Lloyd’s News

Lloyd’s Market Urged to Use Oasis Open-Source Cat Models for Wider Risk View

Lloyd’s managing agents should take full advantage of Oasis, the open source catastrophe modeling platform, in order to get wider views on catastrophe risks, urged Tom Bolt, Lloyd’s director of performance management. “Catastrophe models are valuable tools, but each model …

Global Risk Partners Backs LONMAR’s MBO, Supporting Its Growth Strategy

Global Risk Partners, the acquisitive insurance broking and managing general agency (MGA) investment vehicle, has agreed to back the management buyout of LONMAR GLOBAL RISKS, the specialist Lloyd’s broker. The transaction is subject to regulatory approval. LONMAR’s management team, led …

AmTrust Seeks to Boost Lloyd’s Presence with Purchase of Specialty Insurer ANV

AmTrust Financial Services said it has agreed to buy specialty insurance company ANV Holdings B.V. and its Lloyd’s affiliates for $218.7 million in cash. The seller is the Ontario Teachers’ Pension Plan. As part of the acquisition deal, AmTrust said …

AXA & Chaucer Form Strategic Partnership to Provide African Specialty Insurance

AXA is targeting the rapidly expanding market for African specialty insurance by partnering with Chaucer, a Lloyd’s specialty insurance group. The new venture, called “AXA Africa Specialty Risks,” will be dedicated to covering specialty insurance lines in Africa, with a …

Hearn of CGSC to Become CEO of Lloyd’s Broker CGNMB After Newman Retires

CGNMB LLP, the London-based Lloyd’s broker, announced that Gordon Newman will retire from his role as CEO on April 20. Subject to regulatory approvals, his role and responsibilities will be assumed by Steve Hearn, CEO of Cooper Gay Swett & …

Hamilton Underwriting at Lloyd’s Names Prince as Head of Professional Indemnity

Hamilton Underwriting Ltd., the managing agency of Lloyd’s Syndicate 3334 and the Lloyd’s operations of Bermuda-based Hamilton Insurance Group, announced that Daniel Prince has been hired as head of Professional Indemnity. Reporting to deputy active underwriter and head of Professional …

Low Interest Rates, Soft Market Pricing Hit London Market Insurers: Fitch

The negative impact of low interest rates and soft market pricing on London market insurers has been partially offset by low levels of large claims, according to Fitch Ratings in a special report. London market insurers tend to hold a …

Skuld Lloyd’s Syndicate 1897 Appoints 2 Marine Hull Underwriters

Skuld, the Oslo, Norway-based marine insurance provider, announced the recruitment of Paul Fry and Sarah Wilson to Skuld’s Lloyd’s Syndicate 1897, the specialist marine and energy syndicate. Fry joins as deputy active underwriter and class underwriter for hull, and Wilson …

Hamilton Underwriting Names Osorio as Head of Property Direct & Facultative

Hamilton Underwriting Ltd., the managing agency of Lloyd’s Syndicate 3334 and the Lloyd’s operations of Hamilton Insurance Group, announced today that Miles Osorio has been hired as head of Property Direct & Facultative (D&F). Reporting to Active Underwriter Trevor Carvey, Osorio will be …

Beazley & Munich Re to Offer Broad Cyber Cover for Large Global Companies

Beazley, a pioneer in data breach response insurance and the largest insurer of cyber liability risks in the Lloyd’s market, has partnered with the Corporate Insurance Partner unit of Munich Re to offer broad protection for the digital assets and …