Lloyd’s News

Black Sea Mine Removal Needed Before Ukraine Grain Can Be Shipped, Insurers Return

As the United Nations tries to broker a path for grain from Ukraine and temper worries about a global food crisis, hundreds of mines laid along the Black Sea present a practical nightmare that will take months to resolve even …

Lloyd’s Is Working With UK, Global Regulators to Implement Russia Sanctions

Lloyd’s of London, the world’s oldest insurance market, said on Wednesday that it was working closely with British and international governments and regulators to implement global sanctions against Russia. “Lloyd’s supports and remains focused on the delivery of a global …

Lloyd’s of London AGM to Go Virtual on Threat of Climate Protests

Commercial insurance market Lloyd’s of London is encouraging members of its 100-odd syndicates to attend its annual general meeting next week online rather than in person, due to the threat of climate protests. Since Lloyd’s sent out invitations for the …

London Market Continues to Benefit From Rising Rates and Other Tailwinds: AM Best

Upward premium rate momentum is expected to continue support underlying performance for the London market, despite mounting challenges connected to climate modeling, claims inflation and the war in Ukraine, according to AM Best. “London market re/insurers have enjoyed several consecutive …

People Moves: Lloyd’s Names Hernandez Mkt. Dev. Mgr., Central America; Chaucer Taps Argenta’s Sheppard for Renewables; H.W. Kaufman Promotes Kaufman Davis

This edition of International People Moves details appointments at Lloyd’s, Chaucer, and H.W. Kaufman Group. A summary of these new hires follows here. Lloyd’s Names Hernandez Market Development Mgr., Central America Lloyd’s, the re/insurance marketplace for commercial, corporate and specialty …

Ending Collateral Requirements for Non-U.S. Reinsurers – It’s Been a Long Time Coming

Financially strong EU and UK reinsurers will finally see the end of collateral requirements for business they write in the United States — changes that have been more than 20 years in the making. Effective Oct. 1, 2022, reinsurers, which …

Aspen Becomes 17th Insurer to Stop Insuring Canada’s Trans Mountain Pipeline

Lloyd’s of London syndicate Aspen Insurance has decided to cut ties with the existing Trans Mountain pipeline when its current insurance policy expires this summer, according to the climate activist group, Coal Action Network. Aspen joins 16 other insurers that …

Claims Inflation, Weakening Price Momentum Could Hit Reinsurer, London Mkt Profits

The global reinsurance and London market sectors face increased risks from rising claims inflation, financial market volatility and weakening price momentum, according to a commentary published by Fitch Ratings. As a result, Fitch has revised its outlooks for these sectors …

Oil Firms, Including ExxonMobil, Obtain Injunctions to Stop UK Climate Protests

Three firms involved in Britain’s oil sector, including ExxonMobil, have secured injunctions to stop protests by climate change activists which have caused widespread disruption this month, the government said on Friday. Environmental groups such as Extinction Rebellion and Just Stop …

EU’s Tweak to Sanctions Allows Some Aircraft Lessors to Sell Stranded Jets to Russia

An amendment to European Union sanctions last week created a potential path for some aircraft financiers to sell jets held in Russia to the airlines now operating them without permission. The measure, published April 8, will allow EU governments to …