Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
AXA XL Forms New Leadership Team, Aims to Restructure with Regional Business Units
Apr 21 2020 // AXA XL announced a new leadership team and proposed changes to the operating model of its Insurance business following a strategic review. Key proposed changes to the operating model include the creation of a single global...
Lloyd’s Gathers Business Interruption Data for UK Regulator
Apr 20 2020 // Lloyd’s of London is collating details of insurers’ business interruption coverage for the Prudential Regulation Authority and is in discussions about a government backstop to cover future pandemics, it said in...
Sompo Int’l to Exit Lloyd’s, Writing New Business from London Company Market Platform
Apr 15 2020 // Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that as part of the ongoing transformation of Sompo International, the insurer will be...
Lloyd’s Picks 12 Insurtech Startups for Next Cohort of Its Innovation Lab
Apr 9 2020 // Lloyd’s has selected 12 insurtech startups to participate in its innovation accelerator, Lloyd’s Lab. The 12 teams were chosen out of more than 190 applications, received from across the world, for the fourth...
Lloyd’s Returns to Profit; ‘Strong Position’ to Respond to COVID-19
Apr 6 2020 // While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also affirmed that the market is in a strong position to respond to the impacts of COVID-19. Lloyd’s return to profit was...
COVID-19 Claims to Hit Lloyd’s on Multiple Lines, Says CEO Neal
Apr 6 2020 // Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a media call to discuss the market’s 2019 results. Neal said it is too...
This Insurance Would Have Helped in Coronavirus Crisis But Nobody Bought It
Apr 3 2020 // Like everyone else, Peter Lacovara is coping with COVID-19, working at home to limit contagion to the coronavirus and stay healthy. He’s also plugging away trying to keep businesses healthy, as well. In his role as a...
Fitch Places Lloyd’s of London’s on Rating Watch Negative on COVID-19 Crisis
Apr 3 2020 // Fitch Ratings has placed Lloyd’s of London’s ‘AA-‘ Insurer Financial Strength (IFS) ratings on rating watch negative, on the uncertainty and increased risk to Lloyd’s earnings and underwriting...
Aon Enhances Reinsurer E-Trading Portal to Support Remote Working During Pandemic
Apr 2 2020 // Aon plc, the global re/insurance broker, has enhanced its reinsurer trading portal, ABConnect Placements, to electronically bind treaty placements with Lloyd’s of London and International Underwriting Association...
Insurers Worry About D&O Claims Against Executives From Coronavirus
Apr 2 2020 // Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies which protect the bosses,...
How Coronavirus Crisis Has Changed Underwriting at Lloyd’s of London
Mar 30 2020 // Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they...
Lloyd’s Faces COVID-19 Claims from Multiple Insurance Lines, Says CEO Neal
Mar 27 2020 // Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a media call to discuss the market’s 2019 results. Neal said it is too...
Blenheim Gets Initial Approval from Lloyd’s to Launch New Managing Agency
Mar 27 2020 // Blenheim Underwriting announced it has been granted “approval in principle” by the Lloyd’s board to establish a new managing agency. Blenheim said it can now submit an application to the Prudential...
Former Lloyd’s CEO Beale to Become Chair of South Africa’s Mediclinic
Mar 27 2020 // Mediclinic International Plc has appointed former chief executive of Lloyd’s of London, Inga Beale, as an independent non-executive director and its next chairwoman, the company said on Friday. Beale will succeed...
Lloyd’s Returns to Profit, Says in ‘Strong Position’ to Respond to COVID-19
Mar 26 2020 // While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also affirmed that the market is in a strong position to respond to the impacts of COVID-19. Lloyd’s return to profit was...
Casino Gambles on Coronavirus Business Interruption Lawsuit Against Lloyd’s, AIG, XL
Mar 24 2020 // A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are covered by insurance. Among...
Commentary: Does Business Income Insurance Cover Coronavirus Shutdowns?
Mar 24 2020 // On March 16, a lawsuit was filed in district court in New Orleans seeking a declaratory judgment about whether the business income coverage in a Lloyd’s property policy would cover a government-mandated shutdown or...
Restaurant Suit Tests Business Interruption Insurance for Coronavirus Shutdowns
Mar 19 2020 // A restaurant in the heart of the New Orleans tourism district filed a lawsuit on Monday asking a state judge for a declaratory judgment that its business-interruption policy will cover its damages if it is ordered to close...
Lloyd’s Closes London Underwriting Room in Response to Coronavirus Crisis
Mar 19 2020 // After conducting a successful stress-test last week of its electronic trading system, Lloyd’s has made the decision to close its underwriting room in response to the coronavirus outbreak. As a result, market insurers...
Lloyd’s Asks Market Insurers to Provide Estimates for Coronavirus Losses
Mar 18 2020 // Lloyd’s of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand its possible...
