London Bridge Risk PCC

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Lloyd’s new ILS vehicle an “efficient mechanism” for investors: Clifford Chance

The new Lloyd's sponsored protected cell company that was announced last week, London Bridge Risk 2 PCC Limited, represents "an efficient mechanism" for both existing and new investors to access risk from the Lloyd's market, according to Clifford Chance. The international law firm worked with Lloyd's and the UK financial market read the full article →

Lloyd’s new LB2 ILS structure brings flexibility the market wants

The announcement today of a new insurance-linked securities (ILS) structure for the Lloyd's of London insurance and reinsurance market brings much greater flexibility to the way Lloyd's participants can access the capital markets and investors access risk from underwriters in the market. The news was broken by the Financial Times overnight, read the full article →

Lloyd’s to announce significant London Bridge 2 ILS expansion plan

Lloyd's of London will today announce a significant expansion of its London Bridge insurance-linked securities (ILS) platform, with a plan to welcome more capital, new types of reinsurance transactions and make the transfer of different kinds of risks to capital market investors simpler. Dubbed London Bridge 2, according to the Financial read the full article →

Lloyd’s willingness to adapt capital framework a positive: Gallagher Re

The Lloyd's insurance and reinsurance market's willingness to adapt its capital framework is seen as positive by broker Gallagher Re, who in a new report noted the use of ILS structure London Bridge Risk to bring in new capital, contributing to a healthy Funds at Lloyd's market. Lloyd’s launched its insurance-linked read the full article →

Access to third-party capital & ILS positive for London market: AM Best

Rating agency AM Best has maintained its outlook for the London insurance and reinsurance market at Stable, with improving access to third-party capital one of the key drivers. AM Best believes that access to third-party reinsurance capital and the ability to more readily utilise insurance-linked securities (ILS) are positives for the read the full article →

PRA to bring “flexibility & speed” to UK ILS, fast-track standard structures

The Bank of England's Prudential Regulation Authority (PRA) confirmed this morning that it is working on making changes to its insurance-linked securities (ILS) regime, with a view to bringing greater flexibility and speed to the regulatory process. Speaking at an event in London today, Alan Sheppard, Head of Insurance Policy at read the full article →

Regulators “inflexible culture” hindered UK ILS ambitions: Lords Committee

UK parliamentary group, the House of Lords Industry and Regulators Committee, has told the government that following an inquiry into commercial insurance and reinsurance regulation, it believes the "inflexible culture" of the regulators has held back the countries ambitions to develop new forms of business. The Committee-led inquiry wanted to assess read the full article →

Lloyd’s seeks expanded ILS approvals for London Bridge Risk PCC

The Lloyd’s insurance and reinsurance market is understood to be in active discussion with financial market regulators over an expansion of the regulatory approvals for its insurance-linked securities (ILS) structure London Bridge Risk PCC. Lloyd's launched the vehicle over a year ago now and the London Bridge Risk PCC Ltd. structure read the full article →

ILS can help London maintain cat portfolios as retreat continues

As many Lloyd’s and London market insurers retreat from the catastrophe space, amid elevated losses and the uncertain but increasing impacts of climate change, some underwriters could look to alternative reinsurance capital sources to help maintain their cat portfolios. Insurance and reinsurance broker Howden’s London Market Appetite survey, published today, shows read the full article →

ILS an example of UK regulations failing to support industry: LMG CEO

At a time when London's market share in reinsurance has stagnated, the insurance-linked securities (ILS) sector in the United Kingdom and its failure to gain traction so far is an example of regulation failing to support the market's ambitions, representatives of the House of Lords heard in a hearing yesterday. Yesterday, read the full article →