Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Decision in Lloyd’s Lawsuit Expected
Oct 30 2000 // The judge’s decision in the Jaffray case against Lloyd’s is expected within the next two weeks. The suit by some 200 “Names” seeks damages for fraud related to their recruitment as investors by...
Lloyd’s-IUA Name Xchanging As Partner For Data Processing
Oct 24 2000 // Lloyd’s and the International Underwriting Association (IUA) jointly announced the selection of information technology specialist Xchanging as a partner in a joint venture which will develop and operate a unified...
Lloyd’s ‘A+’ Affirmed
Oct 2 2000 // The “A+” insurer financial strength rating (FSR) on U.K.-based Lloyd’s insurance market was affirmed by Standard & Poor’s (S&P), which indicated that, despite poor results currently...
Hiscox 1st Half Profits Lowered by Lloyd’s Losses
Sep 29 2000 // Hiscox Plc, which does business independently and in the Lloyd’s market as syndicate 33, saw 1st half profits drop to £100,000 ($146,000) from £1.4 million ($2.04 million) in the same period last year as a result...
Formula 1 Gets Bigger – Premiums Too
Sep 25 2000 // Ferrari’s Michael Schumacher may have just won the first U.S. Formula 1 race to be held in 9 years, but that doesn’t mean his insurance premiums are going to be reduced. According to Lloyd’s, policies...
Report Lloyd’s/IUA Forming Joint Venture With Tech Firm
Sep 25 2000 // A report in the Times of London indicates that the joint Lloyd’s/ IUA (International Underwriting Association) Forum, set up last year to explore ways of harmonizing procedures between the two groups and making the...
S&P Affirms Lloyd’s A+ Rating
Sep 19 2000 // Despite expected losses from 1997 through this year, Standard & Poor’s reaffirmed the Lloyd’s insurance market’s A+ insurer financial strength rating. S&P cited Lloyd’s “very strong...
Lloyd’s Syndicate To Offer Tripwire Cyber Insurance
Sep 12 2000 // Tripwire Inc. a leading U.S. provider of “integrity assessment security solutions,” headquartered in Portland, has joined with Lloyd’s HAW Syndicate “to include Tripwire software as a recommended...
Lloyd’s Updates “Open Form” Salvage Agreement
Sep 4 2000 // Lloyd’s announced that it has revised one of the best known documents in the maritime world – The Lloyd’s Open Form. Designed to speed rescue and salvage operations for ships in distress, the document...
Lime Street Meets Silicon Valley; New Initiatives Transform Lloyd’s
Sep 4 2000 // Lloyd’s is adapting to modern business methods and upgrading its business systems so rapidly that it promises to meet, if not surpass, the vision that Chairman Max Taylor first set out in “Priorities for...
Moody’s Awards First FSR Rating To Lloyd’s Syndicate Managed by ACE
Aug 24 2000 // Moody’s Investors Service awarded Syndicate 2488, managed by ACE Global Markets, a Financial Strength Rating (FSR) of Aa2 (Excellent). This marks the first time that a Lloyd’s syndicate has been rated and...
Moody’s Increases Estimates of Lloyd’s Losses
Aug 22 2000 // Moody’s Investors Service issued a new statement on Monday which forecast increased losses at Lloyd’s of as much as £3 billion ($4.5 billion) for the last three years. Moody’s previous loss estimates,...
S&P: Most New London Market Capacity Headed To Lloyd’s
Aug 10 2000 // A new report by Standard and Poor’s says the expansion of London-based insurance business is mostly taking place at Lloyd’s of London. The report, Insurance Market Profiles, says that, although the London...
Lloyd’s Chair to Resign, Position Goes Part-time
Aug 7 2000 // Max Taylor, the current chairman of Lloyd’s, will be leaving the position he has held for the past three years when his term is up in December 2000. The Council of Lloyd’s also announced that starting in 2001,...
Lloyd’s Chair to Resign, Position Goes Part-time
Aug 7 2000 // Max Taylor, the current chairman of Lloyd’s, will be leaving the position he has held for the past three years when his term is up in December 2000. The Council of Lloyd’s also announced that starting in 2001,...
Lloyd’s Syndicate 529 shut down
Aug 4 2000 // The license of non-marine syndicate 529 has been revoked by the Lloyd’s Regulatory Board. The action prohibits the syndicate’s managing agency, Sterling Underwriting Agencies Ltd., from underwriting or renewing...
San Diego Padres Sue Lloyd’s of London
Aug 3 2000 // The San Diego Padres filed a lawsuit in U.S. District Court against Lloyd’s of London for the insurance consortium’s alleged refusal to pay on a policy the ball club took out on the contract of pitcher Randy...
Lloyd’s Changes Role of Chairman, Max Taylor To Leave
Jul 27 2000 // Lloyd’s Chairman Max Taylor will leave the company in December due to changes enacted by the council, which will revert the position to part time beginning next year. The chairman’s role moved to full time in...
CLOSING ARGUMENTS FOR LLOYD’S
Jul 24 2000 // The British High Court heard closing statements on July 12 in the case of Lloyd’s vs. Jaffray, in which more than 200 Names claimed they were defrauded by Lloyd’s. The Names are a portion of the group that...
Lloyd’s of London Sells Aviation Unit to Charles Taylor
Jul 19 2000 // Charles Taylor Group has acquired the business of Lloyd’s Aviation, the second largest of its kind in the London market with 30 percent of business volumes for $3.89 million. The deal is a further step in the...
