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.
2019 is the year of building the toolkit: Catlin, Brand, Convex
11th October 2019
Specialty insurer and reinsurer Convex continues to build its toolkit and lay strong foundations in a changing reinsurance market landscape, explains Stephen Catlin and Paul Brand. In an interview with Reinsurance News, Convex co-founders Catlin and Brand, discussed the thinking behind the launch of the international specialty re/insurer, the story so ... Read the full article
Lloyd’s, AIR target greater supply chain resilience
10th October 2019
A new framework designed to help both risk managers and insurers close the supply chain risk protection gap has been co-produced by the specialist Lloyd's of London re/insurance marketplace and catastrophe risk modeller, AIR Worldwide. A new report from Lloyd's and AIR Worldwide, Hidden Vulnerabilities in Supply Chain Risk: A quantitative ... Read the full article
Marine market is still adjusting to ongoing Lloyd’s efforts: Marsh JLT Specialty
10th October 2019
The Marine market continues to adjust to the efforts of the Lloyd's of London market to improve profitability, and as dedicated marine syndicates continue to close, Marsh JLT Specialty has questioned what is at stake should pricing remain at current levels. In response to falling profits driven in part by underperforming ... Read the full article
Push for low cost networks could result in catastrophic supply chain risk: Report
9th October 2019
Some businesses might well be ignoring or failing to see concentrations of risk in their supply chain amid a desire for low cost networks, according to a new report from Airmic, in collaboration with AIR Worldwide, Gallagher, HDI, Lloyd's of London, and Sedgwick. The report, Complex Supply Chains in a Complex ... Read the full article
Market groups commend collaborative approach of Lloyd’s Blueprint One
1st October 2019
Representatives from various market groups have released statements commending the approach proposed by Lloyd’s Blueprint One, which outlines the first phase of the marketplace’s new strategy for change. Industry executives praised the collaborative approach utilised by Lloyd’s, which says it has attempted to respond to the demands of the market. “This Blueprint ... Read the full article
Munich Re sponsoring first Syndicate-in-a-Box at Lloyd’s
1st October 2019
Insurance and reinsurance marketplace Lloyd’s of London has announced that Munich Re will launch the first new ‘Syndicate-in-a-Box’ through its established Lloyd’s vehicle Munich Re Syndicate Limited. The announcement was made as part of the release of Blueprint One yesterday, which outlines how the first phase of Lloyd's strategy for ... Read the full article
Lloyd’s outlines strategy for change in Blueprint One
30th September 2019
Insurance and reinsurance marketplace Lloyd’s of London has released a new document outlining how the first phase of its strategy for change will be delivered, following the launch of the Future at Lloyd's prospectus back in May. Blueprint One proposes to enhance Lloyd’s value proposition to customers by offering better ... Read the full article
Lloyd’s announces new parametric solution targeting hotel profit protection
24th September 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has announced the launch of the first policy developed by Lloyd's Product Innovation Facility, a parametric solution targeting the hotel industry. The Lloyd's Product Innovation Facility was launched in June of this year to accelerate the development of re/insurance solutions for new ... Read the full article
LMA heads pledge support to Lloyd’s harassment actions
24th September 2019
The Board of the Lloyd’s Market Association (LMA) has pledged to work actively through a CEO reporting network to tackle sexual misconduct in the market, following the implementation of new inclusivity measures at Lloyd’s. Lloyd’s said earlier today that it would introduce the new program of measures after the results ... Read the full article
Lloyd’s harassment survey prompts stronger inclusivity measures
24th September 2019
Lloyd’s of London has announced a new program of measures to foster a safer and more inclusive working environment after the findings of a recent survey revealed widespread issues regarding sexual harassment and employee wellbeing in the marketplace. The culture survey, which was commissioned by Lloyd’s in the wake of public ... Read the full article
Lloyd’s performance improvements not yet sufficient, says KBW
20th September 2019
Analysts at Keefe, Bruyette & Woods (KBW) have contended that the Lloyd’s of London results for the first half of 2019 show necessary but insufficient improvements in the performance of the insurance and reinsurance marketplace. Lloyd’s released its H1 results earlier this week, reporting a £2.3 billion profit before tax, ... Read the full article
Nephila looks to reduce Lloyd’s costs with finance platform from Phinsys
19th September 2019
Nephila Syndicate Management Ltd (NSML) has selected the suite of finance and accounting products from software provider Phinsys to help streamline its financial processes and automate statutory, regulatory and management reporting. Nephila Syndicate 2357 is set to migrate from third party management to its own independent managing agency in October, and ... Read the full article
David Sansom confirmed as Lloyd’s Chief Risk Officer, Annette Andrews departs
18th September 2019
Lloyd's of London, the specialist insurance and reinsurance marketplace, has confirmed the appointment of David Sansom as Chief Risk Officer (CRO), subject to regulatory approval. In his new role, Sansom's remit includes all areas of risk management within Lloyd's, and also oversight for market-level risks. Sansom was formerly Director of Financial Services ... Read the full article
Lloyd’s reports £2.3bn H1 profit, but underwriting contribution minimal
18th September 2019
The Lloyd's of London insurance and reinsurance marketplace reported a £2.3 billion profit before tax for the first-half of 2019, but the investment return drove all of that as underwriting again failed to deliver and actually declined in the period. CEO John Neal cited an improving underwriting outlook, as attritional losses ... Read the full article
Lloyd’s performance pressured, but corrective underwriting actions will help: Fitch
9th September 2019
The Lloyd’s of London insurance and reinsurance market remains under pressure as its underwriting performance has not lived up to expectations, but Fitch Ratings believes corrective actions taken will help. Speaking with Reinsurance News, Director of Insurance at Fitch Ratings Chris Grimes explained why the rating agency maintains a negative outlook ... Read the full article
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