Lloyd’s News

Lloyd’s Broker Charged Over Alleged Ecuador Bribes

UK fraud cops have charged an insurance broker with bribery, after a four-year probe into alleged corruption involving state-run insurance contracts in Ecuador. The Serious Fraud Office accused United Insurance Brokers Ltd. of failing to prevent associates from bribing state …

Premium Growth Is Good but Disciplined Growth Is Better: Lloyd’s Execs

The Lloyd’s executives said the market has continued to demonstrate its value to stakeholders by delivering 6.5% premium growth while maintaining underwriting discipline. Lloyd’s saw a continuation of positive returns with profit before tax of £9.6 billion ($12.4 billion) during …

Lloyd’s Said It Will Lose $2.3B From LA Wildfires

Lloyd’s this week said it will lose $2.3 billion from the Los Angeles wildfires in January, adding to the number of companies that have paid out more than $1 billion in losses from the catastrophe. The company revealed the losses …

RiverStone Int’l Signs Reinsurance-to-Close Deal With Asta for 2022 Year of Account

RiverStone International, the legacy acquisition company, announced it has signed a reinsurance-to-close contract with Asta Managing Agency, under which the 2022 underwriting year of account of Hampden Risk Partners (HRP) Syndicate 2689 will close into Riverstone International Syndicate 3500. The …

Specialty Re/Insurer Convex to Enter Lloyd’s With Syndicate 1984

Convex Group Ltd., the international specialty insurer and reinsurer, announced it has received in-principle approval to launch Lloyd’s Syndicate 1984, which will commence underwriting in April 2025. Convex said it has worked with its advisers Gallagher Re and Asta, which …

Avolon, BOC Settle Lawsuit Against Insurers Over Stranded Russian Jets

Avolon and BOC Aviation, two of the world’s largest aircraft lessors, have settled lawsuits in the Irish courts against insurers over jets stranded in Russia following Western sanctions in 2022, they said on Friday. Lessors are suing dozens of insurers …

People Moves: Lloyd’s Promotes Cliff to CFO, Succeeding Keese; Ryan Re Appoints BMS’ Ryan as EVP to Lead Strategic Business Development

This edition of International People Moves details appointments at Lloyd’s and Ryan Re. A summary of these new hires follows here. Lloyd’s Promotes Cliff to CFO, Succeeding Keese Lloyd’s, the insurance and reinsurance marketplace, announced the appointment of Alexandra Cliff …

People Moves: Lloyd’s Names AIG Veteran Baugh as Council Member; White Bear Managers Taps Former Castel Bloodstock Underwriters Woodward and Long

This edition of International People Moves details appointments at Lloyd’s and White Bear Group. Details of these new hires follows here. Lloyd’s Appoints AIG Veteran Baugh as New Council Member, Succeeding Maidment Lloyd’s, the insurance and reinsurance marketplace, announced that …

Lloyd’s Syndicate AEGIS London Launches Portfolio Solutions Division

Lloyd’s syndicate AEGIS London announced the creation of a new Portfolio Solutions division that will focus on following third-party underwriting expertise in the London market. Led by respected underwriter Richard Palengat, Portfolio Solutions will allow AEGIS London to engage with …

Lloyd’s CEO Neal Appointed Aon CEO of Reinsurance, Chairman of Climate Solutions

Insurance broker Aon plc announced the appointment of John Neal as global CEO of Reinsurance and chairman of Climate Solutions, effective following the conclusion of Neal’s notice period at Lloyd’s of London where he has served as CEO since October …