Lloyd’s News

Lloyd’s Insurer ArgoGlobal Grabs O’Gorman from CNA to Lead Marine Team

ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the appointment of Steve O’Gorman as head of Marine, effective Aug. 22. He reports to Bruno Ritchie, director of underwriting and active underwriter. The former head of Marine, Philip Thorpe-Apps, …

ArgoGlobal Buys Renewal Rights to Allied World’s Marine Hull Business in Asia

ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced it has acquired the renewal rights for Allied World’s marine hull business in Asia. The transaction completed on August 5. “I am very pleased that we have reached an agreement …

ANV Global Services Raises Capacity for M&A Insurance

ANV Global Services Ltd, the international managing general underwriter (MGU) of global specialty insurance group ANV, has today announced an increase in its Lloyd’s underwriting capacity for mergers and acquisitions insurance. The line will now offer a limit of €40 …

Colorado-Based ICAT Partners with Neon for Additional Cat Capacity

Broomfield, Colo.-based ICAT has teamed up with Neon to provide an additional $10 million of per-risk capacity to catastrophe-exposed commercial properties in the U.S. The partnership expands ICAT’s per-risk catastrophe capacity to $150 million. ICAT’s focus is on helping homeowners …

Lloyd’s Has Potentially Large Exposure to Catastrophic Cyber Attack: Adsensa Review

A review of almost 400 reinsurance contracts underwritten at Lloyd’s of London has revealed potentially significant vulnerabilities and exposures if a catastrophic cyber attack should occur. Analysis of 392 property and casualty reinsurance policies underwritten by a trio of reinsurers …

Best Revises Lloyd’s Outlook to Stable from Positive on Difficult Business Conditions

A.M. Best has revised the outlooks to stable from positive of Lloyd’s and Lloyd’s Insurance Co. (China) Ltd., while at the same time affirming their financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a+”. In …

Brit Invests in South Africa’s Camargue Underwriting Managers

Brit Ltd., the global specialty insurer and reinsurer, announced it has made a significant strategic investment in Camargue Underwriting Managers, one of South Africa’s leading providers of specialized insurance products. Financial details of the transactions were not disclosed. “The investment …

Beazley to Get EU Licenses for Irish Reinsurance Business – After Brexit Vote

Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the bloc. Insurers are making contingency plans after …

Markel Leads Lloyd’s Livestock Consortium, Covering Up to $30M Per Location

Markel International, the London-based specialist insurer, has joined forces with Tokio Marine Kiln, Pembroke and AEGIS London to lead the Markel livestock consortium, offering cover of up to $30 million per location for livestock risks. The consortium offers larger single …

Tokio Marine Kiln Completes Integration by Restructuring Underwriting Divisions

Tokio Marine Kiln (TMK) has completed the final stage of its integration by restructuring its underwriting divisions along sector lines. The new structure will offer clients access to both Lloyd’s and company paper with underwriting divisions now capable of writing …