lloyd’s of london

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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 →

London re/insurance market outlook negative on Covid-19, says Fitch

The London market insurance and reinsurance sector is at-risk due to the Covid-19 coronavirus pandemic, causing Fitch Ratings to revise its outlook on this core marketplace to negative.Yesterday, we reported that Fitch had revised its outlooks for the global reinsurance market and U.S. Property & Casualty insurance to negative from read the full article →

Lloyd’s says third-party & ILS capital solution plans to continue

Lloyd’s of London said that it will continue progressing its plans to make the insurance and reinsurance market more welcoming and accessible to insurance-linked securities (ILS) capital providers, but only in parallel with its 2020 priority deliverables under the first phase of the Future at Lloyd’s.As we explained earlier this read the full article →

Lloyd’s plans for third-party & ILS capital appear pushed back

Lloyd’s of London appears to have lowered the priority level of its plans for welcome insurance-linked securities (ILS) capital into the insurance and reinsurance marketplace, as three other initiatives from its Blueprint One are set to be the immediate focus.When Lloyd's revealed its ambitious “Blueprint One” last September, the plan read the full article →

Beazley’s third-party capital backed Smart Tracker premiums rise 330%

Beazley, the specialist Lloyd’s focused insurance and reinsurance underwriter, lifted the amount of premiums written within its third-party capital backed ‘smart tracker’ special purpose arrangement (SPA) syndicate 5623 significantly in 2019.Beazley' SPA Syndicate 5623 was launched at the beginning of 2018  and saw the vehicle taking a 75% quota share read the full article →

Nephila a reinsurer to Boost-backed cyber risk insurtech Cowbell

Nephila Capital, the largest manager of mainly catastrophe and weather insurance linked securities and reinsurance linked assets, has lined up as one of the reinsurers supporting a technology-led cyber insurance company named Cowbell Cyber, signalling a step in the direction of specialty lines underwriting.Cowbell Cyber is an insurtech that leverages read the full article →

Hamilton hires Sforza from PartnerRe to lead U.S. property reinsurance

Hamilton Insurance Group, the Bermuda based insurance and reinsurance holding company, has announced the hiring of Brad Sforza, previously of PartnerRe, to the role of Head of Property Reinsurance for its U.S. reinsurance platform.Hamilton has been building out a U.S. property reinsurance platform within its Hamilton Re operation, with a read the full article →

Lloyd’s Performance Management Director Jon Hancock to depart

Jon Hancock, the Lloyd's of London insurance and reinsurance market's Performance Management Director is to step down in 2020 with no replacement for his position currently named.His role will be a tough one to fill in the market, given the wide-ranging expertise required to deliver on performance in a market read the full article →

How much does it cost to secure a future for Lloyd’s? £300m+ it seems

How much does it cost to strategise, design and implement a healthy and sustainable future for the Lloyd's of London insurance and reinsurance market? UK £300 million, at least, it seems.Lloyd's has announced that it has secured £300 million of debt to cover the near and medium-term cash requirements of read the full article →

Key considerations for Lloyd’s on third-party capital initiatives: A.M. Best

As Lloyd's of London seeks to develop initiatives to attract more third-party, ILS and alternative reinsurance capital to it, rating agency A.M. Best warns of a number of considerations it feels are key for the market to consider.Lloyd's recognises that if it doesn't modernise and adapt to the changing insurance read the full article →