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.
SCOR consolidates London Market specialty insurance platform, names head
9th July 2018
SCOR Global P&C has revealed plans to consolidate its specialty insurance operations in the London Market into a single business platform, led by Stuart McMurdo, current Chief Executive Officer (CEO) of SCOR UK. SCOR says the new specialty insurance platform will offer either company or Lloyd’s paper or a combination of ... Read the full article
Inga Beale to depart Lloyd’s in 2019
29th June 2018
Inga Beale, the Chief Executive Officer (CEO) of the specialist Lloyd's of London insurance and reinsurance marketplace, is to step down from her position in 2019. Beale joined Lloyd's in 2014, and during the last five years showed a commitment to the transformation of the marketplace, which includes significant cultural change ... Read the full article
Modernisation and Brexit among top COO concerns, reports LMA
27th June 2018
Market modernisation, Brexit preparations, and underwriting systems upgrades are the three most pressing concerns for Lloyd’s market Chief Operating Officers (COOs) in 2018, according to a recent survey by the Lloyd’s Market Association (LMA). The LMA’s research found that, within market modernisation initiatives, COO’s prioritised delegated authority transformation, with 93% of ... Read the full article
Lloyd’s looking to ‘redefine’ tech use with new innovation lab partners
18th June 2018
Inga Beale, Chief Executive Officer (CEO) at Lloyd’s, has said that the company is looking to redefine the way it uses technology as it begins the process of searching for entrepreneurial start-ups to partner with its Innovation Lab, due to be launched later in 2018. Lloyd’s recently announced that it ... Read the full article
France to win 2018 World Cup based on insurable value, says Lloyd’s
14th June 2018
Of the £13 billion worth of footballing talent set to showcase throughout Russia during the FIFA World Cup, France has the most expensive team and therefore, according to Lloyds, will win the competition. Undertaken with the Centre for Economics and Business Research (Cebr), the research used players’ wages and endorsement incomes, ... Read the full article
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
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