Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Jail Time for Consultant Nabbed Selling Policies Under Lloyd’s Name
Oct 29 2004 // Robert Damon-Aspen has been jailed for two and a half years for deception conducted through his internet-based insurance intermediary business CFT Group Insurance Services. He reportedly used the Internet to take premiums...
London’s Muted Reaction to Spitzer Investigations
Oct 28 2004 // The London market in general and Lloyd’s in particular has not been overly verbose in commenting on New York State Attorney General Eliot Spitzer’s ongoing investigation of the insurance industry. Apart from a...
St. Paul Travelers Looks to Bring Top Line in Commercial Up as it Unveils Q3 Report
Oct 28 2004 // The St. Paul Travelers Cos. Inc. (NYSE:STA) has reported net income of $340 million for the third quarter ended Sept. 30, 2004, or $0.51 per basic share and $0.50 per diluted share, compared to $426 million, or $0.98 per...
Lloyd’s Says Slip Quality Continues to Improve
Oct 18 2004 // Iain Saville, Lloyd’s Head of Business Process Reform, announced a further improvement in slip quality, but urged the market not to let up in its drive to improve the quality of slips as it enters the renewal...
Lloyd’s to Raise $900 Million from International Debt Market; Best Rates Issue
Oct 18 2004 // Lloyd’s announced that it plans to make its debut in the international debt markets, with an issue aimed at raising approximately £500 million ($902 million) of long-term subordinated debt. The announcement...
Best Assigns Debt Rating to Society of Lloyd’s Subordinated Notes
Oct 13 2004 // A.M. Best Co. has assigned a “bbb+” debt rating to the forthcoming dated Subordinated Notes to be issued by the Society of Lloyd’s (United Kingdom). At the same time, A.M. Best has assigned an issuer...
U.K. Insurance and Financial Services Conference Focused on Industry Image
Oct 4 2004 // The U.K.’s annual Insurance and Financial Services Conference, sponsored by the Chartered Insurance Institute (CII) and the Chartered Institute of Loss Adjusters (CILA), got underway Wednesday, Sept. 29. The...
Lloyd’s Continues Push for Business Process Reform
Sep 27 2004 // Anyone who has ever visited Lloyd’s ultra-modern headquarters building on London’s Lime Street is struck by an odd anomaly. Despite the fact that every underwriter’s desk duly sports the obligatory...
Lloyd’s Chairman’s Remarks to Houston Forum
Sep 21 2004 // Lloyd’s has released an advanced summary of remarks to be made by its Chairman, Lord Peter Levene, in a speech to Texas business leaders at the Houston Forum Monday night. Lloyd’s said Levene would urge...
One-on-One with NAPSLO’s Outgoing President
Sep 20 2004 // When the outgoing president of the National Association of Surplus Lines Offices (NAPSLO), Jim Griffith, founded Princeton Risk Managers in 1974, organizers of the surplus lines association were convening in Florida to...
Best Affirms Lloyd’s Syndicate 382 ‘A’ Rating
Sep 17 2004 // A.M. Best Co. announced that it has affirmed its Syndicate Rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 382, which is managed by the U.K.’s...
Best Affirms Ratings of Markel’s Lloyd’s Syndicate
Sep 9 2004 // A.M. Best Co. announced that it has affirmed its Syndicate Rating of “A” (Excellent) of Lloyd’s Syndicate 3000, which is managed by Markel Syndicate Management Ltd. Best also affirmed the...
Lloyd’s Creates Action Team to Monitor LMP Slips
Sep 2 2004 // Lloyd’s announced that it has set up a special team of LMP (London Market Principles) slip auditors. “The team will work with businesses across the market to help them meet the 95 percent compliance target by...
Best Assigns Ratings to Lloyd’s Syndicate 1084
Aug 27 2004 // A.M. Best Co. announced that it has assigned its Syndicate Rating of “A” (Excellent) to Lloyd’s Syndicate 1084, managed by Chaucer Syndicates Ltd., and an issuer credit rating (ICR) of...
Pecoraro Sentenced in La. for Fraud Conspiracy
Aug 19 2004 // A man who was on the lam for 11 years from Louisiana’s 1990s insurance scandals was sentenced on Aug. 18, 2004 to less than two years in prison, the Associated Press reported. Nofio Pecoraro Jr., 54, pleaded guilty...
Lloyd’s Opens West Coast Office in L.A.
Aug 17 2004 // Lloyd’s announced it is opening a West Coast office based in Los Angeles, whose principal goal will be to enhance the Lloyd’s trading platform in four Western States: California, Oregon, Washington and...
Best Takes Rating Actions on Lloyd’s Syndicates
Aug 13 2004 // Following the upgrade of the financial strength rating to “A” (Excellent) from “A-” (Excellent) of Lloyd’s of London and the assignment of an issuer credit rating (ICR) of “a” (See...
Best Upgrades Lloyd’s Rating to ‘A’; Mgmt. Comments
Aug 13 2004 // A.M. Best Co. announced that it has upgraded Lloyd’s financial strength rating to “A” (Excellent) from “A-” (Excellent), and has assigned an issuer credit rating of “a” with a...
Savage Appointed to Finance Director Post at Lloyd’s
Jul 22 2004 // Lloyd’s of London announced it has appointed Luke Savage as its new finance director. Savage has worked in investment banking for the last 17 years, including ten years at Morgan Stanley and three years at Lloyds...
EnPro, Equitas Reach Agreement on Asbestos Dispute
Jul 20 2004 // EnPro Industries of Charlotte, N.C., and London-based Equitas announced they have reached a comprehensive agreement to settle the current and future insurance claims of EnPro subsidiaries against certain underwriters at...
