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.
Brit announces launch of new Lloyd’s ILS fund
9th December 2019
Global specialty insurer and reinsurer Brit has announced the launch of a new Lloyd's of London focused insurance-linked securities (ILS) fund, Sussex Specialty Insurance Fund (SIF). Brit states that the new fund offers ILS investors access to Brit Syndicate 2988 and that it is the first fund structure of its type ... Read the full article
Lloyd’s issues behaviour warning ahead of Xmas parties
6th December 2019
Staff at insurance and reinsurance marketplace Lloyd’s of London have been warned to behave appropriately ahead of the Christmas party season, according to reports from Financial News. Lloyd’s Chief Executive John Neal told the publication that emails had been sent out to staff and member companies reminding them of the marketplace’s ... Read the full article
Lloyd’s of London launches space insurance policy
4th December 2019
Insurance and reinsurance marketplace Lloyd’s of London has launched a new space policy for the emerging private spaceflight industry. The solution, called Llift Space, is backed by a consortium of 18 syndicates, led by Brit and Hiscox MGA, with a $25 million capacity per risk. Only available in the Lloyd’s market, Llift ... Read the full article
Fitch revises London market outlook to stable, cites pricing & Lloyd’s
27th November 2019
Fitch Ratings has revised its 2020 outlook for the London market to stable from negative amid the improved pricing landscape and the market-wide profitability review initiated by Lloyd's of London. Overall, there is an improved pricing environment in the London marketplace, which Fitch expects to result in better underwriting results going ... Read the full article
Lloyd’s urges people to speak up against unacceptable behaviour
19th November 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has launched a new campaign designed to encourage people to speak out against unacceptable behaviour. The campaign, #SpeakUp, has been launched by Lloyd's in order to underline the importance of speaking up and to provide clear guidance on how people can take ... Read the full article
MS&AD takes $1.6bn hit on MS Amlin’s Lloyd’s, European profitability
19th November 2019
MS&AD Insurance Group Holdings has announced that MS Amlin's European primary insurance and Lloyd's business have been less profitable than it anticipated when acquired, and as such, an impairment loss of 175.4 billion yen (USD 1.6 billion) has been recognised as an extraordinary loss. The announcement comes as part of the ... Read the full article
LMA cyber clauses provide clarity for property and marine
15th November 2019
The Lloyd’s Market Association (LMA), an organisation set up to represent the interests of the Lloyd's community, has published a number of new clauses for the property and marine markets that aim to provide clarity for cyber coverage under first-party property damage policies. The publication comes as part of a push ... Read the full article
Praedicat to develop named peril casualty product from Lloyd’s Lab
13th November 2019
Praedicat, a risk analytics and modelling company for casualty re/insurers and industrial firms, has announced that it plans to develop a new named peril casualty product in the Lloyd’s Lab. Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, selected Praedicat as part of the third cohort ... Read the full article
Re/insurers risk irrelevance through ‘business as usual’ mindset: John Neal
13th November 2019
Re/insurance companies risk becoming irrelevant in the eyes of their customers if they decide to carry on with a ‘business as usual’ approach, despite the many challenges that face the industry today. This is according to John Neal, Chief Executive Officer (CEO) of insurance and reinsurance marketplace Lloyd’s of London, who ... Read the full article
Improvements to Tokio Marine Kiln syndicates on back year releases
11th November 2019
The latest Lloyd's of London syndicate results and forecasts from Tokio Marine Kiln (TMK) reveals improvements to Syndicates 510 and 557 for the 2017 Year of Account. Improvements to both Syndicate 510 and 557 for the 2017 Year of Account was driven by back year releases, says TMK. Starting with the 2017 ... Read the full article
Lloyd’s report reveals huge cyber risk protection gap across Asia-Pacific ports
30th October 2019
A single, large cyber-attack hitting major ports across the Asia-Pacific region could cost as much as USD 110 billion, of which just 8% would be covered by insurance, according to a new report produced by the University of Cambridge Centre for Risk Studies, on behalf of the Cyber Risk Management ... Read the full article
AIG targets US high net worth market with new Lloyd’s syndicate
23rd October 2019
American International Group, Inc. (AIG) has announced the launch of Syndicate 2019, a new Lloyd's of London syndicate designed to serve the specialist US high net worth market, subject to regulatory approval. Syndicate 2019 will be managed by Talbot Underwriting Limited, the MGA AIG acquired last year, and will start ... Read the full article
London market needs efficiency, Lloyd’s needs to execute: Davies, Xceedance
22nd October 2019
As Lloyd’s and the broader London market strive for greater efficiency, it’s important that the specialist insurance and reinsurance marketplace is successful in at least some areas of its prospectus, says Justin Davies, Head of EMEA at re/insurance service provider, Xceedance. After unveiling its Future at Lloyd’s prospectus back in May, ... Read the full article
Lloyd’s & Habitat for Humanity GB target braver, more resilient communities
21st October 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has entered into a new partnership with Habitat for Humanity Great Britain, designed to help create braver and more resilient communities in climate risk areas. The Lloyd's Charities Trust has launched the new disaster resilience partnership with Habitat for Humanity Great Britain, ... Read the full article
London market underwriting to remain under pressure through 2019: Fitch
14th October 2019
Analysts at Fitch Ratings anticipate that underwriting earnings are like to remain under pressure for London market re/insurers through the remainder of 2019. While improved pricing conditions are starting to benefit results, earnings are currently being offset by high expense ratios and lower scope for reserve releases, the rating agency said. London ... Read the full article
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