Lloyd’s News

Paris Terror Attacks Not Unexpected; Demand for Political Risk Cover Is Up

Terrorism, security and political risk experts from Willis provided some broad observations about last week’s terror attacks in Paris and how insurance buyers are responding. “The tragic events in Paris are a continuation of a pattern that has been proliferating …

How One Broker, CGSC, Is Navigating Stages of Entrepreneurial Business

Entrepreneurial organizations go through stages of growth, says the chief executive of one of the world’s largest wholesale insurance and reinsurance brokerages. Toby Esser, CEO of Cooper Gay Swett & Crawford (CGSC), says his company went through many transitions in …

China Re to Underwrite at Lloyd’s, Syndicate to Be Managed by Catlin

China Reinsurance (Group) Corporation has received approval from Lloyd’s to transform its existing special purpose syndicate into a stand-alone syndicate that will underwrite a diversified book of business, initially focusing on reinsurance, incepting from January 1, 2015. The China Re …

Hamilton Insurance Plans to Acquire Sportscover Underwriting at Lloyd’s

Hamilton Insurance Group, the Bermuda-based holding company for property-casualty reinsurer Hamilton Re and insurer Hamilton USA, announced it has entered into a share purchase agreement to acquire Sportscover Underwriting Limited, a Lloyd’s managing agent which manages Syndicate 3334, and Kinetic …

Lloyd’s, Specialty Insurance Advisors Offer Ebola Coverage for First Responders

Lloyd’s of London is offering Ebola coverage for first responders through its U.S. distributor, Specialty Insurance Advisors, as an added benefit to its pre-existing Needle Stick and Workplace Violence coverage. The cover will protect healthcare and law enforcement workers in …

Hardy Promotes Wright in Asia; Hires Bond and Osorio in London

Hardy Underwriting Asia Pte Ltd (Hardy Asia), a subsidiary of CNA Financial Corporation, has promoted Chris Wright as director and principal officer for Hardy Asia. (Hardy is a specialist underwriting business operating within Lloyd’s of London.) In this role, Chris will …

Litmus: More Bearish Ratings Expected for Reinsurance Sector

Since January the rating agencies have become increasingly negative on their outlook for ratings in the  reinsurance sector overall, while in practice affirming or even increasing individual reinsurer* ratings. Standard and Poor’s move to take Lloyd’s rating outlook down from …

P/C Insurers Rush to Meet Rising Demand for Cyber Insurance

Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that’s been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this year from about …

Northeast National Brokerage Offers Underwriting Facility for Petro Industry

Wholesale broker Northeast National Brokerage LLC has launched an underwriting facility, registered at Lloyd’s, that specializes in excess liability for the petroleum distribution industry. Available across the continental United States, the program offers $5 million in capacity for both lead …

A.M. Best Affirms Rating of Kiln Syndicate 510

A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 510 (United Kingdom), which is managed by RJ Kiln & Co. Limited (RJ Kiln). The outlook for both ratings …