Lloyd’s CEO Inga Beale News

Lloyd’s Performance Management Director, Bolt, to Leave Corporation Next Year

Lloyd’s of London announced its director of performance management, Tom Bolt, has decided to leave the corporation in mid-2016, after almost seven years of front line service. Bolt was appointed in September 2009, and is a member of Lloyd’s executive …

Lloyd’s China, Tokio Marine Kiln & PICC Sign Intellectual Property Liability Deal

Lloyd’s China, Tokio Marine Kiln and People’s Insurance Company of China Property and Casualty Company (PICC P&C) signed a memorandum of understanding (MoU) to provide intellectual property infringement liability insurance in China. Signed on Oct. 29 at PICC’s head office in …

Lloyd’s City Risk Index Shows $4.6 Trillion GDP at Risk in 301 Cities

The first-ever Lloyd’s City Risk Index, which analyzes the economic output at risk (GDP at risk) in 301 major cities from 18 manmade and natural threats over a 10-year period, concludes that a total of $4.6 trillion of projected GDP …

Beazley CEO Calls on Lloyd’s to Overhaul Data Systems

Beazley Plc CEO Andrew Horton called on Lloyd’s of London to overhaul the way it manages trade information to make the world’s oldest insurance market more efficient and globally competitive. “The transfer of data in the market has got to …

Reports Show Insurers Lag Behind in Adopting Technology

At a time when the financial sector is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind. Some insurers are using developments such as telematics, or social …

Lloyd’s Appoints Parry as New Director of Finance

The Council of Lloyd’s has appointed John Parry as Lloyd’s Director of Finance with immediate effect. He will also become a member of the Lloyd’s Franchise Board. Parry has been acting Director of Finance since July and, following a competitive …

Lloyd’s CEO Expects Cyber Insurance Surge

Lloyd’s of London Chief Executive Officer Inga Beale expects the market for cyber insurance to surge after hackers attacked some of the largest companies in the U.S., including JPMorgan Chase & Co. and Home Depot Inc. Beale, who took over …

Lloyd’s Posts First-Half Profits of $2.72 Billion

Lloyd’s reported a profit of £1.67 billion {$2.7218 billion] for the first six months of 2014, marking a 21 percent increase on the corresponding period last year. The announcement said that “while these results show an improvement over the equivalent …

Savage to Leave; Lloyd’s Announces Changes in Finance, Operations

Luke Savage, who has been Lloyd’s Director of Finance and Operations for ten years, will be stepping down from Lloyd’s later this summer, to become Chief Financial Officer of Standard Life. In connection with his departure Lloyd’s said it would …

Lloyd’s Profits for 2013 Near $5.3 Billion

Lloyd’s announced a profit of £3.2 billion [$5.2894 billion] for 2013, compared to a profit of £2.8 billion [$4.628 billion] in 2012. Gross written premium income increased to £26.1 billion [$43.14 billion]. Lloyd’s also noted that its capital position further …