Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Business Moves
Nov 5 2006 // Affirmative Insurance Holdings, USAgencies Affirmative Insurance Holdings Inc., Addison, Texas, and privately-held USAgencies L.L.C., based in Baton Rouge, La., announced a definitive agreement under which Affirmative will...
MarketScout Approved as Lloyd’s Coverholder
Nov 2 2006 // Dallas, Texas-based MarketScout, the eInsurance Exchange, has been approved as a Lloyd’s Coverholder. The approval process requires an extensive examination of the candidate’s underwriting capabilities,...
Lloyd’s Releases Second ‘360 Report’ on Climate Change
Nov 1 2006 // Lloyd’s has released the second installment of its “360 Climate Change” series, entitled “What next for climate change?” Last June it published the first installment, entitled “Climate...
Catlin/Wellington Finalize Share Offer; Merger to Create Lloyd’s Largest Underwriter
Oct 30 2006 // The Boards of Directors of Catlin Group Limited and Wellington Underwriting Plc have agreed on the terms of a recommended Offer to be made by Catlin for the whole of the issued and to be issued share capital of Wellington....
Quanta Moves Ahead on Deal with Chaucer to Form Pembroke
Oct 26 2006 // Quanta Capital Holdings Ltd. announced that its Lloyd’s business has taken a step forward in the formation of the Pembroke Managing Agency Limited with the signing of “definitive documents with Chaucer Holdings...
Aon Re Intercedes with A.M. Best for Lloyd’s Clients
Oct 25 2006 // Aon Re Global, the Chicago-based reinsurance broker, notes that it “recently facilitated communications between rating agency A.M. Best and Lloyd’s that resulted in a clarification of Best’s treatment of...
RMS Licenses Cat Model to Lloyd’s Beaufort Syndicate.
Oct 24 2006 // Newark, Calif.-based Risk Management Solutions (RMS), which provides products and services for the management of catastrophe risk, announced that Beaufort Underwriting Agency Ltd., on behalf of its managed syndicate MSF...
Berkshire Hathaway’s National Indemnity in Deal to Back then Acquire Lloyd’s Equitas
Oct 20 2006 // Broadway producers call them “angels:” rich people who put up the money to fund their shows. In that sense, Equitas, the Lloyd’s vehicle set up in 1996 to run off a mountain of asbestos and environmental...
S&P’s Positive Reaction to Equitas/National Indemnity Deal
Oct 20 2006 // Standard & Poor’s Ratings Services reacted positively to the news that Berkshire Hathaway’s National Indemnity will initially back and could eventually take over Lloyd’s run-off vehicle Equitas Ltd....
Lloyd’s Head of Exposure Management Calls for ‘Open Source’ Models
Oct 19 2006 // In an address to the 20th Annual International Reinsurance Congress in Bermuda, Lloyd’s Head of Exposure Management, Paul Nunn, suggested that the time was right for the industry to develop the concept of “open...
Lloyd’s CEO Gives CII Keynote Speech
Oct 6 2006 // Richard Ward, in his first major speech since becoming Lloyd’s CEO, opened the U.K.’s Chartered Insurance Institute’s (CII) annual conference in Glasgow yesterday Oct. 5 with a discussion of the...
Lloyd’s Updating Rules for ‘Names’
Oct 5 2006 // Until 1994, i.e. for over 300 years, “Names,” or individual wealthy investors were Lloyd’s source of capital to back its underwriting syndicates. The introduction of corporate capital changed that...
Chaucer Forms Singapore Sub
Sep 29 2006 // The London-based Chaucer Syndicates Limited, the managing agency subsidiary of Lloyd’s insurer Chaucer Holdings PLC, has announced plans for the formation of a new Singapore-based company to underwrite Asian...
Starr Forms New Lloyd’s Syndicate
Sep 29 2006 // Pending regulatory approvals, Lloyd’s 66th syndicate will start trading next month. Syndicate 1919, which has already received Lloyd’s approval, plans to begin underwriting on October 1st. The new syndicate,...
Lloyd’s Posts $2.55 Billion H1 Profit
Sep 27 2006 // Lloyd’s announced overall first half profits of £1.3 billion ($2.553 billion), slightly below the £1.38 billion ($2.61 billion) it earned in the same period of 2005. Unfortunately Katrina, Rita and Wilma wiped out...
Reinsurers adopt ‘wait and see’ posture at Rendezvous
Sep 25 2006 // For the first time in two years the high and mighty from the reinsurance world gathered for their annual Rendezvous in Monte Carlo without having to face the consequences of an ongoing catastrophe (Ivan in 2004 and Katrina...
Reinsurers adopt ‘wait and see’ posture at Rendezvous
Sep 25 2006 // News Currents For the first time in two years the high and mighty from the reinsurance world gathered for their annual Rendezvous in Monte Carlo without having to face the consequences of an ongoing catastrophe (Ivan in...
Lloyd’s Tolle Discusses Reinsurance Securitization Growth
Sep 22 2006 // A bulletin on the Lloyd’s Website (www.lloyds.com) gives highlights from a recent conference, held at the Reinsurance Rendezvous in Monte Carlo, on the continuing development and “convergence of traditional...
Lloyd’s Implements Xchanging Claims Handling System
Sep 20 2006 // In what it called “a good step towards eradicating paper in the market,” Lloyd’s announced the implementation of “an electronic filing cabinet,” which has been launched “for handling...
Lloyd’s Market Process Reform Gains Momentum
Sep 20 2006 // Momentum is usually used in the context of football games and political campaigns, not in referring to 300-year old insurance markets. But Lloyd’s certainly seems to be gathering momentum when it comes to business...
