Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Major Cyber Attack Could Cost Global Economy $53 Billion: Lloyd’s
Jul 17 2017 // A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London said in a report...
AXIS Capital to Launch Lloyd’s Managing Agency
Jul 14 2017 // Bermuda-based AXIS Capital Holdings Ltd. announced it will launch a Lloyd’s managing agent after receiving authorization from Lloyd’s, the UK Prudential Regulation Authority (PRA) and the Financial Conduct...
Tokio Millennium Re Names Ex-Lloyd’s Exec, Secrett, as Chief Underwriting Officer
Jul 14 2017 // Zurich-based Tokio Millennium Re AG (TMR) has appointed Brian Secrett as chief underwriting officer (CUO) and member of the executive committee, with effect from Oct. 1, 2017 and subject to regulatory approvals. As the new...
AXIS Capital to Acquire Lloyd’s Specialty Re/Insurer Novae for $604 Million
Jul 6 2017 // AXIS Capital Holdings Ltd. announced it is acquiring Novae Group plc, a specialty re/insurer that operates through Lloyd’s of London. “The US$604 million transaction adds scale and breadth to the international...
Lloyd’s Names Childs, Hiscox’s Non-Exec Chairman, as Deputy Chairman
Jul 5 2017 // Lloyd’s announced that Robert Childs, non-executive chairman of Hiscox, has been appointed deputy chairman of Lloyd’s. He takes up the position immediately. Childs takes over from Paul Jardine, who retired from...
Businesses Underestimate Long-Term Effects of Cyber Attacks: Lloyd’s Report
Jun 28 2017 // Businesses could face a much higher bill than they expect or are prepared for after falling victim to a cyber-attack, according to research from Lloyd’s in association with KPMG and legal firm DAC Beachcroft. As...
CNA Hardy Names Neon’s Marriott as Head of Cargo, Lloyd’s
Jun 27 2017 // CNA Hardy, a specialist commercial insurance provider for clients within the Lloyd’s and company markets, announced the appointment of Alistair Marriott as head of Cargo for its Lloyd’s platform. Reporting to...
Lloyd’s to Cut 10% of UK Employees on Soft Market Pricing Pressures
Jun 26 2017 // Lloyd’s of London is planning to cut 10 percent of its staff in the UK as the world’s oldest insurance market looks to streamline operations and reduce costs amid continued pricing pressure on its...
Existing EU Contracts Must Be ‘Grandfathered’ After Brexit to Avoid Complexity: Lloyd’s CEO Beale
Jun 26 2017 // Existing European Union insurance policies should stay in place after Britain leaves the bloc because the process of dividing them into British and EU contracts would be too complex, Lloyd’s of London Chief Executive...
Randall & Quilter to Sell Lloyd’s Agency to Medical Liability Insurer Coverys
Jun 23 2017 // Randall & Quilter Investment Holdings Ltd. announced it has reached agreement to sell the entire share capital of its Lloyd’s managing agency, R&Q Managing Agency Ltd. (RQMA), to Coverys, a provider of...
Carnegie-Brown Begins Tenure as Lloyd’s Chairman
Jun 16 2017 // Bruce Carnegie-Brown formally has officially assumed his position as chairman of Lloyd’s, following the retirement of John Nelson. “I am very excited to get started. In the months since my appointment was...
Lloyd’s Urges Insurer Investment in Natural Habitats for Flood Protection
Jun 13 2017 // Natural coastal habitats such as mangroves, coral reefs and salt marshes protect communities more effectively against coastal storms than seawalls, and insurers should consider this when pricing flood risk, Lloyd’s...
Lloyd’s Coverholder, Arma Underwriting, Launches in Dubai with MENA Focus
Jun 12 2017 // Asta, the Lloyd’s third party managing agent and specialist MGA investor, announced that Dubai-based Arma Underwriting Ltd. has received full approval from all regulators and commenced operations last...
Dale Underwriting Offers Contingency & Sports Personal Accident Cover; Syndicate Support Extended
Jun 1 2017 // Dale Underwriting Partners, managed by Lloyd’s third party managing agency Asta, announced the creation of a new contingency and sports personal accident business. The team will be led by Martin Lawson, who will be...
Lloyd’s Insurers Launch Asia Political Risk Consortium
May 25 2017 // Three Lloyd’s insurers have joined forces to form a Political Risk Consortium in Asia, offering increased capacity for a wide range of political and contract frustration risks. Beazley, Chaucer and Talbot will work...
Industry’s International Diversity & Inclusion Festival to Be Held Sept. 26-28
Apr 12 2017 // The insurance industry’s third annual diversity and inclusion festival, called Dive In, will be held Sept. 26-28 at events across the globe. Marsh, Willis Towers Watson, XL Catlin and Aon are continuing their...
Lloyd’s Begins Operating in India with MS Amlin as 1st Underwriter
Apr 5 2017 // Lloyd’s, the specialist insurance and reinsurance market, announced it has begun to operate in India with MS Amlin as the first Lloyd’s business to join the branch and begin underwriting. Lloyd’s India...
What Could be Hotter than Phoenix? The Answer Might Just Be Phoenix
Mar 30 2017 // Can you imagine an even hotter, drier Phoenix? Certainly not if you’ve been to the sun-drenched Arizona capital in the summer. Such an inconceivable scenario is being proposed by the LA Times. “Today, Phoenix...
Brussels Hopes to Lure Other Finance Firms After Its Success with Lloyd’s
Mar 30 2017 // Brussels expects to lure other financial players after convincing Lloyd’s of London, the world’s largest specialty insurance market, to make the city its post-Brexit European hub. While Lloyd’s choice on...
Lloyd’s Reports £2.1B ($2.6B) Profit for 2016, Unchanged from 2015
Mar 30 2017 // Lloyd’s reported 2016 pretax profit of £2.1 billion pounds ($2.6 billion), level with 2015, despite a worsening of the market’s combined ratio at 97.9 percent, compared with 90.0 percent in 2015. Return on...
