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.
LMA announces the launch of its ESG Academy
20th September 2023
The Lloyd’s Market Association (LMA) has announced the launch of its Environmental, Social and Governance (ESG) Academy, designed for professionals within the Lloyd's market and the global re/insurance sector. With a comprehensive range of courses and resources, the Academy looks to equip professionals with the knowledge and tools necessary to navigate ... Read the full article
Lloyd’s considering expanding LCM 5 peak perils list: Tiernan
20th September 2023
The Lloyd's insurance and reinsurance market is considering expanding its list of the five main peak perils it considers in natural catastrophe exposure management, to include some of the so-called secondary perils that now have materiality to the market almost on the same scale. This is according to Patrick Tiernan, Chief ... Read the full article
Lloyd’s & Moody’s to develop emissions accounting solution through Lloyd’s Lab
14th September 2023
Lloyd’s has announced a collaboration with Moody’s Analytics to develop a solution that will help quantify greenhouse gas emissions across managing agents’ underwriting and investment portfolios. According to Lloyd's, the solution will aid managing agents in meeting expected regulatory reporting requirements. Under current frameworks like Streamlined Energy and Carbon Reporting (SECR), ... Read the full article
Ogier advises IFRC on launch of its new risk transfer mechanism
14th September 2023
Ogier's Banking and Finance team in Guernsey has advised the International Federation of Red Cross and Red Crescent Societies (IFRC) on the launch of its new risk transfer mechanism, which will "transform the organisation's approach to disaster response." Ogier provides legal advice on BVI, Cayman, Guernsey, Irish, Jersey and Luxembourg ... Read the full article
Investor sentiment for accessing Lloyd’s is really encouraging: Argenta
12th September 2023
A perfect storm of premium rating, investment earnings on premiums and reserves, as well as the impressive half-year performance of Lloyd’s, means investors are expecting good things from accessing the returns of the oldest insurance market in the world, according to Argenta Private Capital Limited (APCL). Reinsurance News spoke with Robert ... Read the full article
Lloyd’s reports improved underwriting profit of £2.5bn for H1 2023
7th September 2023
The marketplace for re/insurance, Lloyd’s, has reported a strong set of results for H1 2023, with an underwriting profit of £2.5 billion, a significant increase from H1 2022’s £1.2 billion. The strong underwriting result was driven by relatively lower major claims in the period, as the combined ratio improved by 6.2 ... Read the full article
Aon & Lloyd’s collaborate with IFRC to launch new disaster response risk transfer mechanism
6th September 2023
The International Federation of Red Cross and Red Crescent Societies (IFRC), in collaboration with Aon, Lloyd’s Disaster Risk Facility and the Centre for Disaster Protection, has announced the launch of a groundbreaking financial mechanism to transform disaster response. This tool provides a backstop for the IFRC's Disaster Response Emergency Fund (DREF). According ... Read the full article
Munich Re ranked largest reinsurer for third year running by AM Best
22nd August 2023
After taking the top spot from Swiss Re in 2020, the latest data from ratings agency AM Best confirms that German reinsurer Munich Re remains the world's largest reinsurance company when ranked by gross life and non-life premiums written in 2022. With reinsurance gross premiums written (GPW) of ... Read the full article
Latin Re obtains license to operate directly at Lloyd’s
21st August 2023
Latin Re, an independent brokerage founded in 2019, becomes the first Brazilian broker to obtain a license to operate directly at the specialist Lloyd's insurance and reinsurance marketplace. Operating directly at Lloyd's allows Latin Re to sell reinsurance risks from across Latin America directly to London underwriters. This market opening brings ... Read the full article
Lloyd’s leads re/insurers tightening Taiwan cover as conflict risks increase
10th August 2023
According to a recent Reuters report, Lloyd's of London underwriters are leading insurers in increasing rates and cutting coverage for risks involving Taiwan as "concerns grow over possible military action by China." "Availability of cover for Taiwan has got tighter," Crispin Hodges, head of trade and political risk with insurer Canopius, ... Read the full article
Lloyd’s General Counsel Peter Spires to step down
9th August 2023
Lloyd's, the global insurance and reinsurance marketplace, has announced that Peter Spires has decided to step down as General Counsel to pursue new challenges in the Lloyd’s market. Spires joined Lloyd’s in 1995 and spent the early years of his career at Lloyd’s focused on Reconstruction and Renewal and then the ... Read the full article
Lloyd’s closes down Austria, Finland, and Poland branch offices
1st August 2023
Lloyd’s Insurance Company S.A. (Lloyd’s Europe) announced that it will close down European branch offices in Austria, Finland, and Poland, effective from July 31, 2023. Instead, the company said it will only provide services to these locations, but just without a formal office in each location. "...it will no longer provide non-life ... Read the full article
AM Best revises outlook to positive for Lloyd’s and Subsidiaries’ Credit Ratings
28th July 2023
AM Best has announced a positive revision in the outlooks and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) for Lloyd’s, its subsidiaries, and Society of Lloyd’s. The positive outlooks come as a result of actions taken to bolster Lloyd’s ... Read the full article
Wildfire Defense Syndicate 1996 receives Lloyd’s approval
24th July 2023
Lloyd’s has approved the Wildfire Defense Syndicate 1996, a syndicate in a box (SIAB) targeting California-exposed commercial property risks in the excess and surplus (E&S) market. The syndicate, developed by Lloyd’s coverholder Wildfire Defense Systems (WDS) in collaboration with re/insurance broker Aon and Polo Managing Agency Limited (PMA), started underwriting on ... Read the full article
Lloyd’s performance & capital strong, market positioned to meet challenges: Aon
18th July 2023
"Lloyd’s performance and capital are strong, positioning the market to meet the challenges of an ever more complicated global risk environment... A healthy marketplace is critical to enabling innovation and meeting clients’ complex needs," suggests Rupert Moore, UK CEO, Reinsurance Solutions, Aon. Moore's comments stem from a new Aon report on ... Read the full article