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 implement faster approval process for syndicate business plans
14th May 2019
Lloyd’s of London, the insurance and reinsurance marketplace, is planning to implement a faster approval process for syndicates’ 2020 business plan and capital submissions. In a recent market bulletin, Director of Performance Management Jon Hancock explained that Lloyd’s will commit to approving plans in four weeks by introducing a phased approach ... Read the full article
Lloyd’s partners with BSB to survey market behaviour & conduct
14th May 2019
Lloyd’s of London, the insurance and reinsurance marketplace, has commissioned the Banking Standards Board (BSB) to conduct an independent, market-wide culture survey on its behalf. The annual survey, which Lloyds claims is the largest ever conducted by the re/insurance sector, is intended to provide insight into standards of behaviour and conduct, ... Read the full article
A&P Worldwide Solutions registers as Lloyd’s broker
13th May 2019
A&P Worldwide Solutions Limited, a reinsurance broker based in London, has announced that it has been granted the status of a Lloyd’s broker. Registering with Lloyd’s will allow A&P to expand its operations while continuing to provide its current levels of service, the broker explained. "We are delighted to achieve Lloyd's broker ... Read the full article
Lloyd’s participants that fail to meet standards could face deregistration
10th May 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has warned that failure to meet its expectations regarding harassment, bullying, discrimination or misconduct related to alcohol or drugs, could result in deregistration from the marketplace. As Lloyd's continue to modernise, it recently published a bulletin introducing an updated set of rules applicable ... Read the full article
Lloyd’s targets simplified market access, lower costs, higher client value
1st May 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has announced a new strategy focused on delivering higher quality risk protection for the market's clients. Lloyd's describes its new strategy as bold, and explains that it includes several transformational initiatives that have the potential to shape the future of the global ... Read the full article
Canopius and AmTrust to merge Lloyd’s operations
18th April 2019
Canopius AG has announced the signing of a definitive sale and purchase agreement that will see its Lloyd's of London business merge with that of AmTrust at Lloyd's, subject to regulatory approval. The sale of AmTrust at Lloyd's, a division of AmTrust Financial, is expected to close in the third-quarter of ... Read the full article
Lloyd’s performance review to drive better marine energy results: analysts
18th April 2019
The intervention of the Lloyd’s Performance Management Directorate is expected to support better underwriting results for marine energy classes throughout 2019, according to analysts at Lloyd & Partners. The firm noted in its April 2019 quarterly energy newsletter that the performance review was not a one off event, with all syndicates ... Read the full article
Lloyd’s reforms “painful” but delivery “essential”, says Berenberg
11th April 2019
It's going to be a "painful process", but the specialist Lloyd's of London insurance and reinsurance marketplace is finally starting to address its high expense issue and deteriorating profitability, reports Berenberg. Overall, Berenberg believes that the Lloyd's and wider London market has finally started to reform, with initiatives underway across the ... Read the full article
Underwriting profitability of London market remains pressured, warns Fitch
9th April 2019
Fitch Ratings has maintained its negative sector outlook on the London insurance market, citing continued pressure on profitability as catastrophe events hit underwriting performance and expense ratios remain high. The global financial services ratings agency highlights the negative impact of catastrophe losses and low investment returns on the results of London ... Read the full article
Aurous Risk Partners secures first Lloyd’s binder
5th April 2019
Aurous Risk Partners , a London-headquartered managing general agency (MGA), has secured its first Lloyd’s energy binder, led by Arcus Syndicate 1856. Through this arrangement Aurous Risk Partners will be able to offer clients capacity within the European Economic Area (EEA) on behalf of Lloyd’s Brussels security and Arcus Syndicate 5330. Aurous ... Read the full article
Lloyd’s reforms were “solid first step” for market profitability: analysts
1st April 2019
The Lloyd’s market reforms supported an initial turnaround in underwriting results and represented a “solid first step” in returning the market to profitability, according to analysts at Keefe, Bruyette & Woods (KBW), although more remains to be done. Lloyd’s return improved by 50% year-on-year in 2018, although the market still ... Read the full article
Lloyd’s performance review to maintain rigour in 2019: Jon Hancock
28th March 2019
The performance review process at Lloyd’s is to maintain the same rigour in 2019 in order to build on the progress achieved last year, although its focus will shift towards encouraging growth and best practice, rather than clamping down on underperformance. This is according to Performance Management Director Jon Hancock, who ... Read the full article
Lloyd’s CEO targets more efficient, successful marketplace
27th March 2019
John Neal, the Chief Executive Officer (CEO) of Lloyd's of London has outlined a number of potential ideas for building a more efficient and successful insurance and reinsurance marketplace. In an ever-changing and rapidly advancing world, underpinned by technological advances and increased interconnectedness, the Lloyd's market is striving for increased efficiency. The ... Read the full article
Cats drive £1 billion market loss at Lloyd’s for 2018
27th March 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has announced an aggregated market loss of £1 billion for 2018, driven by a volatile investment environment and a costly year for natural catastrophe events. The £1 billion aggregated market loss compares with a loss of £2 billion a year earlier. A ... Read the full article
Lloyd’s outlines plan to address sexual harassment in the market
26th March 2019
Insurance and reinsurance marketplace Lloyd’s of London has outlined a new plan of action to address reports of sexual harassment in the market and create a “safe and inclusive” working environment. The new proposals are intended to increase reporting, impose strong sanctions on inappropriate behaviour, and promote better understanding and awareness ... Read the full article