Articles by L.S. Howard

Lloyd’s Returns to Pre-Tax Profits, Reporting £600M ($793.1M) During 1st Half

Lloyd’s reported a return to profits during the first half, in a welcome recovery after its big losses of 2017. Pre-tax profits during the half were £600 million ($793.1 million), compared to £1.2 billion ($1.6 billion) in the first six …

Lloyd’s Modernization Plans Move Full-Steam Ahead

From Electronic Placing to Artificial Intelligence: Lloyd’s America CEO Earlier this year, this reporter was walking on Lime Street, the home of Lloyd’s of London, dodging raindrops. She observed a broker, carrying a large blue binder containing documents for an …

A CEO Needs to Be Authentic, Optimistic and Resilient: PartnerRe’s Clarke

When PartnerRe acquired SAFR in 1997, it expanded its scope of business, moving quickly from being a monoline catastrophe reinsurer to a multiline company. Along with that purchase came PartnerRe’s future CEO, Emmanuel Clarke, who began his career at SAFR …

Partner Re Celebrates Its First 25 Years– When Everything and Nothing Has Changed

During PartnerRe’s first 25 years as a reinsurer, everything has changed and nothing has changed. From its roots as a pure catastrophe player, PartnerRe has dramatically evolved–or diversified–over the years. PartnerRe was one of the new breed of catastrophe reinsurers …

Industry Blockchain Initiative B3i Gets Ready to Go Live for January Renewals

The industry’s Blockchain Insurance Industry Initiative (B3i) announced a year ago it had developed a reinsurance blockchain prototype for a property excess-of-loss (XOL) contract and asked the industry to help test it. The initial results are in. Months of testing …

GC Genesis, Guy Carpenter’s Insurer-Insurtech Matchmaker, Aims to Prevent Bad Relationships

Insurtech is often touted as the cure that will solve the insurance industry’s inefficient and antiquated processes – from distribution, to underwriting, to claims. While many insurers want to investigate the benefits of insurtech partnerships, most don’t have the first …

As Cyber Insurance Market Grows, Accumulation Risk Is Key Concern: Geneva Assn.

Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study released by insurance industry …

Venture Capital Firm, Beat Capital, to Merge with Insurer Investment Vehicle Paraline UK

Venture capital firm Beat Capital Partners and insurance investment vehicle Paraline UK announced they plan to merge – in a move that is designed “to enhance and further build Beat’s platform to support independent underwriting businesses.” As a result of …

QBE’s Restructuring Gains Traction with Its Focus on Profitable Underwriting

QBE’s restructuring over the last year has focused on exiting loss-making businesses and portfolios, while rigorously emphasizing profitable underwriting across the group. Good progress has been made — as demonstrated in the financials, along with strong premium rate increases, top …

UK Insurers Push Ahead with Brexit Plans in Absence of Trade Deal: A.M. Best Report

In the absence of a Brexit trade deal between the United Kingdom and the European Union, insurers in the UK have accelerated their plans to establish new EU subsidiaries and ensure business continuity after Brexit, according to a report published …