Lloyd's

Lloyd’s hosts ceremony to honour Queen and mark the King’s accession

One week after the death of Queen Elizabeth II, Lloyd’s today hosted a ceremony in the underwriting room to honour the late monarch and observe the accession of King Charles III.

Flux becomes third Asta syndicate launch in a week

Asta has further strengthened its position as the leading third-party Lloyd’s managing agency with the announcement of Acrisure’s new “low-touch underwriting” Flux Syndicate – the third Asta-managed syndicate to be unveiled this week.

MS AUL adds Hiscox’s Morgan to lead property delegated authority

MS Amlin Underwriting Limited (MS AUL) – the Lloyd’s arm of Japanese carrier MS&AD – has appointed Simon Morgan as head of property delegated authority.

Acrisure receives approval for “low-touch” Flux syndicate launch

Acrisure has been granted in-principle approval for its new “low-touch underwriting” Flux Syndicate, the third Asta-managed syndicate to be unveiled this week.

Analysing Lloyd’s syndicates as an investment market

Through its RISX index methodology, ICMR can provide a mark-to-model valuation for Lloyd’s investments…

Global specialty (re)insurance equity index holds up three times better than overall market in YTD

The global specialty (re)insurance-focused RISX index – which targets publicly listed companies with underwriting subsidiaries at Lloyd’s – continues to outpace the overall market with a 6.8 percent year-to-date fall in net total return terms, compared to an 18.2 percent drop on the MSCI World (Net) USD index.

Ariel Re looking to raise capital to support 2023 growth opportunities

Ariel Re is in active discussions with potential capital providers in a bid to increase Funds at Lloyd’s (FAL) to support growth opportunities in 2023, including in cat reinsurance at the upcoming 1 January renewal, The Insurer can reveal.

Catalina given in-principle approval for Lloyd’s RITC syndicate

Bermuda-based legacy specialist Catalina has received in-principle approval to launch a new Lloyd’s syndicate to underwrite reinsurance-to-close (RITC) transactions.

Pelican Ventures backs new Lloyd’s cyber start-up Trium 1322

Lloyd’s has granted in-principle approval for a new Asta-managed, cyber-focused syndicate – Trium – with the Pelican Ventures-backed vehicle set to commence underwriting in January 2023, The Insurer can reveal.

Scor appoints former MS Amlin executive Beazley as UK and Lloyd’s CEO

Scor has unveiled Chris Beazley as CEO of its UK operations and Lloyd’s syndicate, subject to regulatory approval.

Polo maps out future as independent turnkey agency as Lloyd’s build-out accelerates

Following legacy specialist Marco’s acquisition of Capita Insurance Services and Capita Managing Agency and the swift rebrand to Polo just over four months ago, the firm has wasted no time in developing an active pipeline and is in the advanced stages of bringing several businesses into the Lloyd’s market.

Lloyd’s poised to reach record size as syndicates eye double-digit growth in 2023

Lloyd’s is set for double-digit growth in 2023 amid expectations for the “best underwriting environment for at least a decade”, with early business plan forecasts showing a swathe of syndicates are seeking to grow revenue by 15 percent or more next year.

Neal and Carnegie-Brown won’t attend MC Rendez-Vous but Lloyd’s building to remain open

The Lloyd’s building is to remain open during the national period of mourning following the death of Queen Elizabeth II, however the market’s CEO John Neal and chairman Bruce Carnegie-Brown have cancelled their plans to attend the Monte Carlo Rendez-Vous next week.

COMMENT: The Society of Lloyd’s at work…

The old adage that you only know your real friends in times of adversity is trotted out frequently but that doesn’t make it any less true.

Westfield accelerates specialty build-out with $125mn deal to buy Argo Lloyd’s syndicate

Argo is selling its Lloyd’s Syndicate 1200 to Westfield Insurance for $125mn – or about 0.81x book value – in a deal that sees the Bermuda specialty insurer finally unload its Lloyd’s business and further jump-starts the build-out of Westfield’s specialty operations.

Lloyd’s pegs Blueprint Two delivery spend so far at £40mn

Lloyd’s has spent around £40mn so far on the delivery of Blueprint Two, with CEO John Neal reassuring the market that the transformation programme remains on budget.

Lloyd’s to pay £2.5K cost of living bonus to staff on under £75K

Lloyd’s is to provide a one-off payment of £2,500 to employees with a base salary of £75,000 or less to support with the current cost of living crisis.

Lloyd’s Keese: Market achieving “holy grail” of profitable growth

The Lloyd’s market experienced “highly profitable” growth in the first half of the year with new business and improved pricing driving the surge in top line, Burkhard Keese has told The Insurer.

Lloyd’s posts H1 91.4% CR but falls to investment-driven £1.8bn loss

Lloyd’s delivered its strongest underwriting result since 2015 during the first half of 2022 with the market’s combined ratio improving to 91.4 percent.

Carnegie-Brown: Lloyd’s has “earned the right” to grow

Years of remedial work taken by the Corporation to combat poor performance within Lloyd’s has left the more than 330-year-old market “match fit” to tackle new and emerging risks such as cyber and climate change, Lloyd’s chairman Bruce Carnegie-Brown said today.

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