Lloyd’s News

The Wartime Risk Insurers Making Fortunes Keeping Trade Moving

Inside faceless office buildings scattered around London, a niche corner of the insurance market is keeping hundreds of billions of dollars in commodity trade moving through some of the world’s most dangerous waters. As conflicts rage in the Middle East …

ConnectUW Holdings Opens for Business at Lloyd’s

ConnectUW Holdings, the parent company of Connect Underwriting and other specialist reinsurance MGAs, announced it will take ownership of Lloyd’s box number 356 from Dec. 23, 2024. Situated in the company market section on Gallery 3, ConnectUW will initially offer …

Lloyd’s of London Trade Body Examines Planned Conduct Overhaul

Lloyd’s of London members have set up a working party to examine the commercial insurance market’s plans to overhaul its conduct rules, a trade body said on Friday, following criticism of the strengthened powers in the new rules. Lloyd’s has …

AIG Leads Launch of Reinsurance Syndicate at Lloyd’s

American International Group announced it has led the launch of a new reinsurance syndicate at Lloyd’s. Commencing underwriting from Jan. 1, 2025, Syndicate 2478 will be a multi-year participant on AIG’s outwards reinsurance program. The syndicate, which will be managed …

Future Pandemic Could Cause $13.6 Trillion in Economic Losses Over 5 Years: Lloyd’s

Another human pandemic could cause economic losses of $13.6 trillion for the global economy over a five-year period, commercial insurance market Lloyd’s of London predicted. The impact would mainly be from disruption across global industries due to local lockdowns and …

Inigo Owners Said to Weigh Options for Lloyd’s of London Insurer

The owners of Inigo Ltd. are exploring options for the British specialist insurance group including a potential sale, according to people familiar with the matter. The shareholders, which include buyout firm JC Flowers & Co. and Qatar Investment Authority, are …

Oak Reinsurance Gets Permission From Lloyd’s to Begin Underwriting in January

Oak Reinsurance (OAK Re), the London-based reinsurance company, announced that its Lloyd’s Syndicate 2843 has received permission to begin underwriting business incepting from Jan. 1, 2025. This follows the approval in principle that was received in September 2024. OAK Re …

Lloyd’s of London Shakes Up IT, Operations Teams

Commercial insurance market Lloyd’s of London is restructuring its data, operations and change departments, which will involve outsourcing some of those units’ work, a Lloyd’s spokesperson said on Thursday. It was too soon to say what the impact would be …

Renewable Energy Offers a Cost and Opportunity to Insurance Sector

Policyholders in the renewable energy insurance market are paying between 20%-40% more for cover today than a year ago as insurers seek to recover the cost of “devastating claims” in regions hit by natural catastrophes, industry sources say. Unpredictable weather …

People Moves: Aon Underwriting Managers Appoints LSM’s Clapham as CUO; Lloyd’s Taps Aviva’s Adams as Chief People Officer, Succeeding Gomez

This edition of International People Moves details appointments at Aon Underwriting Managers and Lloyd’s of London. A summary of these new hires follows here. Aon Underwriting Managers Appoints LSM’s Clapham as CUO Aon plc, the global professional services firm, announced …