Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Marsh McLennan, Ukraine, Lloyd’s Expand Insurance Facility for Non-Military Shipments
Mar 1 2024 // Insurance broker Marsh McLennan, the Ukrainian government and Lloyd’s have announced a major expansion of the Unity insurance facility – a public-private partnership originally launched in November 2023 to provide...
MCI Syndicate-in-a-Box Gets Lloyd’s Nod to Provide Clinical Trial Funding Insurance
Feb 16 2024 // Asta, through its third-party managing agency at Lloyd’s, announced the “in-principle” approval of a syndicate-in-a-box (SIAB) to deliver a breakthrough insurance product that aims to accelerate the...
Court Orders Texas Adjuster to Cease Using Lloyd’s Trademarked Names
Feb 9 2024 // A Texas public adjuster committed willful infringement when he formed a corporation and a limited liability company with the names “Certain Underwriters at Lloyds London, Inc.” and “Certain Underwriters...
Envelop Risk Launches Cyber Reinsurance Lloyd’s Vehicle With Managing Agent Apollo
Jan 22 2024 // Envelop Risk, the data-driven cyber re/insurance and analytics specialist, announced the launch of Envelop SPA 1925, a dedicated cyber reinsurance special purpose arrangement (SPA) at Lloyd’s, in partnership with...
Markets/Coverages: Lloyd’s Announces 1st 144A Cat Bond on Its London Bridge Platform
Jan 8 2024 // Lloyd’s, the re/insurance marketplace, announced that the first 144A catastrophe bond has been issued on its risk transformation platform London Bridge 2 PCC Ltd. Beazley is the sponsor of the US$100 million...
Citgo Wins $54M from Lloyd’s Insurers After Oil Seized by Venezuela Government
Dec 21 2023 // (Bloomberg) — Citgo Petroleum Corp. was awarded an insurance payment of more than $54 million for almost 1 million barrels of crude seized by the Venezuelan government. A jury in federal court in Manhattan decided...
Parametric Re/Insurer NormanMax Gets ‘in Principle’ Nod to Launch Lloyd’s Syndicate
Dec 21 2023 // NormanMax Insurance Holdings, the Miami, Florida-based parametric re/insurance group, has received “in principle” approval from Lloyd’s to launch a syndicate, which will be managed by Apollo Syndicate...
Lloyd’s Adds Guyana to Risky Shipping List Amid Escalating Dispute With Venezuela
Dec 19 2023 // One of the world’s most-influential insurance markets added Guyana to its list of the riskiest shipping zones amid an escalating territorial dispute with neighboring Venezuela. The decision announced by Lloyd’s...
Lloyd’s Extends Lease on Iconic London Headquarters Until 2035
Dec 18 2023 // Society of Lloyd’s, better known as Lloyd’s of London, has reached an agreement to remain in its One Lime Street headquarters until at least 2035, the Financial Times reported. The deal with landlord Ping An...
S&P Upgrades Lloyd’s Financial Strength Rating to AA-
Dec 15 2023 // S&P Global Ratings has revised its financial strength rating for Lloyd’s of London to “AA–”, outlook stable, from “A+”, outlook stable. The rating upgrade reflects the improvement in...
AXIS Gets In-Principle Approval to Launch Energy Resilience Syndicate at Lloyd’s
Dec 14 2023 // AXIS Capital Holdings Ltd. announced it has received in-principle approval from Lloyd’s to launch a syndicate that will focus on providing capacity for new energy projects with a critical role in supporting the...
New York Law Bars Subrogation by Lloyd’s in LaGuardia Project, Appeals Court Affirms
Dec 13 2023 // A federal appeals court has declared that New York law prevents Lloyd’s from recovering some loss payments from Zurich American because Zurich’s insured was also an insured of Lloyd’s in a case involving...
People Moves: Papanikolaou to Succeed Mueller as AGCS CEO and Will Lead Allianz Commercial; May Promoted to CEO of Lloyd’s Europe as Breitburd Steps Down
Dec 11 2023 // This edition of International People Moves details appointments at Allianz Global Corporate & Specialty SE (AGCS) and Lloyd’s Europe. A summary of these new hires follows here. Papanikolaou to Succeed Mueller as...
Specialist Risk Group Acquires Lloyd’s Broker CBC Partnership
Dec 8 2023 // Specialist Risk Group (SRG) has agreed to acquire the London-based broker CBC Partnership (CBC), subject to the necessary regulatory approvals. Financial details of the transaction were not disclosed. CBC will become...
CFC Executives Walsh and Newman to Step Down After Lloyd’s Misconduct Probe
Nov 29 2023 // CFC, the London-based managing general agent, announced that its founder and group CEO, David Walsh, and Graeme Newman, CEO of CFC Underwriting, will be exiting the company following the completion of an investigation by...
Probitas Ready to Launch Lloyd’s Special Purpose Arrangement for 2024 Year of Account
Nov 28 2023 // Lloyd’s syndicate Probitas 1492 announced that Lloyd’s has given formal approval for its special purpose arrangement (SPA), which will begin underwriting in the 2024 year of account. The SPA, called “AdA...
Update: Ukraine Launches Grain Insurance Program With Marsh McLennan, Lloyd’s
Nov 15 2023 // Ukraine is starting an insurance program with broker Marsh McLennan and Lloyd’s of London to provide cover for grain vessels sailing from Ukraine’s deep-sea ports, just days after a ship was hit by a Russian...
Lloyd’s to Invest $65M in Regions Affected by Transatlantic Slave Trade
Nov 8 2023 // Lloyd’s of London will invest 40 million pounds ($49.6 million) in regions affected by the transatlantic slave trade, it said on Wednesday, after a report showed the commercial insurance market had strong links to...
Major Cyber Attack Could Cost Global Economy $3.5 Trillion: Lloyd’s
Nov 6 2023 // A cyber attack on a major financial services payments system could result in widespread business disruptions, potentially costing the global economy $3.5 trillion over a five-year period, according to research from...
London SPAC to Test Shareholder Appetite for Lloyd’s of London Venture
Oct 31 2023 // Financials Acquisition Corp. said Monday it would ask shareholders to back its planned merger with its newly formed insurance venture, in a test of investor appetite for new stocks. The special purpose acquisition company...
