September 18, 2019
Lloyd’s of London expects “sobering” results from a survey of the workplace culture at its member firms, the insurance market’s chairman said on Wednesday as a rise in investment income drove a four-fold profit rise. In May the 330-year old …
September 18, 2019
Lloyd’s announced that David Sansom has been confirmed as chief risk officer, subject to regulatory approval. Sansom’s remit includes all areas of risk management within the Corporation of Lloyd’s as well as oversight for market-level risks. He also manages Lloyd’s …
September 18, 2019
Lloyd’s of London, the world’s biggest insurance market, returned to profit in the first half after two full-year losses. The more than 300-year-old corporation made a profit before tax of 2.3 billion pounds ($2.8 billion) in the first six months …
August 12, 2019
More than half of in-scope market risks were placed electronically in the London and Lloyd’s markets during the second quarter, surpassing targets placed on the Platform Placing Ltd. (PPL) and other recognized electronic placement systems. The target for this quarter …
August 6, 2019
Reports alleging that fuel tankers appeared to breach U.S. sanctions against Iran were cited in court filings by a bank as it sought to seize the ships, accusing the owners of loan default. The accusations, which led to the the …
August 1, 2019
Lloyd’s welcomed 11 new teams of insurtech disruptors to join the re/insurance market’s innovation accelerator. More than 130 applications were received from across the world for the third cohort of the Lloyd’s Lab. The 11 teams were selected as part …
July 31, 2019
Space rockets and satellites are likely to cost more to insure after the European Vega rocket crash this month, which hit insurers with a record space market loss of 369 million euros ($411.21 million), insurance industry sources say. The Vega …
July 12, 2019
When the 10-week consultation period for “The Future at Lloyd’s” project ended this week, Lloyd’s confirmed that participation was widespread, with more than 4000 suggestions and comments received from market participants, customers and other stakeholders. Next steps? The market now …
July 11, 2019
AM Besthas affirmed the Financial Strength Rating of “A” (Excellent) and the Long-Term Issuer Credit Ratings of “a+” of Lloyd’s (United Kingdom), Lloyd’s China and Lloyd’s Brussels. Concurrently, AM Best has affirmed the Long-Term ICR of “a” of the Society …
July 10, 2019
Twenty-five years ago, the Lloyd’s of London marketplace was teetering on the brink of insolvency, reeling from billions of dollars of asbestos and pollution liabilities. Many of the best brains in the market worked day and night to find a …