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Beazley’s Smart Tracker performance improves, plans ESG strategy

Beazley, the specialist Lloyd’s focused insurance and reinsurance underwriter, has reported improving performance for its Smart Tracker special purpose arrangement (SPA) syndicate 5623 and now plans to house a new ESG focused consortium under the same Market Facilities unit. Beazley’ SPA Syndicate 5623 was launched at the beginning of 2018  with read the full article →

Climate premiums rising at Lloyd’s, but hurricane gap persists: Carnegie-Brown

The Lloyd's of London market for insurance and reinsurance is underwriting increasing premium values related to climate risks, but there are clear opportunities to continue narrowing climate-linked protection gaps, even in emerging economies. That's clear from comments made by Bruce Carnegie-Brown, Chairman of Lloyd's during a recent interview with Bloomberg television. Carnegie-Brown read the full article →

CFC gets ILS & pension fund backing for Syndicate 1988 launch

Specialist cyber focused underwriter CFC has announced that backing for its newly launched Lloyd's Syndicate 1988 includes an insurance-linked securities (ILS) fund, a large pension fund, and also reinsurance firms based in Bermuda, Cayman and Japan. It's a vote of confidence for CFC's cyber underwriting, with the company acknowledged as one read the full article →

Lloyd’s Central Fund cover has no direct ILS participation

There isn't any direct participation from insurance-linked securities (ILS) funds or investors in the £650 million reinsurance or retrocession protection Lloyd's has purchased to cover its Central Fund, despite nearly 70% of it being collateralised. As we explained earlier this morning, Lloyd's has secured an innovative cover for its Central Fund read the full article →

Lloyd’s secures £650m Central Fund cover, £450m of it collateralised

Lloyd's, the London insurance and reinsurance marketplace, has secured a £650 million cover for its Central Fund, with £450 million of it provided by an investment bank and fully collateralised, according to a report. The FT reported first this morning that Lloyd's has taken the plunge and secured a reinsurance or read the full article →

ILS backed Helios beats Lloyd’s market by 5.7% in 2020, despite COVID

Helios Underwriting, the Lloyd’s of London focused investment and underwriting vehicle that has a significant amount of backing from insurance-linked securities (ILS) market sources, outperformed the wider Lloyd's market for 2020, despite feeling the effects of COVID related losses. Helios raised £53.5 million of new capital earlier this year, the majority read the full article →

Lloyd’s advancing ILS investor discussions on London Bridge Risk use

Lloyd's is said to be in "advanced discussions" with some major investors that are looking to use its insurance-linked securities (ILS) structure, the multi Insurance Special Purpose Vehicle (mISPV) named London Bridge Risk PCC Ltd. The London Bridge Risk PCC Ltd. structure was approved by regulators and launched back in January read the full article →

ILS backed Helios outperforms Lloyd’s every year since 2013

Helios Underwriting, the Lloyd’s of London focused investment and underwriting vehicle that has a significant amount of backing from insurance-linked securities (ILS) market sources, has reported that its track-record shows it continues to outperform the wider Lloyd's market. Helios raised £53.5 million of new capital through a share issuance earlier this read the full article →

Beazley reports “higher than expected rate changes” in Q1

Beazley, the Lloyd’s market focused specialist insurance and reinsurance underwriter, has continued to expand its underwriting within its market facilities unit, where the largely third-party capital backed Smart Tracker facility sits, growing that segment 35% during the first-quarter of this year. Beazley has reported overall growth of 16% in gross premiums read the full article →

CFC gets ‘in principle’ approval for third-party capital backed Lloyd’s Syndicate

Specialist insurance provider with a focus on emerging risk and cyber, CFC, has received ‘in principal’ approval from Lloyd’s of London for the establishment of CFC Syndicate 1988 with the backing of third-party capital. Managed by Asta Managing Agency Ltd, the new syndicate will underwrite a cross-section of CFC’s established portfolio read the full article →