Lloyd's

Securis $19.8mn collateral dispute forces Lloyd’s syndicate to stay “open”

The Beat Capital Syndicate 4242 will announce next week that it has been forced to keep its loss-heavy 2017 year open because of uncertainty over an ongoing reinsurance asset dispute with one of its reinsurers, the ILS fund manager Securis.

Lloyd’s closes underwriting room

Lloyd’s is to close the underwriting room as of 4pm GMT Thursday in response to the coronavirus outbreak, with the situation to be reviewed on a weekly basis.

Lloyd’s 2019 hull loss ratio worst for 20+ years

Despite Lloyd’s focus on improving the marine sector’s results and the withdrawal of capacity from the class, 2019 is poised to be the worst underwriting year for marine hull insurers for at least twenty years, analysis by The Insurer shows.

Hancock delays Lloyd’s exit while Corporation vows to stay open during pandemic

Lloyd’s outgoing performance management director Jon Hancock is to extend his notice period by two months as the Corporation responds to the escalating coronavirus crisis.

Argo Syndicate 1200 falls to heavy loss after Q4 deterioration

Argo’s loss-making Syndicate 1200 suffered significant deterioration in the fourth quarter on both its 2017 and 2018 underwriting years, mirroring the experience of its parent company last month, The Insurer can reveal.

Lloyd’s calls on market to quantify Covid-19 exposures

Lloyd’s has ordered each managing agent to outline its understanding of the potential losses and exposures it faces today as well as an estimate of total potential losses, in response to the escalating coronavirus situation.

Communicable disease inquiries soar as COVID-19 exclusions kick in

Brokers are being inundated with inquiries about adding communicable disease endorsements to event cancellation policies, and while the coverage continues to be offered by underwriters, pricing has increased significantly and novel coronavirus COVID-19 is excluded.

LMA introduces policy extension clause in case of Lloyd’s coronavirus closure

The Lloyd’s Market Association (LMA) has unveiled policy language to ensure (re)insureds will not be left without cover if the developing Covid-19 situation prohibits normal renewal discussions at Lloyd’s.

Lloyd’s to close underwriting room for first time in Coronavirus stress test

Lloyd’s is to shut the underwriting room for one working day on Friday 13 March “to test in anger” the market’s ability to deal with coronavirus-related disruption.

Lloyd’s faces renewed scrutiny for failing to maintain complaints systems

Lloyd’s of London is facing scrutiny – for the second time in a matter of months – for failing to maintain its internal complaints system.

ProSight’s exit from Lloyd’s edges closer with reserves down to $45mn

ProSight Global’s unhappy experience at Lloyd’s is nearing the end with only circa $45mn of reserves remaining in its run-off vehicle, the New Jersey-headquartered company’s CEO has confirmed.

Hamilton hires head of excess casualty for Lloyd’s business

Hamilton’s Syndicate 4000 has brought in Fergus Fergusson as divisional head of its excess casualty offering, with the new arrival joining the business after nine years with Aspen.

Wanted: A Lloyd’s man* for all seasons

Whoever succeeds Jon Hancock will become only the fourth head of Lloyd’s underwriting performance.

Lloyd’s confirms shortlist for Hancock successor; Axa XL and RenRe execs early favourites?

Axa XL’s UK head Paul Greensmith and RenaissanceRe’s chief underwriter Ross Curtis have emerged as early favourites among potential candidates to succeed Jon Hancock as director of Performance Management at Lloyd’s.

AFL looks to HSB’s Stephen for binding authority leader

Expansive Lloyd’s broker AFL has appointed Sarah Stephen as head of binding authorities.

Lloyd’s names Miesowitz US General Counsel as Gunset exits

Lloyd’s has promoted Sabrina Miesowitz to US General Counsel as Joe Gunset leaves the role after almost twenty years at the Corporation for an advisory position at McGlinchey Stafford.

Atrium leads new crypto asset policy at Lloyd’s

Lloyd’s, in partnership with Coincover, has launched a policy to insure cryptocurrency against theft or other malicious hacks, with a limit that increases or decreases in line with the price changes of crypto assets.

Atrium to post 2019 CR in region of 91 percent

Lloyd’s insurer Atrium will once again demonstrate its underwriting pedigree by bucking the trend on Lime Street to post improved results in 2019 and a combined ratio in the region of 91 percent, according to a 10-K filing by owner Enstar late last week.

Lloyd’s committed to LatAm growth as regional head prepares for Miami move

Lloyd’s remains open to the Latin American (re)insurance industry despite several of its carriers cutting back from the regional reinsurance hub recently, with chief executive John Neal also confident there is plenty of potential to do more business in the region.

MAP automates compliance with Clausematch insurtech

Managing Agency Partners (MAP) – owner of Lloyd’s syndicates 2791 and 6103 – has employed the services of Lloyd’s Lab graduate Clausematch to manage all its policy and procedures documentation through a single platform.

Region

Topics

Events & Conferences

Content Types