Lloyd’s News

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 …

Corporation of Lloyd’s Bans Booze During Work Hours 

Once part of the London/Lloyd’s market culture, the days of liquid lunches have mostly disappeared with many companies requiring that their employees abstain during work hours. The Corporation of Lloyd’s, which oversees and supports the businesses operating in the Lloyd’s …

Talbot Launches Enhanced Terror Facilities for Singapore, LatAm, Dubai

Talbot Underwriting Ltd., a wholly owned subsidiary of Validus Holdings Ltd., announced the launch of three enhanced Lloyd’s-led terror facilities in the Singapore, Latin American and Dubai markets. In response to the increasing demand for this distinctive coverage, these facilities …

PwC Appoints Delbridge as London Market Insurance leader

Paul Delbridge has taken on the role of London market insurance leader at PwC. Delbridge is a partner with 30 years’ experience at the firm, including three years in New York, almost all of which has been spent in the …

Cat Simulations Test London Insurers’ Vulnerabilities to Next ‘Big One’

A major $200 billion loss from a combination of a cyber attack, U.S. hurricane and the failure of a reinsurer could strip insurers of up to 120 percent of their net capital base, tests of insurers in London showed. However, capital-raising or asset …

Brit Launches Lutine Yacht Consortium with Capacity of $250M

Brit Ltd., the London-based specialty insurer, announced the launch of a new Lloyd’s consortium for yachts, called the Lutine Yacht Consortium. The consortium has a capacity of $250 million, offering 100 percent Lloyd’s security to insure motor and sailing vessels valued …

W.R. Berkley Suspends Marine Underwriting in London: Sources

W.R. Berkley has put under review and is suspending underwriting for its London marine book until it can determine the direction of this business going forward, Insurance Journal can reveal. W/R/B Underwriting, the company’s Lloyd’s managing agent, is suspending its $30 …

Brexit Cost Implications to Weigh on UK Re/Insurers: A.M. Best Report

The cost implications of the loss of passporting rights after the UK exits the European Union will weigh on re/insurers, as will any resultant economic downturn. However, A.M. Best does not anticipate taking any rating actions as a result of …

Lloyd’s to Open India Branch Ahead of April Renewals

Lloyd’s, the specialist insurance and reinsurance market, announced plans to open a reinsurance branch in India, in time for the April major reinsurance renewals, following final regulatory approval from the Insurance Regulatory Development Authority of India (IRDAI). This will enable …

Lloyd’s Moves Closer to Forming EU Subsidiary to Prepare for Brexit

Lloyd’s of London will make an announcement on its new European subsidiary by the middle of April at the latest, its Chairman John Nelson said on Tuesday, as it prepares for Britain’s exit from the European Union. The world’s largest …