Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Ratings Roundup: Sovag, Syndicate 2003, Polish Re, Tunis Re
Sep 26 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and the issuer credit rating (ICR) of “bbb” of Germany’s SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft SOVAG...
Lloyd’s Six Month Profits Fall 47.5% to $1.76 Billion
Sep 25 2008 // Lloyd’s has reported interim results, which show a marked decline in profits for the first six months of 2008. Nonetheless, compared to what’s been happening in the global financial sector (where Lloyd’s...
Lloyd’s Welcomes its New Graduates
Sep 23 2008 // Lloyd’s has welcomed the first group of candidates to be accepted in to its graduate program. The nine graduates have spent the past week learning about Lloyd’s and the London Insurance Market, meeting their...
Best Affirms Hiscox Lloyd’s Syndicate 33 ‘A’ Ratings
Sep 18 2008 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 33, which is managed by Hiscox Syndicates Limited...
Lloyd’s Execs Comment on ‘Mixed Outlook’ for Marine Sector
Sep 17 2008 // Rolf Tolle, Lloyd’s Franchise Performance Director, speaking at the International Union of Marine Insurers’ Conference in Vancouver, noted that low inflation, huge rises in commodity prices and the growth of...
Lloyd’s Sees NAIC’s Decision on Reinsurance Collateral ‘This Month’
Sep 16 2008 // A bulletin on the Lloyd’s web site (www.lloyds.com) notes that the National Association of Insurance Commissioners (NAIC) has confirmed it will meet “to consider the proposal to end collateral requirements...
UK High Court Issues Restraining Order on Lloyd’s Former ‘Names’
Sep 11 2008 // The UK High Court has issued a civil restraining order, which enjoins former Lloyd’s Names from bringing further lawsuits against Lloyd’s without first seeking permission from the court to do so. Lloyd’s...
Lloyd’s, RMS Coastal Flood Study Urges Adapting to Changing Conditions
Sep 10 2008 // A new report published by Lloyd’s, as part of its “360 project,” and Risk Management Solutions (RMS), warns that “without adaptation, insurance losses from coastal flooding for high-risk properties...
Gao to Head Lloyd’s China Re Office
Sep 9 2008 // Lloyd’s announced the appointment of Eric Gao, formerly Director & General Manager of Swiss Re’s Beijing branch, as its new CEO for Lloyd’s Reinsurance Company (China) Ltd. He “will focus on...
Lloyd’s Oxygen Opens Bermuda Subsidiary Company
Sep 9 2008 // Oxygen Insurance Brokers, a Lloyd’s accredited London Market insurance intermediary, announced the expansion of their specialist reinsurance division, Oxygen Re, with the incorporation of Oxygen Insurance (Bermuda)...
Ratings: Hull Club, Lloyd’s Syndicate 623/2623, Flagstone Re, First Net
Sep 8 2008 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on marine mutual insurer Norwegian Hull Club (NHC) to ‘A-‘ from...
Lloyd’s in the 21st Century
Sep 1 2008 // The Modernization of Lloyd’s and the London Market Any institution — and there aren’t many — that survives and thrives for 320 years must find ways to adapt to changing conditions. Lloyd’s of...
Lloyd’s, RMS to Release Global Coastal Flood Report
Aug 25 2008 // Lloyd’s and Risk Management Solutions will publish a new report on coastal flooding on Tuesday, Sept. 9 in conjunction with the Reinsurance Rendezvous in Monte Carlo. Lloyd’s said the report looks specifically...
Insuring Olympic Gold Medals: How Much Are They Worth
Aug 25 2008 // The Olympic Games have concluded their run in Beijing. The 302 Gold Medal winners are returning to their respective countries to reflect on their experiences and their achievements. China is getting back to business (and...
Ratings: MAPFRE RE, Novae, Syndicate 2007, Infrassure, Glacier Re, CLICO
Aug 22 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa-” of Spain’s MAPFRE RE, Compania de Reaseguros, S.A. with a stable...
Burma Rights Group Says XL, Chubb to Withdraw; Chubb Cites ‘Inaccuracies’
Aug 21 2008 // The Burma Campaign UK, a human rights group, has issued a bulletin stating that XL and Chubb have separately announced their withdrawals from the Burmese market. The Campaign said the move was prompted by a bulletin it had...
New York to Revive Lloyd’s-like Exchange
Aug 21 2008 // New York Insurance Superintendent Eric Dinallo said a revival of the defunct New York Insurance Exchange could happen as early as next year. Dinallo said the next 18 months was a “realistic horizon” to revive...
S&P Releases New Lloyd’s Syndicate Financial Assessments
Aug 15 2008 // Standard & Poor’s Ratings Services has announced the results of its latest public information Lloyd’s Syndicate Assessment (LSA) review, which considered the 2007 syndicate financial statements and...
Lloyd’s Europe Manager Highlights Expansion Plans
Aug 8 2008 // In a recent interview, published on the Lloyd’s web site (www.lloyds.com), Enrico Bertagna, Regional Manager for Europe, discussed Lloyd’s present and future plans to expand the London Market’s...
Lloyd’s Appoints Egan as First Country Manager for Ireland
Aug 1 2008 // Lloyd’s announced the appointment of Eamonn Egan as its first Country Manager for Ireland. He was formerly Regional Development Manager at ACE European Group, and will be assuming his new position at Lloyd’s...
