Lloyd’s News

CNA Hardy Names Neon’s Marriott as Head of Cargo, Lloyd’s

CNA Hardy, a specialist commercial insurance provider for clients within the Lloyd’s and company markets, announced the appointment of Alistair Marriott as head of Cargo for its Lloyd’s platform. Reporting to Carl Day, head of Energy and Marine, Marriott will …

Lloyd’s to Cut 10% of UK Employees on Soft Market Pricing Pressures

Lloyd’s of London is planning to cut 10 percent of its staff in the UK as the world’s oldest insurance market looks to streamline operations and reduce costs amid continued pricing pressure on its members. Lloyd’s plans to introduce a …

Existing EU Contracts Must Be ‘Grandfathered’ After Brexit to Avoid Complexity: Lloyd’s CEO Beale

Existing European Union insurance policies should stay in place after Britain leaves the bloc because the process of dividing them into British and EU contracts would be too complex, Lloyd’s of London Chief Executive Inga Beale said. The Lloyd’s of …

Randall & Quilter to Sell Lloyd’s Agency to Medical Liability Insurer Coverys

Randall & Quilter Investment Holdings Ltd. announced it has reached agreement to sell the entire share capital of its Lloyd’s managing agency, R&Q Managing Agency Ltd. (RQMA), to Coverys, a provider of medical professional liability insurance based in Boston, Mass. …

Lloyd’s Coverholder, Arma Underwriting, Launches in Dubai with MENA Focus

Asta, the Lloyd’s third party managing agent and specialist MGA investor, announced that Dubai-based Arma Underwriting Ltd. has received full approval from all regulators and commenced operations last month. Asta-backed Arma is an approved Lloyd’s coverholder that writes multi-line re/insurance …

Dale Underwriting Offers Contingency & Sports Personal Accident Cover; Syndicate Support Extended

Dale Underwriting Partners, managed by Lloyd’s third party managing agency Asta, announced the creation of a new contingency and sports personal accident business. The team will be led by Martin Lawson, who will be joined by Richard Appleton. Both are …

UK’s Legal & General Chooses Dublin as Post-Brexit Base for Some Operations

British insurer Legal & General said it will move some of its investment management operations to Ireland to ensure it can continue to serve its customers after Brexit. In a win for Dublin’s campaign to attract financial services firms in …

Lloyd’s Insurers Launch Asia Political Risk Consortium

Three Lloyd’s insurers have joined forces to form a Political Risk Consortium in Asia, offering increased capacity for a wide range of political and contract frustration risks. Beazley, Chaucer and Talbot will work collectively to provide large scale capacity of …

High-Profile Cyber Attacks Drive Growth of Cyber Crime Insurance

For companies and organizations, an attack by hackers can inflict financial losses, corporate embarrassment and legal action. For insurers jumping into the brave new world of cyber crime insurance, it’s free marketing for what could be a $10 billion opportunity. …

FM Global Chooses Luxembourg as Post-Brexit EU HQ

U.S. commercial property insurer FM Global is planning a European hub in Luxembourg following Britain’s decision to leave the bloc, the head of its European division told Reuters. The mutual insurer, which earned $5.5 billion in gross premium last year, …