Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
Brexit Trade Talks Back on Agenda After COVID-19 Hiatus, Facing Tight Timetable
May 1 2020 // Banks are dusting off their no-deal Brexit plans as concerns deepen that Britain and the European Union won’t agree a trade deal by December as the COVID-19 pandemic compounds fundamental disagreements over future...
Lockton Re in London Taps Aon Re’s Mallon, Neon’s Foxall for North America, Int’l Teams
Apr 30 2020 // Lockton Re, the global reinsurance business of the world’s largest privately held independent insurance broker, announced two new appointments in its London office. Phillip Mallon will be joining the North American...
Beazley Expands M&A Insurance Team with 5 New Underwriters, Geographies
Apr 29 2020 // Specialist insurer Beazley has expanded its mergers & acquisitions (M&A) team with new locations and the appointment of five new underwriters. This follows several years of continuous growth in underwriting...
Analysis: Insurers Feel Rising Legal Heat for COVID-19 Business Interruption Exclusions
Apr 28 2020 // Daniel Duckett, owner of the Lazy Claire patisserie in Belfast, was hoping for an insurance payout of up to 100,000 pounds ($123,460.00) to cover losses during the coronavirus lockdown. Now he fears for the future as he...
Sompo Int’l to Exit Lloyd’s, Writing New Business from London Company Market Platform
Apr 15 2020 // Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that as part of the ongoing transformation of Sompo International, the insurer will be...
Fitch Places Lloyd’s of London’s on Rating Watch Negative on COVID-19 Crisis
Apr 3 2020 // Fitch Ratings has placed Lloyd’s of London’s ‘AA-‘ Insurer Financial Strength (IFS) ratings on rating watch negative, on the uncertainty and increased risk to Lloyd’s earnings and underwriting...
Aon Enhances Reinsurer E-Trading Portal to Support Remote Working During Pandemic
Apr 2 2020 // Aon plc, the global re/insurance broker, has enhanced its reinsurer trading portal, ABConnect Placements, to electronically bind treaty placements with Lloyd’s of London and International Underwriting Association...
Insurers Worry About D&O Claims Against Executives From Coronavirus
Apr 2 2020 // Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies which protect the bosses,...
How Coronavirus Crisis Has Changed Underwriting at Lloyd’s of London
Mar 30 2020 // Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they...
Fitch Revises Outlook for London Insurance Sector to Negative on COVID-19 Impact
Mar 24 2020 // Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable. The sector outlook revision reflects increased concerns over the COVID-19 disruption and...
Growing Exodus of Workers from City of London Cripples Small Businesses
Mar 19 2020 // At lunch hour, James Leahy’s Burrito Joe stall in the City of London’s financial district is usually buzzing as people line up from around the corner for their fajitas, tacos, quesadillas and rice-and-meat...
Lloyd’s Closes London Underwriting Room in Response to Coronavirus Crisis
Mar 19 2020 // After conducting a successful stress-test last week of its electronic trading system, Lloyd’s has made the decision to close its underwriting room in response to the coronavirus outbreak. As a result, market insurers...
Lloyd’s Asks Market Insurers to Provide Estimates for Coronavirus Losses
Mar 18 2020 // Lloyd’s of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand its possible...
London’s EC3 Brokers Starts U.S. Property Wholesale Unit; 3 Jeffery Brothers to Head
Mar 12 2020 // London-based EC3 Brokers has launched a U.S. property wholesale division based in London, with the appointments of Matthew Jeffery as managing director and David and Daniel Jeffery as divisional directors. The brothers,...
Lloyd’s to Shut London Building for Coronavirus Stress-Test – But Trading Will Continue
Mar 12 2020 // Lloyd’s is shutting its London underwriting room at 1 Lime Street for one day for a contingency planning exercise in response to the coronavirus outbreak. Starting at midnight tonight and for 24 hours, Lloyd’s...
Skuld Announces Changes to London Management Team
Mar 11 2020 // Leading marine insurance provider Skuld announced changes to the Skuld London management team. Gregory Thomas, chief business development officer at Skuld, will on July 1 relocate from London to Norway and continue to...
Private Equity Firm KKR Shuts London Offices on Employee Diagnosis of Coronavirus
Mar 10 2020 // Private equity firm KKR & Co Inc. said late on Monday an employee in its London office had tested positive for coronavirus, and that it would temporarily close both its London offices to have them sanitized. “Our...
Coronavirus Wreaks Havoc on Global Businesses as Infections Pass 100,000
Mar 6 2020 // The number of people infected with the new coronavirus surpassed 100,000 across the world on Friday, as the outbreak reached more countries and economic damage intensified, with business districts beginning to empty and...
European Banks, Lloyd’s of London Develop Coronavirus Contingency Plans
Mar 5 2020 // Global banks and small investment firms in Europe are urging staff to work from home and curb travel as the financial industry braces for disruption from the rapidly spreading coronavirus outbreak. For many companies it...
UK Financial Services Could Fare Less Well in U.S. Trade Deal than Energy, Cars
Mar 3 2020 // Britain’s financial services industry could fare less well than energy, autos and other sectors under a free trade deal with the United States, the government said on Monday. Britain said in its negotiating mandate...
