has been elected as a Working Member of the Lloyd’s Council, effective 1 February 2023. Dudley has been working in the Lloyd’s market, the world’s leading marketplace for commercial, corporate and specialty risk solutions, for nearly three decades and currently sits on ... Read the full article
Lloyd’s has headroom to sensibly grow catastrophe book: Tiernan
7th December 2022
The Lloyd's insurance and reinsurance market has "headroom" to grow its catastrophe book of business sensibly in the hardening market, according to Chief of Markets Patrick Tiernan. Tiernan was speaking this morning during his delivery of a Q4 message to the market and explained that despite plans being submitted for the ... Read the full article
All London market tech partners now support Blueprint Two solutions: Lloyd’s
6th December 2022
The specialist Lloyd’s insurance and reinsurance marketplace has confirmed that all London market technology vendors that interact with the existing central services have pledged their intent to introduce changes to their platforms to accommodate the new Blueprint Two solutions for the London insurance market. According to Lloyd's, Blueprint Two will digitalise ... Read the full article
Connect Underwriting launches Pixel Re for $500m+ property & downstream energy risks
5th December 2022
Specialist reinsurance MGA, Connect Underwriting Limited, has announced the launch of Pixel Re, a new dedicated monoline reinsurance vehicle for global property and downstream energy risks. For attachments of typically USD 500 million and above, the newly launched Pixel Re will offer facultative reinsurance for large multinational risks on an excess-of-loss ... Read the full article
Sports insurance business expected to reach $600bn by 2025
24th November 2022
The global expansion of the professional sport industry combined with the varying type of its insurance needs, has resulted in the exponential growth of the sports insurance business in the past few years. DBRS Morningstar expects it to continue growing and to reach $600 billion in revenues by 2025. Currently, Lloyd's ... Read the full article
Risks to food supply chains growing alongside complexity and size: Lloyd’s & WTW
21st November 2022
A new report from Lloyd’s and WTW says that the risks associated with food chains around the world have increased as these chains have grown in size, volume, and complexity. The firm said that food and drink supply chains will play an essential part in facilitating global progress and building societal ... Read the full article
Lloyd’s sees up to $3bn of Hurricane Ian claims after reinsurance
18th November 2022
The specialist Lloyd's insurance and reinsurance marketplace expects claims related to Hurricane Ian of up to $3 billion, net of reinsurance, based on third-quarter data provided by its syndicates. Lloyd's has released an estimated range for Hurricane Ian losses of $2.3 billion to $3 billion, after reinsurance, and says that this ... Read the full article
Trium Cyber syndicate 1322 approved to underwrite at Lloyd’s
17th November 2022
Trium Cyber syndicate 1322 has been given final approval by Lloyd’s. The third-party managing agent Asta said that the risk carrier had received permission to commence underwriting business on or after 1 January. It said that Trium Cyber plans to write $50m of gross premiums during its first year. All business will ... Read the full article
BOC Aviation sues 16 insurance companies over Russia losses
16th November 2022
BOC Aviation, a Singapore-headquartered aircraft lessor, has begun legal action against 16 insurance companies, including Lloyd’s of London, Chubb European Group, AIG Europe and Swiss Re, over losses linked to Russia-Ukraine war, according to a Reuters report. The proceedings were issued in the High Court on November 3, 2022. In August, the ... Read the full article
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