Lloyd’s of London news

Helios Underwriting, the Lloyd’s of London focused investment and underwriting vehicle that counts among its capital backers a share from insurance-linked securities (ILS) market sources, has named well known insurance and reinsurance industry leader Martin Reith as its new CEO.

Insurance and reinsurance linked investment manager Nephila Capital saw its specialty lines focused Syndicate 2358 at Lloyd’s deliver a profit in its first year of trading, with an 88.3% combined ratio.

London market insurance and reinsurance players need to be able to attract and efficiently deploy third-party capital, if they are to take advantage of the growth opportunities available to them, rating agency AM Best has said.

In an interview with the Financial Times today, Lloyd’s of London CEO John Neal forecasts significant growth for the global insurance and reinsurance market, with the perception of risk set to drive a potential doubling in spend in a decade.

The Lloyd’s insurance and reinsurance market has delivered underwriting profitability for 2022, with its preliminary results signalling strong growth and a 91.9% combined ratio for the year.

Hiscox has announced the launch of a new environmental, social and goverance (ESG) focused underwriting syndicate at Lloyd’s, for which it will look to partner with third-party capital partners in time.

The Lloyd’s insurance and reinsurance market could report its lowest combined ratio since 2014, according to a forecast from Insurance Capital Markets Research.

Global reinsurance company Ariel Re continues to seek new and efficient ways to enhance its capital-base, with the latest example a $270 million raise to support 2023 expansion, $170 million of which is channelled via Lloyd’s London Bridge 2 PCC insurance-linked securities (ILS) structure.

For those able to navigate the complexity inherent in the Lloyd’s insurance and reinsurance market, the conditions for investing there are looking increasingly favourable, according to Dirk Lohmann, Chairman, and Peter Brown, ILS Originator and Structurer, Schroders Capital ILS.

From January 1st 2023, specialty insurance and reinsurance underwriter Beazley’s Smart Tracker special purpose arrangement (SPA) syndicate 5623 will now become a full market-facing syndicate at Lloyd’s.