Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Insurtech Blink Launches Non-Damage Business Interruption Parametric Solution
Nov 20 2020 // Irish insurtech Blink has launched a hurricane non-damage parametric insurance solution which provides liquidity to small and medium-sized businesses in the immediate aftermath of a natural disaster. Called “Blink...
AXA XL Promotes Harris to Head of Energy, UK & Lloyd’s Market
Nov 19 2020 // AXA XL Insurance announced that Nicola Harris has been promoted to head of Energy, UK & Lloyd’s market. In her new role, Harris is responsible for developing the UK energy book, executing strategy and designing...
Global COVID-19 Insurance Losses to Be Higher than Early Estimates: Lloyd’s Chairman
Nov 19 2020 // Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday. Carnegie-Brown told...
How Lloyd’s Underwriters Are Viewing Today’s U.S. Casualty Insurance Environment
Nov 19 2020 // Today’s Lloyd’s of London market for casualty insurance is marked by rising prices, reduced capacity, and buyers embracing more self-insurance, according to underwriters at Lloyd’s. It is also marked by...
Enstar to Sell Starstone’s Lloyd’s Managing Agency to New Re/Insurance Venture Inigo
Nov 18 2020 // Enstar Group Ltd. and Stone Point Capital LLC announced they have signed definitive agreements to sell StarStone Underwriting Ltd. (SUL), the Lloyd’s managing agency, together with the right to operate Lloyd’s...
How Lloyd’s Underwriters Are Viewing Today’s U.S. Property Insurance Environment
Nov 12 2020 // While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may...
Coverys Managing Agency Placing Lloyd’s Syndicate 1991 Into Runoff
Nov 12 2020 // Coverys Managing Agency Ltd. announced that its DTW Syndicate 1991 at Lloyd’s of London will stop accepting new and renewal business starting December 31, 2020. “Every effort has been made to implement...
Hamilton Promotes 3 at Lloyd’s Unit as Managing Agency CEO, CUO Resign
Nov 10 2020 // Hamilton Insurance Group announced three promotions in the leadership team at its Lloyd’s operations following the resignations of Hamilton Managing Agency Limited CEO Tim Glover and Chief Underwriting Officer David...
Digital Lloyd’s Syndicate Ki to Provide Howden with Follow Capacity
Nov 9 2020 // Fully-digital Lloyd’s of London syndicate Ki and global insurance broker Howden announced a partnership in which Ki is committing to provide substantial follow capacity for Howden’s clients and business...
Coverys European Holdings Subsidiary Acquires Lloyd’s Italian Coverholder Gava
Nov 5 2020 // AEC Wholesale Group, a subsidiary of Coverys European Holdings (CEH), announced the acquisition of Gava S.R.L, a Lloyd’s coverholder based in Brindisi, Italy. AEC Group will assume 100% ownership of Gava, bringing...
Lloyd’s Drops Plan to Form Electronic Exchanges, Opting to Work with Existing Platforms
Nov 5 2020 // Lloyd’s of London has dropped ambitious plans to set up its own electronic exchanges and will work with other existing platforms to speed up the underwriting process and cut costs, the commercial insurance market...
Private Equity Investors Pelican Ventures, J.C. Flowers to Buy Ariel Re from Argo Group
Nov 2 2020 // Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise, announced they have agreed to acquire reinsurance franchise Ariel Re from Argo Group for an undisclosed...
Pennsylvania Judge Allows COVID Business Loss Suit Against Lloyd’s to Advance
Oct 30 2020 // Lloyd’s of London lost its initial bid to squelch a coronavirus business interruption lawsuit brought by a Philadelphia bar and restaurant. Judge Gary S. Glazer of the Court of Common Pleas in Philadelphia turned...
Lloyd’s Approves Syndicate-in-a-Box, Picnic Syndicate 2460, to Support Mutuals
Oct 22 2020 // Asta, the third-party managing agent at Lloyd’s, announced the Council of Lloyd’s granted in-principle approval for the launch of Picnic Syndicate PIC 2460, a syndicate-in-a-box (SIAB). Picnic will commence...
Cryptocurrency Exchange Bitstamp Adds Lloyd’s-Backed Crime Insurance Policy
Oct 22 2020 // Bitstamp, a cryptocurrency exchange, has expanded the insurance offered to its customers with an additional crime insurance policy. The crime insurance policy is offered by specialist insurance brokers, Paragon...
Lloyd’s Reviews Product Design of Insurance Contracts in Response to COVID-19
Oct 12 2020 // Lloyd’s of London is reviewing the way insurance products are designed and sold as it calls for simpler products in response to the coronavirus pandemic, the commercial insurance market said on Monday. Insurers have...
London Company Market Grew 10% in 2019
Oct 8 2020 // Premium income for the London company market grew by 10% last year with £21.436 billion of large commercial and wholesale risks underwritten by firms in the City. A new report from the International Underwriting...
Exiting Insurers, Premium Hikes Frustrate Canada’s Struggling Hospitality Industry
Oct 8 2020 // Canadian hospitality businesses, already reeling from the downturn sparked by the coronavirus pandemic, are facing yet another existential threat as insurance companies spike premiums or exit the space, citing losses and...
Judges Nix Consolidating COVID Business Interruption Suits Against Big Insurers
Oct 4 2020 // A panel of federal judges has decided against consolidation of hundreds of lawsuits seeking coverage for coronavirus-related business interruption claims against major national insurers Travelers, The Hartford, Cincinnati...
White Mountains to Buy 72% Stake in Lloyd’s Insurer Ark for Growth in Hardening Market
Oct 1 2020 // White Mountains Insurance Group, Ltd. announced it has entered into a definitive agreement to invest fresh capital in and to acquire a majority interest in Ark Insurance Holdings Ltd., the parent company of Ark Syndicate...
