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.
AM Best highlights Lloyd’s improved combined ratio in recent assessment
18th July 2022
AM Best’s recent assessment of Lloyd’s operating performance highlights the rating agency’s expectation that Lloyd’s will produce strong technical performance over the underwriting cycle, and that capital will continue to be attracted to the market. Analysts noted that improved pricing conditions, as well as a robust performance oversight by the corporation, ... Read the full article
“Cyberattacks a great threat to infrastructure and assets” – Lloyd’s
14th July 2022
National infrastructure and privately owned assets are at risk of from significant physical damage resulting from cyberattacks, says a new report from Lloyd’s. As a result, Lloyd’s says that as malicious attacks increase in frequency, cyber represents a key opportunity for insurers to support businesses and societies through the products and ... Read the full article
Jefferies positive on Lloyd’s pricing environment
11th July 2022
Jefferies has offered its view on Lloyd’s, saying that the pricing environment remains positive, despite ‘benign’ catastrophe losses. According to the firm, capacity withdrawals (including ILS capital) have continued to support pricing, particularly catastrophe exposed lines, as well as to improve terms and conditions for insurers. It added: “In addition, pricing has ... Read the full article
Lloyd’s to remain in iconic building
8th July 2022
A new report in the Financial Times says that Lloyd’s of London is planning to stay in its City building for at least another nine years. According to the report, despite rumours that the market would leave because of the prevalence of homeworking following the pandemic, a decision has been made ... Read the full article
Lloyd’s Europe hires Heugues as Chief Underwriting Officer
7th July 2022
Lloyd's has announced the hiring and appointment of former Ageas senior executive as its new Bertrand Heugues as Chief Underwriting Officer (CUO) for the Lloyd's Europe branch. Headquartered in Brussels, the Lloyd's Europe branch was originally established so the market could continue to operate effectively in Europe after Brexit, providing continuity ... Read the full article
Lloyd’s announces it will collect information on inflation’s impact on reserving
6th July 2022
Lloyd’s has said that it is now collecting information on the impact of inflation on reserving, to ensure underwriters, members and syndicates are accounting for the current global macro-economic environment. In a new note, it said that it would request information, for reporting from Q2 2022, on loses resulting from Ukraine, ... Read the full article
Lloyd’s AA- rating affirmed by KBRA
5th July 2022
Kroll Bond Rating Agency (KBRA) has assigned an AA- insurance financial strength rating (IFSR) to Lloyd's with a stable outlook. According to KBRA, the latest rating reflects Lloyd’s strong risk-adjusted capitalisation, favourable capital trends and multi-faceted capital structure. It also highlighted its conservative underwriting leverage, sound technical reserves, strong liquidity profile, diversified ... Read the full article
Lloyd’s CEO says value and awareness of insurance ‘never higher’
1st July 2022
John Neal, CEO of Lloyd’s, has said that the value and awareness of insurance has never been higher. Citing events such as the Covid-19 pandemic and Russia’s invasion of Ukraine, Neal told delegates at the Marsh McLennan Rising Professionals’ Global Forum that these events had led to ‘the most-uncertain landscape seen ... Read the full article
Parsyl opens office in London, hires underwriting team
23rd June 2022
Parsyl, a provider of insurance for essential supply chains, has announced that it has opened an office in London, and has hired a team of industry-leading marine cargo professionals to serve Lloyd’s open market via Parsyl’s Syndicate 1796. Joining the company are Kristopher Kimble, Director of Aon, Henry Wood, Partner at ... Read the full article
Lloyd’s revises its guidelines on catastrophe exposure and line sizes
22nd June 2022
Following a review, Lloyd’s has revised its guidelines on Catastrophe Exposure and Line Sizes. A new requirement has been introduced to restrict the amount of tail risk that a syndicate can be exposed to. This operates as follows (depending on whether a syndicate has an internal model ... Read the full article
ABIR roundtable celebrates Lloyd’s partnership
21st June 2022
Leaders from Bermuda and Lloyd’s reinsurance markets joined Bermuda’s Premier and Minister of Finance, David Burt MP, in a roundtable discussion in London. Premier Burt visited the UK last week for a series of meetings aimed at building relationships and stimulating additional growth in the island’s financial services ... Read the full article
Lloyd’s reappoints Bruce Carnegie-Brown as Chairman
16th June 2022
Bruce Carnegie-Brown, who joined the specialist Lloyd's insurance and reinsurance marketplace as Chairman in 2017, has been reappointed for a third term. Effective June 2022 to June 2025, the reappointment sees Carnegie-Brown extend his service to eight years. Previously, he served as the Chairman of Moneysupermarket.com Group and vice-Chairman of Banco Santander. Read the full article
Lloyds’ broker Servca drives EU expansion with opening of Malta office
16th June 2022
Independent international Lloyds of London broker, that specialises in non-standard medical, financial and professional lines insurance – Servca, has announced the opening of an office in Malta to help drive the expansion of its European business. By having passporting rights to all 28 countries within the EU, complete with Lloyd’s Brussels ... Read the full article
Lloyd’s, DXC & IUA extend London Market digitalisation contract
27th May 2022
The shareholders of the London Market Joint Venture – Lloyd’s, DXC Technology, and the International Underwriting Association (IUA), have announced a $465 million USD contract extension. The extension is to ensure seamless continuity for the activities of London insurance market customers, whilst DXC moves forward with the transformation of the market’s ... Read the full article
Lloyd’s appoints Waystone as investment platform operator
25th May 2022
Waystone, an institutional provider of services to the asset management industry, has been chosen as Platform Operator for the Lloyd’s investment platform. The new platform will consist of a series of select funds across asset classes, made available to Lloyd’s market investors who can freely invest in and allocate between them. Key ... Read the full article
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