Lloyd’s News

RSA Begins Trading on London Market Placing Platform, PPL

International insurer RSA has begun trading on the London insurance market’s electronic placing platform, PPL (Placing Platform Ltd.), which enables brokers and underwriters to quote, negotiate, bind and endorse business using one market-wide system. RSA’s Profin underwriting team is now …

Liability Risk Modeling Tool Launched by Lloyd’s and AIR’s Arium

Lloyd’s and modeling company Arium have launched a tool designed to enable insurers and reinsurers to model liability exposure probabilistically across their entire portfolios, Lloyd’s announced. “The new approach categorizes casualty events based on a company’s business activities – its …

Munich Re Syndicate’s Hoare Elected to Council of Lloyd’s

Dominick Hoare, chief underwriting officer for Munich Re Syndicate Ltd., was elected this week to the position of corporate-external member to the Council of Lloyd’s, which is the body responsible for the supervision of the Lloyd’s market. Hoare represents Munich Re …

London Market’s Placing Platform, PPL, Expands Offering with Marine Lines

PPL, the London market’s electronic placing platform, announced that marine business is now available to be bound on the PPL platform. The platform began trading stand-alone terrorism risks in July 2016, and now writes political violence, financial and professional lines, …

EU Nations May Be Competing ‘Unfairly’ to Attract UK Finance Firms After Brexit

The European Union’s market watchdog is investigating ways to stop national regulators competing unfairly with each other as they try to attract firms from Britain after Brexit in a beauty parade of financial centers. The European Securities and Markets Authority …

Asta Invests in London & Dubai Reinsurance MGA, Arma Underwriting

Asta, the London-based Lloyd’s third party managing agent and specialist MGA investor, announced it has agreed to invest in the development of Arma Underwriting Ltd. Asta will take a minority equity stake in Arma and will also support the company’s infrastructure including finance and IT. Arma received “in principle” approval from the Dubai Financial Services Authority on Feb. 19, and …

UK P&I Clubs Consider Opening EU Outposts in Preparation for Brexit

U.K.-regulated ship insurers are preparing plans to open new outposts in European Union jurisdictions such as Luxembourg and Cyprus, fearing that Brexit will hinder access to the EU’s financial market, industry sources involved say. Britain dominates the global marine insurance market and …

The Hanover Appoints Fowle as CEO of Chaucer Syndicates, Succeeding Slabbert

The Hanover Insurance Group Inc. announced that John Fowle has been promoted to chief executive officer of Chaucer Syndicates Ltd. Fowle is replacing Johan Slabbert, who is leaving the company to pursue other opportunities. Fowle has held key leadership roles at Chaucer since …

Carnegie-Brown Appointed as Next Lloyd’s Chairman

Bruce Carnegie-Brown will become the chairman of Lloyd’s following a meeting of the Council of Lloyd’s where his appointment as successor to John Nelson was approved unanimously. His appointment also was unanimously supported by the Lloyd’s Franchise Board. The council, …

Carnegie-Brown to Become Chairman of Lloyd’s, Succeeding Nelson: Sources

Bruce Carnegie-Brown, former CEO of Marsh Europe and non-executive chairman of Aon UK, will shortly be named the new chairman of Lloyd’s, succeeding John Nelson who had announced in 2015 that he would retire this year at the age of …