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.
AIG leads launch of new reinsurance syndicate at Lloyd’s
13th December 2024
Global insurance firm American International Group, Inc (AIG) has led the launch of a new reinsurance syndicate at the specialist Lloyd's marketplace, which will be a multi-year participant on the firm's outwards reinsurance program. Syndicate 2478 will commence underwriting from January 1st, 2025, and will be managed by Talbot Underwriting Limited ... Read the full article
Lloyd’s to set benchmark for regulatory competitiveness: LMA
13th December 2024
According to Paul Davenport, Finance & Risk Director at the Lloyd’s Market Association (LMA), the Lloyd's Market has made notable progress towards its objectives of reducing the burden of compliance with financial reporting for participating, particularly towards plans to reduce the volume and frequency of reporting for technical provisions and ... Read the full article
Lloyd’s expected to maintain strong earnings over 2025, says Moody’s
12th December 2024
Lloyd's of London is expected to continue producing strong earnings and capital over the next 12-18 months, due to underwriting discipline, favourable market conditions and robust investment returns, according to Moody's Ratings. However, analysts have warned that its profitability could wind up falling short of the strong results seen in 2023 and ... Read the full article
Future pandemic could cost global economy $13.6trn: Lloyd’s
11th December 2024
The global economy could be exposed to potential losses of $13.6 trillion over a five-year period from the threat of a hypothetical future human pandemic, according to systemic risk scenario research from Lloyd's. Produced in partnership with the Cambridge Centre for Risk Studies, this research is designed to provide risk managers, ... Read the full article
LK Re Singapore named UK Lloyd’s broker
6th December 2024
LK Re, a specialist in reinsurance brokerage and Singapore subsidiary of LK Insurance Brokerage, has been selected as a registered broker by Lloyd’s in the UK. This move marks the first time that an overseas subsidiary established by a Korean insurance broker has been granted this status. LK Re's registration as a ... Read the full article
Vitesse continues US expansion with Vitesse Trust launch in New York
6th December 2024
Vitesse, a global treasury and payment provider for the insurance industry, has officially launched its United States operations with the establishment of New York-based Vitesse Trust Company, LLC. The New York State Department of Financial Services granted Vitesse an Authorization Certificate which made possible the formation of Vitesse Trust, which will ... Read the full article
ASR Syndicate 2454 to begin operating through its service company in Dubai
2nd December 2024
Africa Specialty Risks (ASR), an African and Middle Eastern re/insurance group, has confirmed that ASR Middle East has commenced operating as a Lloyd's service company, which allows it to underwrite in Dubai on behalf of ASR Syndicate 2454, the first African focused syndicate at Lloyd's. ASR Middle East particularly focuses on ... Read the full article
Rokstone acquires second box at Lloyd’s as expansion continues
2nd December 2024
International Speciality re/insurance MGA Rokstone, which is part of the Aventum Group, has acquired a second box at Lloyd’s, just six months after the announcement of its first. Rokstone has secured box 398a, alongside its existing box 398, on Gallery 3, underlining its dedication to the London market as a ... Read the full article
Rate momentum, adequacy and trading challenges bring caution to Lloyd’s market: Patrick Tiernan
28th November 2024
Speaking at the Lloyd's Q4 2024 Market Message, Patrick Tiernan, Chief of Markets, explained that whilst looking at the jump off point for 2025, he sees a "global specialty market that continues to experience favourable, if not, more competitive conditions." Tiernan stated that the risk environment remains elevated within Lloyd's core ... Read the full article
The re/insurance industry has to evolve and innovate faster than ever before: Lloyd’s CEO, Neal
28th November 2024
As the insurance and reinsurance industry continues to grow, the extensive risk landscape also continues to widen, with major risks stemming from key areas such as climate change and cyber, which according to John Neal, Chief Executive Officer (CEO) of Lloyd's, means that the industry has to evolve and innovate ... Read the full article
Abu Dhabi Re expands product suite
26th November 2024
Abu Dhabi Reinsurance Company (ADRe), a reinsurance service provider in the Abu Dhabi Global Markets platform, has announced the expansion of its product suite to include Commercial General Liability. From what Reinsurance News understands, the addition of Commercial General Liability builds on ADRe's existing lines of business, providing limits of up ... Read the full article
OAK Re Syndicate 2843 receives permission to underwrite from January
26th November 2024
Oak Reinsurance (OAK Re), the global reinsurance firm, has announced that its Lloyd’s Syndicate 2843 has received permission to underwrite business incepting from January 1, 2025, which follows from the approval in principle that was received in September 2024. According to the announcement, OAK Re is launching Syndicate 2843 in collaboration ... Read the full article
Helios expects value of the capacity fund to decrease to £75m at year-end 2024
18th November 2024
Lloyd's focused investment vehicle, Helios Underwriting, has updated the value of the company's value of capacity portfolio, now expecting to decrease to £75 million at 31st December 2024. Michael Wade, Chairman of Helios, commented: "The Freehold Capacity Portfolio has continued to deliver value to shareholders and we have realised £14m of ... Read the full article
Lloyd’s & ABI launch guide to help re/Insurers define major cyber events
7th November 2024
Recognising cyber as one of the most significant systemic and emerging risks, Lloyd’s and the Association of British Insurers (ABI) have jointly published a guide to help re/insurers define major events and identify key factors to consider. According to Lloyd's and the ABI, the dynamic nature of cyber threats necessitates ongoing ... Read the full article
Westfield Specialty secures Lloyd’s approval for £774m 2025 syndicate business forecast
7th November 2024
Westfield Specialty International, a global insurance provider, has received approval from Lloyd’s for its 2025 Syndicate Business Forecast, setting it at £774 million—a rise of £56 million, or 8%, over the 2024 forecast. Since acquiring the Syndicate in February 2023, Westfield has overseen steady growth, with expectations for further expansion as ... Read the full article
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