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.
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
Lloyd’s approves product recall insurer BluNiche as coverholder in Europe
10th August 2022
MGA accelerator DA Strategy has announced that their client BluNiche, a specialist product recall coverholder for the automotive and food industries, has been approved by Lloyd’s as a coverholder. According to the announcement, DA Strategy will be providing licensing, launch advice and European approval to allow BluNiche to become an Authorised ... Read the full article
Lloyd’s announces new and improved London Bridge PCC vehicle
3rd August 2022
The specialist Lloyd's insurance and reinsurance marketplace has received approval to establish a second protected cell company (PCC), building on the success of its London Bridge Risk PCC vehicle. The second London Bridge PCC has received regulatory approval from both the Prudential Regulatory Authority (PRA) and the Financial Conduct Authority (FCA) ... Read the full article
AXA tops list of largest EU insurers ranked by GPW
1st August 2022
When ranked by gross premiums written (GPW) in 2020, AXA tops the list of the largest European insurance companies with USD 115.3 billion. The insurer also recorded USD 80 billion of capital & surplus from 2020. Based on research data from ratings agency AM Best, our directory ... Read the full article
Impacts from Russia’s war against Ukraine keenly felt, says Lloyd’s and Aon report
28th July 2022
A new report from Lloyd’s and Aon says that the sector most affected by Russia’s invasion of Ukraine will be the energy sector. The report, Ukraine: A Conflict that Changed the World, lays out five plausible scenarios to the industries and geographies most affected by the conflict. Each scenario explores ... Read the full article
Lloyd’s explains market engagement approach for Blueprint Two
22nd July 2022
Lloyd’s has set out how it intends to engage with the market for Blueprint Two. Published on its website, it outlined three areas under which it was tackling engagement: the formation of a single market readiness team that will work with the joint venture; the segmenting of the market its third ... Read the full article
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