Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Time-Tested Lloyd’s Turns to Address U.S. Disaster Losses
Oct 29 2001 // Lloyd’s of London, the world’s oldest and most visible insurer, has set about dealing with the aftermath of the terrorist attacks of Sept. 11. Two weeks after the event, it released its projected net loss...
Will Reinsurance Rebound from Terrorist Strikes in the U.S.’
Oct 29 2001 // If the nautical term best applied to the reinsurance industry last year this time would have been “Steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve qui...
Lloyd’s, NAIC Report Compromise
Oct 26 2001 // Lloyd’s and the National Association of Insurance Commissioners have reportedly reached a compromise on the deposit Lloyd’s must make to the reinsurance trust fund to guarantee payments of its estimated claims...
NAIC Withdraws Lloyd’s 60% Funding Deal
Oct 25 2001 // On Tuesday The National Association of Insurance Commissioners reversed its previous decision to permit Lloyd’s to deposit 60 percent, rather than 100 percent, of the amount normally required into its U.S....
Lloyd’s Confirms S&P WTC Gross Loss Figure
Oct 24 2001 // Lloyd’s confirmed an earlier report from Standard & Poor’s that gross losses from the events of September 11 will be around £5.4 billion ($7.7 billion). The net loss estimate of £1.3 billion...
State Farm to Provide $142 Million to Lloyd’s Amlin
Oct 24 2001 // State Farm made another big investment in the reinsurance market, when it agreed to provide an additional £100 Million ($142.5 million) in capital to Lloyd’s Amlin syndicate in which it is a major...
Lloyd’s Warns Names to Expect Cash Calls Averaging $60,000
Oct 18 2001 // Lloyd’s Names were warned that they would receive cash calls in the next few days from the syndicates in which they participate asking for additional deposits averaging between £42,000 and £50,000...
NAIC To Probe Lloyd’s Solvency After WTC Attacks, Relaxes Fund Requirements
Oct 16 2001 // The National Association of Insurance Commissioners intends to conduct an in depth audit of Lloyd’s financial condition following the attacks on the World Trade Center. The investigation will focus on Lloyd’s...
Moody’s Downgrades Alleghany Lloyd’s Syndicate
Oct 11 2001 // Moody’s Investors Service downgraded the performance rating of Alleghany Underwriting Ltd.’s Lloyd’s Syndicate 376 form “B-Average” to “C+-Below Average” and kept it under review...
Lloyd’s Names Given Right to Appeal
Oct 9 2001 // 220 of the “Names” involved in litigation against Lloyd’s, known generally as the “Jaffray Case,” were given leave to appeal last November’s lower court judgment by Mr. Justice Cresswell...
Lloyd’s Wellington Ups Attack Loss Estimates, Plans Capacity Increase
Oct 8 2001 // Wellington Underwriting, a leading operator of a number of Lloyd’s Syndicates, announced that its losses from the September 11 attacks on the U.S. would be around £50 million ($73.5 million), substantially more...
Lloyd’s Estimates U.S. Disaster Losses at$1.91 Billion
Oct 8 2001 // Lloyd’s of London, the world’s oldest and most visible insurer, finally released its projected loss figures from the disastrous events of Sept. 11. According to the calculations from over 100 syndicates, net...
Will Reinsurance Rebound from Terrorist Strikes in the U.S.’
Oct 8 2001 // If the nautical term best applied to the reinsurance industry last year at this time would have been “steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve...
Lloyd’s Questioned on Liquidity, Exposures
Oct 3 2001 // Lloyd’s has received a barrage of questions on its total exposures and its liquidity following the release of its projected net loss figure of $1.94 billion as a result of the attacks on the U.S. (See IJ Website...
Lloyd’s Moves to Strengthen Central Fund
Oct 1 2001 // Lloyd’s announced Friday that, in order to build up its Central Fund, it was increasing the monthly levy paid by all 108 syndicates to the Corporation of Lloyd’s from 1.1 percent to 2 percent of monthly...
Alleghany Estimates Lloyd’s Losses at $112M
Oct 1 2001 // Alleghany Insurance Holding LLC’s parent company announced that it estimated its subsidiary would have losses of around $112 million net of reinsurance from the Sept. 11 attacks in the U.S. AIH, previously known as...
Lloyd’s Puts Losses from U.S. Disasters at
Sep 27 2001 // Lloyd’s of London said Tuesday that it had completed a review of the potential loss liabilities from more than 100 of its 108 active underwriting syndicates and estimated that its overall net exposure from the...
Fitch Completes Ratings Analysis Following Terrorist Attacks
Sep 26 2001 // Fitch completed the initial phase of its ratings review of insurance and reinsurance companies exposed to losses from the terrorist attacks of Sept. 11 in the United States. Findings have been issued on 16 insurance...
A.M. Best Announces Rating Actions
Sep 25 2001 // A.M. Best announced a series of rating decisions affecting companies in the U.S., Europe and Canada. On a positive note it affirmed the A+ (Superior) rating of the Swiss Group Winterthur and the A-(Excellent ) ratings for...
True Loss from Sept. 11 Terrorist Attacks on U.S. is Immeasurable, As Estimates of Potential Insured
Sep 24 2001 // “The World Trade Center is a living symbol of man’s dedication to world peace, his belief in cooperation of men and, through cooperation, his ability to find greatness.” —Minoru Yamasaki (1912-1987),...
