Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Lloyd’s Kiln Covers Drug Company Patents
Apr 1 2002 // London’s Financial Times carries a report that Lloyd’s underwriter Kiln has written policies insuring an unidentified “multinational pharmaceutical group” against challenges to some of its...
Lloyd’s Completes $5 Billion Trust Fund Transfer
Mar 29 2002 // Lloyd’s of London announced that it has completed the transfer of over $5 billion to its trust funds in the United States since September 2001, and has fulfilled the arrangement made with the National Association of...
Moody’s Report Discusses Effect of Decreasing Number of Lloyd’s Syndicates
Mar 28 2002 // A report by Moody’s Investors Service discusses the long term effects of the dwindling number of Lloyd’s syndicates, and concludes that, although the trend marks a decline in Lloyd’s market share, it will...
Cox to Run Off $142 Million in Lloyd’s Business as Part of Restructuring
Mar 22 2002 // Hit heavily by the Sept. 11 attacks, with estimated losses from the events now reaching £125 million ($178 million), Cox insurance, which writes both retail coverage and participates in the Lloyd’s market,...
Lloyd’s Seems to be Weathering the Storm
Mar 11 2002 // After the record losses from the WTC attacks, two cash calls, a buffeting by the rating agencies, a proposed reorganization of its basic financial structure and an audit by the National Assoc-iation of Ins-urance...
Lloyd’s Seems to be Weathering the Storm
Mar 11 2002 // Elton John’s “I’m Still Standing” could become Lloyd’s theme song—it’s a better fit than “Candle in the Wind.” After the record losses from the WTC attacks, two cash calls,...
Global-Reinsurance Industry Foresees Growth in Online Services
Mar 11 2002 // If anyone needs proof that the Internet is no longer a curiosity, the reinsurance industry is a good place to start looking. Reinsurance companies aren’t generally known for the rapidity with which they adopt...
Lloyd’s Still on ‘Watch Negative’
Mar 11 2002 // S&P announced that its “A” insurer financial strength rating on the Lloyd’s insurance market will remain on CreditWatch with negative implications, but expects the placement to be resolved by the end...
S&P Keeps Lloyd’s on Watch Negative
Feb 21 2002 // Standard & Poor’s announced that its single-‘A’ insurer financial strength rating on the Lloyd’s insurance market will remain on CreditWatch with negative implications, but said it...
Report Indicates Lloyd’s Will Pass NAIC Audit
Feb 15 2002 // Lloyd’s is apparently set to receive a clean bill of financial health from the auditors who’ve been examining its accounts, and evaluating its reserves, as part of last November’s agreement with the...
Lloyd’s Issues $803 Million Cash Call
Feb 6 2002 // Lloyd’s of London confirmed analysts’ expectations with its second cash call to syndicate members in four months, asking them to provide an additional £546 million ($802.8 million) to cover Lloyd’s...
Lloyd’s May Issue Cash Call Next Week
Feb 1 2002 // The London insurance market is awash in rumors that Lloyd’s may issue another cash call sometime next week in order to raise additional funds to help pay the estimated $2.7 billion in claims resulting from the...
S&P Comments on Lloyd’s Reform Proposals
Jan 30 2002 // Standard & Poor’s has issued a bulletin which discusses the proposed structural reforms announced by Lloyd’s of London on January 17. While warning of numerous hurdles to be overcome before any of the...
Fundamental Changes Proposed for London Market
Jan 28 2002 // The news burst suddenly, but not entirely unexpectedly, on the insurance industry. Confirming earlier reports, the 18-member Council of Lloyd’s issued a series of proposals to drastically restructure the way the...
Lloyd’s Appoints Jeremy Pinchin as Sept. 11 Claims Coordinator
Jan 25 2002 // Lloyd’s of London has appointed Jeremy Pinchin as Special Counsel to coordinate claims connected with the Sept. 11 terrorist attacks. The position was created specifically to handle Sept. 11 claims. ” Mr....
Lloyd’s Tables Radical Reforms For Consultation
Jan 18 2002 // Confirming earlier reports (See IJ Website Jan. 16), Lloyd’s announced that its ruling body, the Council of Lloyd’s, has put forth a radical plan to restructure the way the 300 year old market does business. If...
A.M. Best Affirms Lloyd’s
Jan 14 2002 // A.M. Best Co. affirmed the “A-” rating of the Lloyd’s market and has removed the “under review” status of the rating, which was applied in the aftermath of the terrorist attacks in the U.S. on...
A.M. Best Affirms Lloyd’s
Jan 14 2002 // A.M. Best Co. affirmed the “A-” rating of the Lloyd’s market and has removed the “under review” status of the rating, which was applied in the aftermath of the terrorist attacks in the U.S. on...
A.M. Best Gives Goshawk Re A- (Excellent) Rating
Jan 4 2002 // A.M. Best Co. assigned an initial financial strength rating of A- (Excellent) to Goshawk Reinsurance Limited (Goshawk Re), the recently established Bermuda-based subsidiary of the U.K.’s Goshawk Insurance Holdings...
Individual Names Continue to Leave Lloyd’s
Jan 3 2002 // The number of individual investors in Lloyd’s syndicates, known as Names, continues to decline, falling from 2,852 last year to 2,490 currently, a 13 percent decrease. As corporate capital becomes increasingly the...
