Latest Lloyd's Headlines

Electronic Trading/Processing Surges at Lloyd’s

Feb 5 2007 // “A quarter of all premium transactions in the London market are expected to be handled electronically by the end of the month,” said a recent bulletin on the Lloyd’s web site (www.llloyds.com). The...

S&P Publishes Lloyd’s Syndicate Review

Jan 29 2007 // Standard & Poor’s Ratings Services reported that it has preliminarily reviewed its Lloyd’s Syndicate Assessment (LSA) coverage for 2007. S&P said it will “undertake a full review of the LSAs...

Bank of America Expands U.S. Insurance Operation with Lloyd’s

Jan 29 2007 // BA International Underwriters Ltd, a wholly-owned subsidiary of Banc of America Insurance Group, in conjunction with Lloyd’s of London, has established the Pembrace Casualty Insurance Syndicate to expand Bank of...

People and Places

Jan 29 2007 // Citizens Property Insurance Corp.’s board of governors voted unanimously to recommend interim President Scott Wallace be appointed to the post permanently. Wallace was selected from more than 70 candidates by a...

Jan 28 2007 // People Citizens Property Insurance Corp.’s board of governors voted unanimously to recommend interim President Scott Wallace be appointed to the post permanently. Wallace was selected from more than 70 candidates by...

People

Jan 28 2007 // Lloyd’s of London announced that Julian James, its director-worldwide markets, will be leaving at the end of April to join Lockton International. James has been responsible for all Lloyd’s commercial activities...

AAMGA Leaders Conclude ‘Fact-Finding’ London Trip

Jan 26 2007 // Insurance may be local, but it doesn’t have to be handled exclusively in the state, or even the country, where it’s needed. For the surplus lines market that means Lloyd’s, which explains the annual visit...

Best Affirms Lloyd’s Syndicate 570 Ratings

Jan 26 2007 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of “A” (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 570, which is managed by Atrium Underwriters Limited,...

Best Affirms Lloyd’s Syndicate 609 Rating; Atrium’s ICR

Jan 26 2007 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 609, which is managed by Atrium Underwriters...

Lloyd’s Chairman Praises Indian Initiative to Open Markets

Jan 19 2007 // Gordon Brown, The UK’s Chancellor of the Exchequer (Finance Minister) and odds-on favorite to succeed Tony Blair as Prime Minister, has apparently come away with some success during his working visit to...

Casino Magnate Wynn Pokes Lloyd’s Over Damaged Picasso Offer

Jan 15 2007 // The casino magnate who accidentally poked a hole in a Picasso painting said insurer Lloyd’s of London has offered to settle his $54 million claim of lost value, but the talks aren’t going the way he’d...

James Leaving Lloyd’s for Lockton

Jan 15 2007 // Lloyd’s has announced that Julian James, its director of Worldwide Markets, will be leaving at the end of April to join Lockton International. Lloyd’s CEO Richard Ward, issued a written statement, distributed...

Best Affirms Lloyd’s Syndicate 2007 Ratings; Syndicate 1007 Withdrawn

Jan 15 2007 // A.M. Best Co. has affirmed its Syndicate Rating of “A” (Excellent) and the issuer credit rating of “a” of Lloyd’s Syndicate 2007 (formerly known as Lloyd’s Syndicate 2147), managed by...

Lloyd’s Chief Says Insurers Must Take Action on Climate Change Issues

Jan 12 2007 // Insurers must address global climate change as they cope with the growing cost of extreme natural disasters, said Lord Peter Levene, chairman of Lloyd’s, the London insurance market. “We cannot risk being in...

Tony Markel Comments on Lloyd’s

Jan 10 2007 // Tony Markel, president and COO of Markel Corporation, has expressed his satisfaction at the progress Lloyd’s has made and the London market’s current strong financial condition. In a comment on the...

Best Affirms Lloyd’s Syndicate 382 Ratings; Assigns Ratings to Hardy Underwriting Group

Jan 9 2007 // A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 382, managed by Hardy (Underwriting Agencies) Ltd....

Mitsui Establishes Lloyd’s Agency

Jan 8 2007 // Mitsui Sumitomo Insurance Underwriting at Lloyd’s Ltd. (MSI) has launched its own Lloyd’s managing agency. According to a bulletin on the Lloyd’s web site (www.lloyds.com) it’s the first Japanese...

Former R.I. Gov. Sundlun and Lloyd’s at odds

Jan 8 2007 // The London insurance market Lloyd’s has sued former Rhode Island Gov. Bruce Sundlun, accusing him of failing to pay about $300,000 in principal and interest. But Sundlun says he doesn’t owe Lloyd’s any...

Former R.I. Gov. Sundlun and Lloyd’s at odds

Jan 7 2007 // The London insurance market Lloyd’s has sued former Rhode Island Gov. Bruce Sundlun, accusing him of failing to pay about $300,000 in principal and interest. But Sundlun says he doesn’t owe Lloyd’s any...

Lloyd’s Endorses New Reinsurance Dispute Resolution Protocol

Jan 3 2007 // Lloyd’s has endorsed a new International Reinsurance Industry Dispute Resolution Protocol, which it notes “provides the insurance industry with an alternative to a court case or a lengthy arbitration if a...