Lloyd’s News

3 New Members Elected to the Council of Lloyd’s

Lloyd’s have confirmed the election of three new members to the Council of Lloyd’s. Julian James and Neil Maidment were elected following a vote of working members of the Society of Lloyd’s and will serve a three year term. Philip …

Sompo Canopius Announces a Simplified Organizational Structure

Sompo Canopius AG has announced a number of changes to its organizational structure. The company is simplifying its underwriting management and structure to enhance cohesiveness and focus on profitability across the group. It is also making some changes to its …

CFC Underwriting, London-Based MGA, Expands Transaction Liability Team

London-based CFC Underwriting has added two new underwriters to its growing transaction liability team. This follows last year’s appointment of Matthew Giddings to drive the development of a new line of business for the specialist lines underwriting agency. Naomi Collins joins …

Aon Launches Lloyd’s Lead Facility for U.S. Casualty Risks

Aon plc has launched Lloyd’s Lead Excess Aon Facility (Lloyd’s LEAF), a program that increases placement options for Aon’s U.S. clients facing global casualty risks while delivering greater contract certainty and claims efficiencies via the Lloyd’s Claims scheme. Lloyd’s LEAF …

Beazley’s ROE of 19% Will Be ‘Difficult’ to Sustain in Current Market: CEO Horton

Beazley Plc Chief Executive Officer Andrew Horton said the company’s return on equity of 19 percent in 2015 isn’t sustainable against a backdrop of increased competition and falling insurance rates. “Margins are bound to come under pressure,” the CEO said in …

Cobalt, Chaucer Offer 1st Lloyd’s Shariah Compliant Political Violence Cover

Shariah compliant managing general agent Cobalt Underwriting has launched a new political violence product backed by Chaucer. Cobalt, the London market’s only Shariah compliant underwriting agency, will offer the product with Lloyd’s capacity provided by Syndicate 2084, the Shariah compliant …

Mitsui Sumitomo Insurance Completes Acquisition of ‘MS Amlin’

Lloyd’s of London insurer Amlin plc announced the completion of its acquisition by Mitsui Sumitomo Insurance Co. Ltd., a wholly owned subsidiary of MS&AD Insurance Group Holdings Inc., following receipt of regulatory and legal approvals. MSI has acquired the entire …

Lloyd’s Open Broker Sessions in Singapore Designed to Speed Placement Process

Lloyd’s has started holding open trading sessions at its Singapore hub, which are designed to speed up insurance placements. The sessions enable brokers to see multiple markets at one time and provide faster turnaround times as quotes are given, lines …

Lloyd’s Underwriter Marketform Appoints Murru as Financial Lines Underwriter

Specialist Lloyd’s underwriter Marketform, which operates Syndicate 2468 at Lloyd’s, announced that Roberto Murru joined the company as an underwriter in its growing financial lines team led by Ian West. Fluent in Italian, Murru began his insurance career in 1985 …

U.S. Utilities Examine Their Insurance Protection After Ukraine Grid Cyber Attack

U.S. utilities are looking hard at their cyber vulnerabilities and whether they can get insurance to cover what could be a multi-billion dollar loss after hackers cut electric power to more than 80,000 Ukrainians last month. The Dec. 23 incident …