The disruption currently taking place in insurance and reinsurance markets is at its most acute since the culmination of the financial crisis. Industry reserves, deteriorating earlier catastrophe losses and eye-popping expense ratios are combining with macro headwinds, changes in investor …
Lloyd’s of London has unveiled a blueprint for action to facilitate its Future at Lloyd’s project, which aims to “build the most advanced insurance marketplace in the world.” This first blueprint, called “Blueprint One,” sets out six ideas of improved …
The Board of the London Market Group (LMG) announced that the London Market Target Operating Model (LM TOM) has been wound down in its current form, having delivered the majority of proposed solutions, which are now in “run” mode and …
Insurers in the Lloyd’s of London market have switched 45% of their business to an electronic platform, ahead of target, the platform said on Monday. The insurance industry has been slower to move to electronic trading than other parts of …
Lloyd’s of London plans to halve the cost of buying insurance through the 330-year-old market as part of a strategy to restore the fortunes of the company. Chief Executive Officer John Neal said he planned to cut the cost of …
Lloyd’s of London, the world’s oldest insurer of seafaring vessels, is facing its own perfect storm. Old-fashioned business practices, exposure to natural disasters, competition from rival centers and Brexit are all threatening Lloyd’s reputation as the place to insure anything …
More than 50,000 risks have been bound on the London market’s electronic placement platform, with nearly 12,500 risks bound in the last three months alone, announced the board of the Placing Platform Ltd. (PPL). “This is another watershed moment for …
Momentum is building in the London market for wider adoption of electronic placement of risks, said the London and International Insurance Brokers’ Association (LIIBA), which announced that more than 100 of its members have now committed to the Placing Platform …
By creating an innovative and nimble operating platform, SSL Endeavour, London-based Lloyd’s broker, aims to attract and retain the best entrepreneurial brokers who are freed up to create innovative client solutions, said Group Managing Director Karen Allen. “Being a niche …
The London market’s electronic placing platform, PPL Ltd., announced a platform update. PPL said the new release includes: An enhancement so the broker can now select multiple stamps for facilities. The underwriter response is identical to open market functionality; underwriters …
