Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
S&P’s Positive Reaction to Equitas/National Indemnity Deal
Oct 20 2006 // Standard & Poor’s Ratings Services reacted positively to the news that Berkshire Hathaway’s National Indemnity will initially back and could eventually take over Lloyd’s run-off vehicle Equitas Ltd....
Lloyd’s Head of Exposure Management Calls for ‘Open Source’ Models
Oct 19 2006 // In an address to the 20th Annual International Reinsurance Congress in Bermuda, Lloyd’s Head of Exposure Management, Paul Nunn, suggested that the time was right for the industry to develop the concept of “open...
Lloyd’s CEO Gives CII Keynote Speech
Oct 6 2006 // Richard Ward, in his first major speech since becoming Lloyd’s CEO, opened the U.K.’s Chartered Insurance Institute’s (CII) annual conference in Glasgow yesterday Oct. 5 with a discussion of the...
Lloyd’s Updating Rules for ‘Names’
Oct 5 2006 // Until 1994, i.e. for over 300 years, “Names,” or individual wealthy investors were Lloyd’s source of capital to back its underwriting syndicates. The introduction of corporate capital changed that...
Chaucer Forms Singapore Sub
Sep 29 2006 // The London-based Chaucer Syndicates Limited, the managing agency subsidiary of Lloyd’s insurer Chaucer Holdings PLC, has announced plans for the formation of a new Singapore-based company to underwrite Asian...
Starr Forms New Lloyd’s Syndicate
Sep 29 2006 // Pending regulatory approvals, Lloyd’s 66th syndicate will start trading next month. Syndicate 1919, which has already received Lloyd’s approval, plans to begin underwriting on October 1st. The new syndicate,...
Lloyd’s Posts $2.55 Billion H1 Profit
Sep 27 2006 // Lloyd’s announced overall first half profits of £1.3 billion ($2.553 billion), slightly below the £1.38 billion ($2.61 billion) it earned in the same period of 2005. Unfortunately Katrina, Rita and Wilma wiped out...
Reinsurers adopt ‘wait and see’ posture at Rendezvous
Sep 25 2006 // For the first time in two years the high and mighty from the reinsurance world gathered for their annual Rendezvous in Monte Carlo without having to face the consequences of an ongoing catastrophe (Ivan in 2004 and Katrina...
Reinsurers adopt ‘wait and see’ posture at Rendezvous
Sep 25 2006 // News Currents For the first time in two years the high and mighty from the reinsurance world gathered for their annual Rendezvous in Monte Carlo without having to face the consequences of an ongoing catastrophe (Ivan in...
Lloyd’s Tolle Discusses Reinsurance Securitization Growth
Sep 22 2006 // A bulletin on the Lloyd’s Website (www.lloyds.com) gives highlights from a recent conference, held at the Reinsurance Rendezvous in Monte Carlo, on the continuing development and “convergence of traditional...
Lloyd’s Implements Xchanging Claims Handling System
Sep 20 2006 // In what it called “a good step towards eradicating paper in the market,” Lloyd’s announced the implementation of “an electronic filing cabinet,” which has been launched “for handling...
Lloyd’s Market Process Reform Gains Momentum
Sep 20 2006 // Momentum is usually used in the context of football games and political campaigns, not in referring to 300-year old insurance markets. But Lloyd’s certainly seems to be gathering momentum when it comes to business...
Eight Lloyd’s Members to Enter Offshore Energy Center Hall of Fame
Sep 18 2006 // Eight members of the Lloyd’s market are to be honored at the end of the month by becoming some of the first insurance professionals to be inducted into the Offshore Energy Center (OEC) Hall of Fame. A bulletin on the...
Reinsurers Adopt ‘Wait and See’ Posture at Rendezvous
Sep 13 2006 // For the first time in two years the high and mighty from the reinsurance world have gathered for the annual Rendezvous in Monte Carlo without having to face the consequences of an ongoing catastrophe (Ivan in 2004 and...
CV Starr Launching Lloyd’s Syndicate
Sep 12 2006 // Lloyd’s has approved a new syndicate, Syndicate 1919, which will be capitalized by C.V. Starr (25%) and Starr International Investments Limited (75%). The syndicate aims to start underwriting on October 1, 2006,...
RI3K’s New ‘V3’ Trading System Promises Revolution in Processing
Sep 11 2006 // London-based RI3K announced a new innovative processing system for Lloyd’s and the London market that could revolutionize the way policies are produced. The new “V3” system replaces RI3K’s current...
Singapore PM Urges Lloyd’s to Expand Asian Links
Sep 11 2006 // Lloyd’s Chairman Lord Levene welcomed His Excellency Lee Hsien Loong, Prime Minister of Singapore, and a host of senior executives from across the insurance market, government and business at a dinner held in the...
Best Affirms ‘A’ Rating of Markel’s Lloyd’s Syndicate 3000
Sep 8 2006 // A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and issuer credit rating (ICR) of “a” of Lloyd’s Syndicate 3000. The outlook on both ratings remains...
Beazley Launches Lloyd’s Facility for U.S. Commercial Property Cat Risks
Sep 6 2006 // The London-based Beazley Group plc, a leading Lloyd’s insurer, has created a facility in the Lloyd’s market for catastrophe – exposed U.S. commercial property risks. Beazley said its “Quincat...
Hiscox Lloyd’s Syndicate ‘in Discussions’ on Bermuda Sidecar
Sep 5 2006 // The U.K.’s Hiscox plc announced that its Board of Directors, is “in discussions which could lead to the creation of a new reinsurer, which will only reinsure Hiscox Syndicate 33,” which it manages, and in...
