Lloyd's

Axis Capital gets the go-ahead to merge Lloyd’s managing agencies

Axis Capital has received approval to create a single managing agent structure for its operations at Lloyd’s following the acquisition of Novae last year.

MS Amlin launches $60mn sidecar for Lloyd’s syndicate

MS Amlin has launched a $60mn Bermuda-based sidecar that will write a quota share of its Lloyd’s Syndicate 2001.

Fema boosts NFIP reinsurance spend by more than 50%

US government-run flood cover scheme, the National Flood Insurance Program (NFIP), has upped its spending on private market reinsurance by more than half as the agency bolstered its coverage in the wake of last year’s devastating storms.

Beale to replace Philipps as MS Amlin CEO

Simon Beale, MS Amlin’s Chief Underwriting Officer, will succeed Charles Philipps as CEO at the (re)insurer following his retirement in April.

Neon launches the UK’s first $72mn ILS vehicle

Neon has unveiled the UK’s first ILS vehicle, a $72mn protected cell company that will write a quota share for the American Financial Group-owned Lloyd’s business.

R&Q partners with AXA for Hamilton RITC

Bermudian-domiciled Hamilton Insurance Group has appointed legacy specialists Randall & Quilter (R&Q) to reinsure its Lloyd’s run-off book that it inherited when it acquired Sportscover managing agency in 2015.

Sirius Syndicate 1945 places marine book into run-off

Sirius has placed its marine cargo, treaty and yacht books of business at Lloyd’s into run off, Reinsurance can reveal.

Lloyd’s needs to share data to improve market efficiency

Senior industry executives gathered at Reinsurance’s ‘The Future of Cargo Insurance and Risk’ roundtable have called on Lloyd’s to do more to improve the distribution of data across the market.

R&Q completes exit from live Lloyd’s business with $22.6mn sale

Listed insurance group R&Q has now completed its exit from live underwriting at Lloyd’s following the completion of its $22.6mn managing agency sale to the US medical insurer, Coverys.

Brit launches MGA Scion Underwriting Managers

Lloyd’s insurer Brit Insurance has launched a new MGA, Scion Underwriting Managers, that will be led by industry veteran Scott Brock.

Lloyd’s (re)insurer Ascot launches $1bn Bermuda reinsurer

Ascot Group Ltd, the Lloyd’s (re)insurer owned by the Canada Pension Plan Investment Board (CPPIB), has launched a Bermudian reinsurer to be led by reinsurance veteran John Berger.

Barbican commissions “next ten years” London market study

Lloyd’s insurer Barbican has celebrated its ten-year anniversary today (23 November) by commissioning a year-long study into how the London market may evolve over the next decade.

R&Q exits support for Syndicate 1991

As Lloyd’s approaches its crucial “coming into line” date, R&Q has disclosed it has reduced its capital support to a “nominal amount” for its former Syndicate 1991 in 2018.

Lloyd’s approves Agora Syndicate 3268 for 1.1 start

Lloyd’s has formally approved Mike Pritchard’s Agora to operate as a full syndicate from 1 January 2018.

Beazley shares up on positive analyst report

Beazley shares were up around 2.5 percent today (10 November) following a positive analysts report from JP Morgan Cazenove.

Beazley: Up to $300mn in H2 cat losses

Lloyd’s (re)insurer Beazley says it now expects between $200mn-$300mn in net natural disaster claims in the second half of the year in a 9 November trading statement.

Hamilton short-lists Lloyd’s legacy RITC buyers

Bermudian-domiciled Hamilton Insurance Group has shortlisted potential buyers of its Lloyd’s legacy book inherited when it acquired the old Sportscover managing agency, Reinsurance can reveal.

London urged to seize Islamic insurance opportunity

The London market was encouraged to grasp the opportunities of Islamic insurance by a senior U.K. government minister yesterday (30 October).

New back office deal to save London market £100mn

A new five-year contract which will see bureau services for the London market continue to be outsourced to DXC Technology has been heralded by the London market for its future cost savings.

Apollo receives Lloyd’s approval for 1.1 SPS launch

Lloyd’s Managing Agency Apollo Syndicate Management Ltd has received “in principle” approval from the Corporation’s Franchise Board to establish a sub-syndicate, SPA 6133, that will write property catastrophe business.

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