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.
Transition to a low carbon economy requires global collaboration: Lloyd’s CEO Neal
16th September 2021
The critical journey to a successful transition to a low carbon economy will require global collaboration on a vast scale, according to John Neal, Chief Executive Officer (CEO) of Lloyds. Executives from the specialist Lloyd’s insurance and reinsurance recently market held a virtual climate change discussion, as part of the 2021 ... Read the full article
Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s
15th September 2021
To better assess the impacts of climate change over time, there's a real need to integrate the work of the scientific community with the actuarial work undertaken by the re/insurance industry, according to Dr. Kirsten Mitchell-Wallace, Head of Portfolio Risk Management, Lloyd's. Executives from the specialist Lloyd's insurance and reinsurance market ... Read the full article
Lloyd’s partners with McKenzie for GEO tech platform
26th August 2021
The specialist Lloyd's insurance and reinsurance marketplace has entered into a two-year partnership with McKenzie Intelligence Services (MIS) to deliver a faster claims service through its geospatial (GEO) technology platform. The GEO platform will provide the Lloyd’s market with real-time analysis of global perils including storms, wildfires and flooding, producing data ... Read the full article
Blenheim approved to launch managing agency
9th August 2021
Blenheim Underwriting, a wholly owned subsidiary of White Bear Capital, has now been granted final approval and received the necessary permissions to act as a managing agency in respect of Syndicate 5886. It was revealed in March of last year that Blenheim had received 'Approval in Principle' to launch its ... Read the full article
Cryptocurrencies & claims a focus of the seventh Lloyd’s Lab cohort
6th August 2021
Lloyd's has today unveiled the next 11 InsurTech startups joining the seventh group of the Lloyd's Lab innovation accelerator programme, which this time will focus on the development of simpler products and solutions targeting the cryptocurrency space. Lloyd's selected its next cohort of InsurTech startups from 179 applications, with each successful ... Read the full article
Lloyd’s players support UK Gov live events reinsurance scheme
6th August 2021
The UK government has partnered with the specialist Lloyd's insurance and reinsurance marketplace to deliver the Live Events Reinsurance Scheme, which is worth more than £750 million and designed to help organisers plan events with confidence. While the majority of Covid-19 restrictions have now lifted in the UK, the losses faced ... Read the full article
Lloyd’s takes steps to accelerate transition to net zero carbon
29th July 2021
The specialist Lloyd's insurance and reinsurance marketplace has unveiled a new climate action roadmap as the entity looks to work with critical industries to help accelerate the pace of change as the need for net zero carbon intensifies. Today, Lloyd's has released a new report, Insuring a sustainable, greener future, as ... Read the full article
Lord Sedwill appointed to the Lloyd’s Council
26th July 2021
Lloyd's of London, the specialist insurance and reinsurance marketplace, has added Mark Sedwill, Baron Sedwill of Sherborne KCMG FRGS, to the Lloyd's Council and announced his election as Senior Independent Director and Deputy Chair of Lloyd's. Lord Sedwill takes over from Andy Haste, who has served as Lloyd's Deputy Chair and ... Read the full article
Lloyd’s Europe looks to complete leadership with new Board additions
14th July 2021
Lloyd’s Insurance Company (LIC), the European subsidiary of the Lloyd's insurance and re/insurance marketplace, has announced the additions of Bruno van Lierde, Nicole Verheyen, Amélie Breitburd, and Angela Crawford-Ingle to its Board of Directors. A search process is also underway for the recruitment of an additional independent, non-executive director which would ... Read the full article
Jencap acquires Lloyd’s coverholder Worldwide Special Risks
9th July 2021
Wholesale program management and binding authority business Jencap has acquired Lloyd’s coverholder underwriting agency Worldwide Hole ‘N One (WHNO). Through its primary brand, Worldwide Special Risks (WWSR), the company services the live events market with a range of covers including cancellation, non-appearance, and event property and liability. Additional lines, set to include ... Read the full article
Lloyd’s gets £650m cover for Central Fund: Report
17th June 2021
The Lloyd's of London insurance and reinsurance market has taken out a £650 million cover from an investment bank and reinsurers to protect its Central Fund against significant loss events, according to a report from the FT. The Central Fund reinsurance, or perhaps retrocession, arrangement, will have a five-year term and ... Read the full article
Lloyd’s catastrophe risk exposure declined to £1.4bn in 2020: Moody’s
20th May 2021
According to a Moody’s report, Lloyd’s exposure to catastrophe risk has declined significantly in recent years to end last year at £1.4 billion (USD 2bn), or 6% of the solvency capital requirements (SCR). The report noted that at year-end 2016, so prior to the severe and costly natural catastrophe events of ... Read the full article
The uptake of insurance remains inconsistent: Lloyd’s CEO, John Neal
19th May 2021
Reinsurance broker Aon has launched a report examining growth prospects and future opportunities for London’s insurance market. Within the report, Lloyd’s Chief Executive Officer John Neal discussed the need to close the protection gap by preparing for future systemic risks. Neal commented: "Insurance is at the heart of global economies, and as ... Read the full article
Asta gains Lloyd’s ‘in principle’ approval for new MPS Syndicate
18th May 2021
Third-party Lloyd’s managing agent Asta has announced that Lloyd’s has provided 'in principle' approval for the transition of the Medical Protection Society’s (MPS) Special Purpose Arrangement (SPA) 1892 to a full syndicate. MPS was established in 1892 and was formed to protect the careers, reputations, and financial security of almost 300,000 ... Read the full article
As Lloyd’s re-opens re/insurers have work to do: London FOIL President
17th May 2021
With lockdown restrictions further relaxed around the UK today, the specialist Lloyd's of London insurance and reinsurance marketplace has reopened its underwriting room. Initially, the world's oldest insurance market has only reopened its famous underwriting room for those who need to be in, with plans to further relax restrictions at 1 ... Read the full article
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