Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Max Cap Completes Lloyd’s Acquisition
Nov 10 2008 // The Bermuda-based Max Capital Group has completed the previously announced acquisition of Imagine Group (UK) Limited, a Lloyd’s insurance operation, from Imagine Insurance Company Limited. “Imagine...
Piracy Attacks Boost Demand for Kidnap & Ransom Coverage
Oct 31 2008 // Pirate attacks on the world’s shipping have been increasing at an alarming rate. “Last week the Piracy Reporting Centre (PRC) confirmed a dramatic increase in piracy attacks on merchant vessels in the third...
Ratings: Max Capital, Flagstone Re (Africa), VIG RE, Alliance, Syndicate 1414
Oct 30 2008 // Standard & Poor’s Ratings Services has affirmed its ‘BBB-‘ counterparty credit ratings on Max Capital Group Ltd. and Max USA Holdings Ltd. The outlook on both companies remains positive. “The...
Montpelier Re Forms Lloyd’s Managing Agent
Oct 24 2008 // Montpelier Re Holdings Ltd. announced that it has received approval from the UK’s Financial Services Authority (FSA) and Lloyd’s to establish a wholly owned Lloyd’s Managing Agent subsidiary. The new unit...
Lloyd’s Estimates Gustav/Ike Net Claims at Around $2.34 Billion
Oct 21 2008 // Lloyd’s has announced that its provisional loss estimates for Hurricanes Gustav and Ike will be approximately £1.3 billion ($2.34 billion). The estimate covers both on and offshore claims from both storms, and...
Loucaides Joins Lloyd’s Jubilee Managing Agency
Oct 21 2008 // Jubilee Managing Agency, a specialist Lloyd’s insurer, has announced the appointment of Andreas Loucaides, the former CEO of Catlin UK, as Director of Underwriting “to expand its portfolio and diversify its...
Flagstone Re Buying Lloyd’s Marlborough Underwriting Agency
Oct 20 2008 // Bermuda-based Flagstone Reinsurance Holdings Limited has entered into an agreement to acquire Marlborough Underwriting Agency Limited, the managing agency for Lloyd’s Syndicate 1861. The Syndicate underwrites a...
ACE Extends Commercial D&O Offering into Lloyd’s
Oct 17 2008 // ACE Europe announced that it has extended broker access to its market-leading Directors & Officers (D&O) portfolio by writing commercial D&O risks at Lloyd’s. Commercial D&O is now available...
TriSystems ‘Universal Messaging’ to Support Electronic Lloyd’s Trading
Oct 13 2008 // London Market reform technology specialists TriSystems announced that their Universal Messaging Gateway (UMG) suite is now available via the Internet in a move, which the Company says will “be widely seen as a...
Ratings Roundup: Sovag, Syndicate 2003, Polish Re, Tunis Re
Sep 26 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and the issuer credit rating (ICR) of “bbb” of Germany’s SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft SOVAG...
Lloyd’s Six Month Profits Fall 47.5% to $1.76 Billion
Sep 25 2008 // Lloyd’s has reported interim results, which show a marked decline in profits for the first six months of 2008. Nonetheless, compared to what’s been happening in the global financial sector (where Lloyd’s...
Lloyd’s Welcomes its New Graduates
Sep 23 2008 // Lloyd’s has welcomed the first group of candidates to be accepted in to its graduate program. The nine graduates have spent the past week learning about Lloyd’s and the London Insurance Market, meeting their...
Best Affirms Hiscox Lloyd’s Syndicate 33 ‘A’ Ratings
Sep 18 2008 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 33, which is managed by Hiscox Syndicates Limited...
Lloyd’s Execs Comment on ‘Mixed Outlook’ for Marine Sector
Sep 17 2008 // Rolf Tolle, Lloyd’s Franchise Performance Director, speaking at the International Union of Marine Insurers’ Conference in Vancouver, noted that low inflation, huge rises in commodity prices and the growth of...
Lloyd’s Sees NAIC’s Decision on Reinsurance Collateral ‘This Month’
Sep 16 2008 // A bulletin on the Lloyd’s web site (www.lloyds.com) notes that the National Association of Insurance Commissioners (NAIC) has confirmed it will meet “to consider the proposal to end collateral requirements...
UK High Court Issues Restraining Order on Lloyd’s Former ‘Names’
Sep 11 2008 // The UK High Court has issued a civil restraining order, which enjoins former Lloyd’s Names from bringing further lawsuits against Lloyd’s without first seeking permission from the court to do so. Lloyd’s...
Lloyd’s, RMS Coastal Flood Study Urges Adapting to Changing Conditions
Sep 10 2008 // A new report published by Lloyd’s, as part of its “360 project,” and Risk Management Solutions (RMS), warns that “without adaptation, insurance losses from coastal flooding for high-risk properties...
Gao to Head Lloyd’s China Re Office
Sep 9 2008 // Lloyd’s announced the appointment of Eric Gao, formerly Director & General Manager of Swiss Re’s Beijing branch, as its new CEO for Lloyd’s Reinsurance Company (China) Ltd. He “will focus on...
Lloyd’s Oxygen Opens Bermuda Subsidiary Company
Sep 9 2008 // Oxygen Insurance Brokers, a Lloyd’s accredited London Market insurance intermediary, announced the expansion of their specialist reinsurance division, Oxygen Re, with the incorporation of Oxygen Insurance (Bermuda)...
Ratings: Hull Club, Lloyd’s Syndicate 623/2623, Flagstone Re, First Net
Sep 8 2008 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on marine mutual insurer Norwegian Hull Club (NHC) to ‘A-‘ from...
