Lloyd’s of London News

Best Affirms Lloyd’s, Lloyd’s (China) Ratings; Outlook Positive

A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of Lloyd’s and Lloyd’s Insurance Company (China) Limited (LICCL) (China). Best also affirmed the ICR of “a” of Society of Lloyd’s …

CGS&C’s New MGA Targets U.S. Healthcare Industry with Lloyd’s

Wholesale insurance broker Cooper Gay Swett & Crawford (CGSC) has launched an underwriting management agency specializing in the healthcare industry. The new venture, Pro-Praxis Insurance, will be led by Robert Allen who has 25 years of experience in the industry, …

Report: NYRR Received $15M for Cancelled NYC Marathon in 2012

The New York Road Runners (NYRR), a nonprofit group that organizes the annual New York City Marathon, received $15 million in insurance proceeds from Lloyd’s of London for the cancelled New York City marathon in 2012, according to a report …

Ryan Specialty Group Announces Landmark Healthcare Partnership With Lloyd’s Underwriters

Chicago, IL – 6/17/14 – Ryan Specialty Group, LLC (RSG) announces the formation of RSGUM Healthcare, a new healthcare and life science underwriting facility, in partnership with some of the strongest and most experienced healthcare and life science Underwriters at …

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 U.S. Chief on Board with Climate Change

Despite risking offense to non-believers, Hank Watkins didn’t hesitate when he was asked if climate change was upon us. Watkins, president of Lloyd’s America, talked about an extensive report Lloyd’s of London just released, “Catastrophe Modeling and Climate Change.” “Everybody …

London-Based MGA Nexus Forms New Specialist Product Line

The London-based Nexus Group, a Managing General Agency (MGA) announced the formation of a new specialist product line covering a wide range of accident, sickness and travel insurance, written on a direct and facultative basis, up to an Event Aggregate …

Aon Touts Sidecar with Berskhire Hathaway That Was Criticized by Lloyd’s

Aon Plc, the broker that was criticized by Lloyd’s of London for a deal with Warren Buffett’s Berkshire Hathaway Inc., said the relationship actually helps make the U.K. insurance market more attractive. “It has reinforced the value proposition of London,” …

Stolen Marquis de Sade’s Sex Manuscript, Insured by Lloyd’s, Returns to Paris

The Marquis de Sade’s scandalous and sexually graphic novel “120 Days of Sodom” has come back home. Written in prison in 1785 — just before the French Revolution — and described by the Marquis himself as “the most impure tale …

Lloyd’s ‘Stands Ready’ to Pay Claims from Malaysian Airlines Flight 370

Lloyd’s of London, the world’s oldest insurance market, has said it stands ready to pay out claims arising from the presumed loss of Malaysian Airlines Flight 370, even as searchers continue to scour the Indian Ocean for wreckage. It’s still …