March 27, 2020
Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a media call to discuss the market’s 2019 results. Neal said it is too early for the market to assess the …
March 27, 2020
Blenheim Underwriting announced it has been granted ‘approval in principle’ by the Lloyd’s board to establish a new managing agency. Blenheim said it can now submit an application to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) …
March 26, 2020
While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also affirmed that the market is in a strong position to respond to the impacts of COVID-19. Lloyd’s return to profit was the first since 2016 …
March 25, 2020
Delaying the Olympics is likely to cost insurers much less than canceling the Tokyo Games altogether, with a chance that some of those involved may not have policies specifically covering a postponement, industry sources say. The Tokyo Olympics were postponed …
March 19, 2020
After conducting a successful stress-test last week of its electronic trading system, Lloyd’s has made the decision to close its underwriting room in response to the coronavirus outbreak. As a result, market insurers will no longer be able to conduct …
March 18, 2020
Lloyd’s of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand its possible overall losses from the impact of the …
March 13, 2020
The Lloyd’s Market Association (LMA) is closing its office from Tuesday March 17 until the end of March in response to the COVID-19 outbreak. While its “Work From Home Business Continuity Plan” is operational and the office is closed, the …
March 12, 2020
Lloyd’s is shutting its London underwriting room at 1 Lime Street for one day for a contingency planning exercise in response to the coronavirus outbreak. Starting at midnight tonight and for 24 hours, Lloyd’s will stress-test its alternative trading protocols, …
March 5, 2020
Global banks and small investment firms in Europe are urging staff to work from home and curb travel as the financial industry braces for disruption from the rapidly spreading coronavirus outbreak. For many companies it will be a first-time experiment …
March 4, 2020
Lloyd’s of London has promoted Sabrina Miesowitz to U.S. general counsel to succeed Joe Gunset who is retiring from the role after almost 20 years at Lloyd’s. Miesowitz, who was formerly the deputy U.S. general counsel, will take on her …