Lloyd’s CEO John Neal was involved in a collision with a car while riding his bike on Saturday, March 26, Lloyd’s said in a statement. Neal sustained serious injuries and is undergoing treatment in hospital, but he is expected to …
A handful of London insurance firms are being investigated for bribery and corruption by the UK’s Serious Fraud Office, according to people familiar with the probe. The fraud cops are examining the way firms, including Marsh & McLennan Cos.’ Jardine …
Lloyd’s, the world’s leading insurance and reinsurance marketplace, announced “a strong return to profitability” in its 2021 full year financial results, with an overall profit of £2.3 billion ($3.04 billion), compared to a loss of £900 million ($1.2 billion) in …
Russia’s move to transfer almost 800 foreign-owned jets to its own aircraft register amid foreign sanctions has triggered a wave of insurance claims from leasing firms whose fleets have effectively been commandeered. Lessors will assert that registering the planes in …
Insurers and reinsurers could face claims as high as US$10 billion in a worst-case scenario due to the grounding of planes in Russia, Fitch Ratings said. More than 500 planes that are financed or owned by non-Russian lessors are stranded …
State-owned Bangladesh Shipping Corp. is seeking $22.4 million from its insurer for a cargo ship hit by a missile in March, government officials with knowledge of the talks said, in the first major marine insurance claim from the conflict in …
Aircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims. Lessors of planes stuck in Russia since the onset of sanctions have warned insurers of possible claims …
Oman Insurance Co. (OIC) and Asta, the third-party managing agent at Lloyd’s, announced that OIC’s syndicate 2880 has received Lloyd’s approval to commence underwriting. Syndicate 2880 was launched under the syndicate-in-a-box (SIAB) initiative and the syndicate will operate on the …
Russia and Belarus represent less than 1% of business transacted by Lloyd’s of London, the commercial insurance market said, adding that it would look to curtail Russian exposure in several of its specialist insurance classes. Insurers and reinsurers based in …
Mosaic Insurance has entered into an agreement to purchase the Lloyd’s managing agency of SiriusPoint as part of a transaction in which the global re/insurer will become a strategic investor in Mosaic. Under the deal, which is subject to Lloyd’s …
