Lloyd’s announced that it has received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts. Lloyd’s said it has been approved as a “Secure-3 reinsurer, meaning its collateral requirements will be reduced from 100 percent …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s of London and Lloyd’s Insurance Company (China) Limited (LICCL). Best also affirmed the ICR of …
Speaking on the tenth anniversary of the incorporation of the Lloyd’s Market Association (LMA), its Chairman, Barnabas Hurst-Bannister, thanked managing agents for their support and pledged that the LMA will not cease in its mission to see the Lloyd’s market …
Alterra Capital Holdings Limited announced that the State of New York Insurance Department has approved Alterra Bermuda Limited “as an eligible reinsurer for reduced collateral status, which allows lower collateral requirements for non-domestic reinsurers that are highly rated and financially …
UK and Lloyd’s insurer Amlin plc held a presentation for analysts today focused on updating its catastrophe estimates. Amlin estimated that net claims from the two major U.S. tornadoes during April and May 2011 were approximately $50 million. It also …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084. In addition Best affirmed the ICR of “bbb” of Chaucer Holdings PLC …
Lloyd’s announced that Mark Patterson has joined Lloyd’s as the new Controller of Agencies and David Lawrence has been promoted to Deputy Controller. Patterson joins Lloyd’s from a marine insurance career spanning over thirty years with INA, AIG and CV …
As levels of international trade and the importance of emerging economies increase, Lloyd’s has been very active in its efforts to open up access to overseas markets. However, in an article on its web site it called for “greater co-operation …
Mitsui Sumitomo at Lloyd’s has appointed Graeme Rayner as Head of Underwriting, Property and Casualty, in a move it described as designed to drive “growth in the UK and Irish markets.” Rayner, who was previously Managing Director of commercial business …
Lloyd’s insurer Ascot Underwriting Ltd. announced that it has increased its capacity from £600 million [$958 million] to £650 million [$1.038 billion] “to support its 2011 business plan.” Andrew Brooks, CEO of Ascot Underwriting explained: “Market conditions are changing, providing …
