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Beazley sets $1bn premium target for investor-backed Smart Tracker

Beazley, the Lloyd’s market focused specialist insurance and reinsurance underwriter, has ambitious targets for bringing significant amounts of third-party capital under its management through facilities, or beta-like market tracking structures, according to analysts.In particular, Beazley sees a huge opportunity to grow its third-party capital backed ‘smart tracker’ special purpose arrangement read the full article →

Lloyd’s estimates non-life pandemic industry loss at $107bn

Lloyd's of London, the specialist insurance and reinsurance marketplace, has estimated that the non-life insurance industry faces as much as $107 billion of losses from the Covid-19 coronavirus pandemic to the 2020 underwriting year alone.It's a massive figure, sitting above the top-end of consensus estimates and reflects the enormous toll read the full article →

TigerRisk hires Lawrence Po-Ba for Lloyd’s capital & investment focus

TigerRisk Partners LLC, the global risk, capital and reinsurance brokerage and advisory, has announced the hiring of experienced London reinsurance and insurance-linked securities (ILS) market executive Lawrence Po-Ba.Po-Ba was most recently an employee of London headquartered ILS fund manager Securis Investment Partners LLP, where he had a focus on helping read the full article →

Beazley says Covid-19 losses to reach $170m after reinsurance

Beazley, the specialist Lloyd’s focused insurance and reinsurance underwriting business, has revealed an expected Covid-19 claims burden of $170 million net of reinsurance across its business. We would expect some of that loss to be shared with investors backing the companies third-party capital arrangements.In a trading update today, Beazley said read the full article →

Sompo Int. targets London & Euro growth, but exits Lloyd’s for efficiency

Sompo International, the Bermuda headquartered specialty property and casualty insurance and reinsurance provider, is exiting the Lloyd's market, saying that while it aims for significant growth in London and Europe it feels a consolidated company market platform is the way to go.The move will see Sompo International halt all underwriting read the full article →

ILS funds face inflow challenges while Covid-19 uncertainty remains

While the immediate economic and financial market impacts of the Covid-19 coronavirus pandemic have ramifications for investor appetite, there are longer-term reasons that ILS funds could face challenges when it comes to accepting new inflows while the virus remains prevalent.For insurance-linked securities (ILS) funds and other collateralised reinsurance investment strategies, read the full article →

The recapitalisation challenge for Lloyd’s (& ILS) while Covid-19 persists

As our sister publication Reinsurance News reported yesterday afternoon, Lloyd's has asked its members that have been hit by sizeable losses as a result of the Covid-19 coronavirus pandemic to accelerate capital injections with the goal of stabilising the markets capital position.Rating agency S&P Global Ratings explained that currently losses read the full article →

Stone Ridge’s investments into Lloyd’s backed $250m of premium in 2018

Stone Ridge Asset Management, the alternative risk premia focused mutual fund manager that has specific reinsurance and insurance-linked securities (ILS) strategies, significantly expanded its allocations of capital to Lloyd's of London syndicates in 2018 with its investments deployed into business amounting to almost $250 million of gross premiums.Stone Ridge established read the full article →

Credit Suisse ILS backed Arcus Syndicate 1856 targets 2020 expansion

Arcus Syndicate 1856 at Lloyd’s, which is backed by third-party funds under the management of the Credit Suisse Insurance Linked Strategies team, is targeting an expansion of business across most of the underwriting classes it operates in for 2020.In reporting its 2019 results, the Arcus 1856 team revealed that a read the full article →

Lloyd’s in 2019 underwriting loss, as Covid-19 shows in solvency measure

The Lloyd's of London insurance and reinsurance market fell to an underwriting loss for the third consecutive year, reporting a combined ratio of 102.1% for 2019, while paying gross claims during the year that were higher than in the prior year.Lloyd's has struggled with its underwriting performance in recent years read the full article →