Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Lloyd’s Insurer Beazley Reports 1st Half Loss of $13.8M on Mounting COVID-19 Claims
Jul 23 2020 // British insurer Beazley swung to a loss for the first half on Thursday after setting aside $170 million for coronavirus-related claims, saying the fallout from the crisis would be similar to a major natural...
New Lloyd’s Syndicate-in-a-Box Created to Insure Transport of Future COVID-19 Vaccine
Jul 23 2020 // Lloyd’s, the specialist insurance and reinsurance market, announced the creation and in principle approval of its newest “syndicate-in-a-box,” Syndicate 1796,* set up to insure the storage and...
Lloyd’s to Exit U.S. Admitted Market to Focus More on U.S. Surplus Lines, Reinsurance Markets
Jul 20 2020 // Lloyd’s announced it plans to stop accepting admitted market accounts in the United States in a year and focus on the U.S. reinsurance and excess and surplus (E&S) insurance market, where it is the market...
Lloyd’s Underwriters Sue Indiana Archdiocese Over Liability Insurance Response
Jul 17 2020 // An insurance company is suing the Indianapolis archdiocese, alleging that it failed to disclose allegations of child sexual abuse by a Catholic priest when it applied for liability insurance. Underwriters for Lloyd’s...
U.S. Pressures Insurers, Certifiers, Shippers in Enforcing Tougher Sanctions on Venezuela
Jul 14 2020 // Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the...
U.S. Targets Ship Insurers, Maritime Industry to Strengthen Venezuela Sanctions
Jul 13 2020 // Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the...
Lloyd’s to Exit U.S. Admitted Market, Focus on U.S. Surplus Lines, Reinsurance
Jul 10 2020 // Lloyd’s announced it plans to stop accepting admitted market accounts in the U.S. in a year and focus on the U.S. reinsurance and excess and surplus (E&S) insurance market, where it is the market leader. As part...
Kovrr Develops Open Framework for Measuring Catastrophic Cyber Risk
Jul 9 2020 // Kovrr, a cyber risk modeling company, announced it has developed an easy-to-use open framework to measure and understand catastrophic cyber risk exposure. The CRA-Zones™ framework defines the minimal elements needed to...
Lloyd’s Market Assn. Launches Delegated Authority Group to Set Future Business Model
Jul 8 2020 // The Lloyd’s Market Association (LMA) has launched a Delegated Authority Committee (DAC) to inform and guide the evolution of this important aspect of Lloyd’s underwriting, distribution and claims. Delegated...
Lloyd’s Innovation Accelerator Focuses on COVID-19 Market Response with 3 Insurtechs
Jul 8 2020 // Lloyd’s has started work with three insurtech startups to help the market respond to the COVID-19 pandemic. As part of its package of measures to respond to the COVID-19 pandemic, Lloyd’s has expanded the...
AXA XL Names McGovern as CEO UK & Lloyd’s Market
Jul 8 2020 // AXA XL announced that Sean McGovern has been appointed as CEO UK & Lloyd’s market, subject to regulatory approval. McGovern had been performing the role on an interim basis for some months and has now been...
American Companies Facing Pressure to Reveal Data on Diversity of Employees
Jul 6 2020 // American companies are coming under increasing pressure from investors to publicly disclose information about diversity among employees in the wake of nationwide protests against racial discrimination. Many executives have...
How to Prepare for the Next ‘Black-Swan’ Event? Lloyd’s Has Some Suggestions.
Jul 2 2020 // Lloyd’s of London is proposing solutions that could provide customers with greater protection against a future wave of the COVID-19 virus or future systemic – “black swan” – catastrophes, such as...
Investment Manager Nephila Capital to Launch Lloyd’s Syndicate with ILS Specialty
Jun 24 2020 // Nephila Capital announced that the Lloyd’s Council has given in-principle approval to Nephila’s plan to form a new syndicate. Bermuda-based Nephila is the largest institutional asset manager dedicated to...
Some Facts About London’s Role in Insuring the Slave Trade
Jun 19 2020 // London is facing up to its role in insuring the slave trade as part of a sweeping global reassessment of history and racism. This reappraisal was triggered by the death of George Floyd, a black man who died after a...
Update: Lloyd’s of London Apologizes for Its ‘Shameful’ Role in Atlantic Slave Trade
Jun 18 2020 // The Lloyd’s of London insurance market has apologized for its “shameful” role in the 18th and 19th Century Atlantic slave trade and pledged to fund opportunities for black and ethnic minority...
Lloyd’s Insurers Get Ready to Re-Open in September After Coronavirus Lockdown
Jun 18 2020 // Clear screens on underwriting boxes, temperature-check thermal cameras and a click and collect take-away catering service are among changes Lloyd’s of London insurance workers will see when they return to the office...
Lloyd’s Insurer Lancashire Holdings Raises US$352M to Target Hard Market Opportunities
Jun 10 2020 // Lancashire Holdings Ltd. has completed an equity capital raise of approximately £277 million (US$352 million) through the placement of new common shares. The Lloyd’s insurer said it intends to use the proceeds of...
Global Insurers Pulled into Epicenter of COVID-19 Crisis, Firmly in Uncharted Territory
Jun 10 2020 // Roger Federer and Rafael Nadal locked in spell-binding battle. Paul McCartney sharing a stage with Kendrick Lamar and Taylor Swift. The long-awaited 32nd Olympic Games. The list of canned crowd-thrillers that were planned...
Lloyd’s Launches Application Program Interface (API) to Enhance Electronic Placements
Jun 9 2020 // Lloyd’s announced the launch of an application program interface (API), which is designed to help London market brokers and underwriters place business electronically. The new API is part of the market’s...
