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.
Integro finalises acquisition of Lloyd’s broker Tysers & Co
11th June 2018
Integro Group Holdings, an international insurance brokerage and specialty risk management firm, has announced that its affiliate has successfully completed the acquisition of Hawkes Bay Holdings (HBH), the principal parent company of specialty Lloyd’s broker Tyser & Co. The parties will now begin the process of merging their UK wholesale and ... Read the full article
Markel approved to underwrite reinsurance through Lloyd’s India platform
11th June 2018
Specialist re/insurer Markel International has received regulatory approval from the Insurance Regulatory and Development Authority of India to write reinsurance business in the country through the Lloyd’s India platform, with capacity provided by Markel’s Syndicate 3000 at Lloyd’s. Markel India will provide local Indian insurers with both treaty and facultative insurance ... Read the full article
Re/insurers must better prepare for unforeseen hurricane risks: Lloyd’s
11th June 2018
Lloyd’s has proposed several measures for re/insurers to better prepare themselves to respond to unforeseen natural catastrophe risks following 2017’s record-breaking hurricane season. Lloyd's 'After the Storms' report observed that 2017 was the costliest year on record for U.S natural catastrophes, and exposed several oversights in the way re/insurers model and ... Read the full article
Global economic output at risk from man-made events larger than nat cats: Lloyd’s
7th June 2018
A collaborative study by Lloyd’s of London and Cambridge University suggests man-made risks like cyber-crime, interstate conflicts and market crashes are a bigger threat to global economic output than natural disasters such as hurricanes, floods, earthquakes and volcanoes. Lloyd's City Risk Index, mapping 22 threats across 279 cities - the "key ... Read the full article
Hurricane Harvey flooding exposes widespread underinsurance: Lloyd’s
6th June 2018
The flooding in Houston caused by Hurricane Harvey in August 2017 has brought into relief the stark flood insurance protection gap for many communities in the U.S, according to the specialist insurance and reinsurance marketplace, Lloyd’s of London. Lloyd’s ‘After the Storms’ report assessed the damage caused by Hurricane Harvey, finding ... Read the full article
Lloyd’s coverholder status secured by Millstream Underwriting
24th May 2018
Managing General Agent Nexus Group member Millstream Underwriting has this week announced its approval as a Lloyd’s Coverholder. The move provides London-based Millstream with a greater capacity to underwrite business at Lloyd's. Development Manager of Millstream, Mark Copsey, said, “We’re delighted to announce that Lloyd’s has approved Millstream Underwriting as a Coverholder, ... Read the full article
Lloyd’s very well positioned in Asia-Pacific, excited about opportunity: Chaplin, Lloyd’s
23rd May 2018
The specialist Lloyd's of London insurance and reinsurance marketplace is well positioned in Asia-Pacific and is focused on building on its solid foundation in the region, which now accounts for 11.5% of the market's global income, according to Kent Chaplin, Chief Executive Officer (CEO) of Asia-Pacific, Lloyd's. Speaking with A.M. BestTV ... Read the full article
Lloyd’s approved for Brussels subsidiary, names Vandendael CEO
23rd May 2018
Lloyd’s has received licence approval from the National Bank of Belgium for its new Brussels subsidiary, Lloyd’s Insurance Company S.A. (Lloyd’s Brussels), and has named Vincent Vandendael as its Chief Executive Officer (CEO) ahead of a January 1, 2019 launch date. Lloyd’s Belgium, which was announced in March 2017, ... Read the full article
Mobile technology driving re/insurance penetration in Africa, says Lloyd’s Inga Beale
15th May 2018
Inga Beale, Chief Executive Officer (CEO) of Lloyd’s of London, has suggested that mobile technology is key to both supporting economic growth and driving re/insurance penetration across Africa. Although Africa has generally been late in its transition from analogue to digital technologies, the continent has essentially leapfrogged computers and landlines and ... Read the full article
Poor 2017 results suggest Lloyd’s syndicates under strain: RBC
14th May 2018
RBC Capital Markets has reported that Lloyd's syndicates are under considerable strain, having posted aggregate combined ratios of 114% in 2017, with the worst return on capital since 2001. RBC analysed 95 Lloyd's syndicate reports from 2017, finding that just 16% of syndicates by number, or 9% of syndicates by premium, ... Read the full article
Indian agriculture schemes require global reinsurance industry integration
10th May 2018
Lloyd’s and catastrophe risk modeller RMS have released a report that claims the global reinsurance industry needs to more fully integrated into current Indian agricultural re/insurance schemes. India is the world’s second largest agricultural economy after China with an Agriculture Gross Domestic Product of US $392 billion, but remains largely uninsured ... Read the full article
Lloyd’s market to benefit from further rate hikes at mid-year: RBC Capital Markets
25th April 2018
Pricing is beginning to show signs of turning for the Lloyd's of London market, bringing the promise of a margins recovery after January renewals were up in total by 5-7% year-on-year, with further increases forecast in U.S. loss affected business at mid-year renewals, according to RBC Capital Markets. Lloyd's experienced over ... Read the full article
Lloyd’s commences hiring process for post-Brexit Brussels subsidiary
24th April 2018
Lloyd’s has announced that it has started the process of hiring staff for its new Brussels subsidiary, in preparation for a January 2019 launch date, according to Lloyd's Chief Executive Officer (CEO) Inga Beale. Current vacancies include a number of roles across finance, operations, compliance, HR, and underwriting, all of ... Read the full article
Lloyd’s collaborates with consulting and InsurTech specialists on Innovation Lab
23rd April 2018
Lloyd’s of London, the specialist insurance and reinsurance marketplace, is to collaborate with The Boston Consulting Group (BCG) and innovation and InsurTech specialist, L Marks on the development and operation of its planned technology Innovation Lab. Announced in February, the Lab is set to launch in September 2018 and will ... Read the full article
Lloyd’s CEO Beale and DFID back InsurTech solutions for developing countries
20th April 2018
Penny Mordaunt, Secretary of State for the Department for International Development (DFID), has joined Dame Inga Beale, Chief Executive Officer (CEO) of Lloyd's of London, at a Lloyd's event to discuss how science, innovation, and the City of London can help developing countries recover from natural disasters. Beale and Mordaunt showcased ... Read the full article