Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Brit Expands Capacity for Bermuda Sidecar Versutus & Lloyd’s Syndicate 2988
Feb 15 2018 // London-based Brit Ltd. has renewed and expanded the collateralized reinsurance capacity provided by its Bermuda domiciled sidecar, Versutus Ltd., in support of Brit’s property catastrophe portfolio for 2018. Marking...
ArgoGlobal Launches Lloyd’s Market Motor Treaty Consortium, Supported by Barbican
Feb 12 2018 // ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the launch of the first Lloyd’s market consortium for motor treaty business. The consortium, led by ArgoGlobal and supported by Barbican...
London Market Single Claims Agreement Launched to Improve Claims Handling
Feb 1 2018 // The London market has launched a simplified system for claims handling in an effort to improve client service and streamline claims agreement across the London market. The Single Claims Agreement is designed “to...
Insurers Begin to Offer Cryptocurrency Theft Cover, Tackling Risks of Growing Sector
Feb 1 2018 // Major global insurers are starting to offer protection against cryptocurrency theft, willing to tackle daunting challenges it brings rather than miss out on this volatile and loosely regulated, but rapidly growing...
Lloyd’s Market Association to Offer International Courses, Technical Programs
Jan 31 2018 // The Lloyd’s Market Association Academy (LMA Academy) announced that, starting in March, it will begin offering a range of technical programs and courses internationally. The expansion builds on the success of the...
Bloomberg Interview with Lloyd’s CEO Beale in Davos: Economic Outlook, Asia Growth, Cyber, Brexit and More
Jan 26 2018 // Lloyd’s of London, the world’s oldest insurance market, is experiencing year-on-year growth of 100 percent in some of its Asian markets, where growing economies are fueling demand for cover from the...
$19 Billion in Potential Losses from Cloud Services Failure Mostly Uninsured: Lloyd’s, AIR
Jan 23 2018 // A cyber problem that temporary shuts down a top U.S. cloud computing provider could trigger as much as $19 billion in business losses, only a fraction of which would be insured, Lloyd’s of London said in a report on...
AXIS Capital Aligns Lloyd’s Agency Platforms After Its Acquisition of Novae
Jan 9 2018 // AXIS Capital Holdings Ltd. announced it has received authorization from Lloyd’s for AXIS Managing Agency Ltd. to commence the management and oversight of Novae Syndicate 2007 and SPS 6129 after its acquisition of...
Ironshore’s Pembroke Agency & GIC Re Get Nod from Lloyd’s to Form Syndicate
Dec 21 2017 // Ironshore Inc. announced that its Pembroke Managing Agency has been granted “in principle” approval by the Lloyd’s Franchise Board to create GIC Re’s syndicate at Lloyd’s. “The...
Hamilton Finds Buyer for Sportscover Legacy Book
Dec 21 2017 // Hamilton Insurance Group has found a buyer for the legacy book the insurer inherited from its purchase of Sportscover Underwriting Ltd. in April 2015. Syndicate 3330 will buy the business from Hamilton Underwriting...
Travelers Names Rnjak to Lead Its Lloyd’s Platform
Dec 21 2017 // Travelers Europe announced it has appointed Nick Rnjak to lead Travelers Syndicate Management Ltd., its wholly owned platform in the Lloyd’s insurance market. Rnjak most recently served as chief underwriting officer...
Factbox: Growing List of Insurers Make Brexit Plans for EU Subsidiaries
Dec 20 2017 // Below are insurers’ plans for EU subsidiaries (in alphabetical order) in case Britain does not have access to the single market after Brexit: ADMIRAL. British motor insurer Admiral Group said last year that it could...
Pioneer Underwriters Gets Lloyd’s Approval to Launch Syndicate 1980 on Jan. 1
Dec 14 2017 // Pioneer Underwriters announced it has received approval from Lloyd’s for Syndicate 1980 to commence underwriting business attaching on or after Jan. 1, 2018. Pioneer Syndicate 1980 will have a gross premium income of...
UK’s Bretton Woods International Gets UK Regulatory Nod, Becomes Lloyd’s Broker
Dec 13 2017 // Bretton Woods International (BWI), the specialist insurance broker and managing general agent, has received a license to operate in the UK as an independent broker and, at the same time, is now registered as a...
Factbox: More Insurers Make Decisions About Post-Brexit Headquarters
Dec 13 2017 // Liberty Specialty Markets said it planned to redomicile its UK insurance company to Luxembourg, as a result of Britain’s decision to leave the European Union. Below are insurers’ plans for EU subsidiaries (in...
China’s Tallest Building Attracts Industry Tenants Including Lloyd’s & Allianz
Dec 12 2017 // After more than two years of red tape that kept tenants from moving in, China’s tallest skyscraper, the Shanghai Tower, has been quietly opening and filling office space. More than 60 companies now occupy office...
U.S. Flood Program to Collect $1 Billion in Reinsurance for Hurricane Harvey Claims
Dec 6 2017 // The Federal Emergency Management Agency (FEMA) is seeking to recover the full $1.042 billion of its reinsurance coverage to help pay the federal flood insurance program’s losses from Hurricane Harvey. Those paid...
Randall & Quilter Sells R&Q Managing Agency to U.S. MedMal Insurer Coverys
Dec 1 2017 // Randall & Quilter Investment Holdings Ltd. announced it has completed the sale of its Lloyd’s managing agency, R&Q Managing Agency Ltd. (RQMA), to Coverys, a provider of medical professional liability...
Lloyd’s Pays Claims of $1.7B for Hurricanes Harvey, Irma & Maria – So Far
Nov 29 2017 // The Lloyd’s market has paid claims worth US$1.7 billion, to date, in response to Hurricanes Harvey, Irma and Maria. Earlier this year Lloyd’s estimated a total commitment of US$4.8 billion for the three...
Factbox: Growing List of Insurers Decide on Post-Brexit EU Headquarters
Nov 21 2017 // Sompo International Holdings, a Bermuda-based unit of Japanese insurer Sompo, said it will set up a subsidiary in Luxembourg, in case Britain does not have access to the single market after Brexit. Below are...
