Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
National Indemnity Commits $72 Million to Lloyd’s Euclidian
Jul 4 2002 // National Indemnity, a subsidiary of Berkshire Hathaway, has concluded an agreement with Lloyd’s Euclidian Syndicate 1243 to provide £ 50 million ($76 million) in financing on a whole account qualified quota share...
National Indemnity Commits $72 Million to Lloyd’s Euclidian
Jul 4 2002 // National Indemnity, a subsidiary of Berkshire Hathaway, has concluded an agreement with Lloyd’s Euclidian Syndicate 1243 to provide £ 50 million ($76 million) in financing on a whole account qualified quota share...
Lloyd’s Panel Cites Information Flow As Biggest Challenge
Jun 26 2002 // The hard market is having a serious effect on information processing according to a panel of experts established to discuss market conditions by Lloyd’s. Lloyd’s announcement indicated that a number of...
Lloyd’s Sponsored Report Faults Risk-Averse Culture
Jun 19 2002 // A major study by U.K. think-tank Global Futures, sponsored by Lloyd’s of London and the Association of Insurance and Risk Managers (AIRMIC), suggests that following the Sept. 11 attacks a “risk-averse”...
Lloyd’s Selects Lord Levene as New Chairman
Jun 13 2002 // For the first time in over 300 years Lloyd’s of London will be headed by a Chairman from outside the London Insurance Market, as the Council of Lloyd’s announced the selection of Lord Peter Levene of Portsoken,...
Lloyd’s Sees Costs of Risks Continuing to Rise
Jun 10 2002 // Julian James, Director of Worldwide Markets at Lloyd’s, in a speech given last week to business leaders in Singapore and Hong Kong, stated that the costs of risk are continuing to rise. James, attributed the rise in...
Lloyd’s, London Brokers Set Up Benchmark Program
May 22 2002 // Lloyd’s and the London Market Insurance Brokers’ Committee (LMBC) announced that they have jointly established a new benchmarking program for the London Insurance Market. The program will allow insurers and...
CORRECTION: Lloyd’s SP Rating is Single ‘A’
May 16 2002 // The title of the May 14th article concerning Standard & Poor’s removal of the Lloyd’s market from CreditWatch incorrectly had a dash/minus symbol attached to the ‘A’ rating. This was an error...
S&P Removes Lloyd’s from CreditWatch, Affirms ‘A’ Rating
May 14 2002 // Standard & Poor’s announced that it has removed the Lloyd’s insurance market from CreditWatch, where it was placed on Sept. 20, 2001, and has affirmed its single-‘A’ insurer financial strength...
Lloyd’s Change to Annual Accounting Results in $4.5 Billion Loss Estimate
May 13 2002 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
Lloyd’s Rating Maintained
May 13 2002 // A.M. Best Co. maintained the “A-” (Excellent) financial strength rating of the Lloyd’s market after the recent announcement of a 2001 loss of GBP 3.11 billion, on an annually accounted basis. To date,...
Lloyd’s Change to Annual Accounting Results in $4.5 Billion Loss Estimate
May 13 2002 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
Lloyd’s to Reexamine Names Buy Out Plan
May 9 2002 // When Lloyd’s Chairman Sax Riley first announced wide ranging plans to reform the 300-year old institution, easing out the remaining individual “Names” was one of the most radical, and controversial,...
W.R.Berkley Confirms Increased Stake in Lloyd’s Kiln
May 3 2002 // Confirming earlier reports (See IJ Website April 26), Connecticut-based W. R. Berkley Corp. announced that it has agreed to increase its ownership in U.K.-based Kiln plc, a leading Lloyd’s insurer, to 20.1...
Lloyd’s Riley Urges Passage of Terrorist Insurance Bill
May 2 2002 // Following recent meetings with policy makers in Washington D.C., Lloyd’s Chairman Sax Riley issued a statement urging U.S. lawmakers to pass the stalled terrorist coverage bill. “Lloyd’s was one of the...
Michael Wade’s Appointment as Brit Director May Signal Consolidations at Lloyd’s
Apr 30 2002 // According to a report in London’s Financial Times the appointment of Michael Wade, the CEO of Rostrum, an investment management group, as a director of Brit Insurance may be a signal that further consolidation in the...
W.R. Berkley to Acquire 20% Stake in Lloyd’s Market Insurer Kiln
Apr 26 2002 // W.R. Berkley will up its share in Lloyd’s insurer Kiln to 20 percent by acquiring 32.8 million newly offered shares in the company at 47 pence (68 cents) and the acceptance of a two-for-three rights issue at the same...
A.M. Best Affirms Lloyd’s ‘A- (Excellent)’ Rating
Apr 23 2002 // A.M. Best announced that it has maintained the A- (Excellent) financial strength rating of the Lloyd’s market “after the recent announcement of a 2001 loss of GBP 3.11 billion [$4.5 billion], on an annually...
U.S. Regulators Give Approval on Lloyd’s Estimate
Apr 18 2002 // Following the initial portion of a review of the market, U.S. regulators have given Lloyd’s of London approval on the company’s estimate of $8 billion for gross claims in the Sept. 11 destruction of the World...
Lloyd’s Change to Annual Accounting Creates $4.45 Billion Loss Estimate for 2001
Apr 11 2002 // Lloyd’s decision to begin reporting the profits and losses of its syndicates on an annual basis, rather than over three years, produced some costly results, with last year’s losses estimated at £3.11...
