Lloyd's

Neon cites retro crunch as it shuts down Bermuda and exits cat reinsurance

Lloyd’s (re)insurer Neon will cease writing property treaty reinsurance and intends to close its Bermuda platform as a result of hardening in the retro market, The Insurer can reveal.

Travelers to cease writing cargo at Lloyd’s

US carrier Travelers is exiting cargo business at Lloyd’s, The Insurer understands.

Lloyd’s 2020 stamp capacity

As the “coming-into-line” date fast approaches, The Insurer is surveying Lloyd’s (re)insurers on their approved 2020 stamp capacity. Overall the average is up but there are also some significant retrenchments including syndicate closures and a £250mn reduction from MS Amlin’s Syndicate 2001.

Allied World Syndicate 2232 secures 10% capacity increase

Allied World Syndicate 2232 has secured Lloyd’s business plan approval for a 10 percent stamp capacity increase across both platforms for 2020, The Insurer can reveal.

Lloyd’s launches next stage of anti-bullying initiative with #SpeakUp campaign

In its latest measure to address the findings of Lloyd’s Annual Culture Survey, the Corporation of Lloyd’s has launched a campaign urging individuals to speak up if they see or experience unacceptable behaviour in the market.

Acappella 2014 becomes third November Lloyd’s syndicate closure

Acappella’s Syndicate 2014 has become the third syndicate at Lloyd’s this month to confirm it is going into run-off following its acquisition earlier this year by the Bermudian (re)insurance group, Hamilton.

Brit Syndicate 2988 secures 50% capacity increase

Brit’s Name-backed Syndicate 2988 has secured Lloyd’s business plan approval for a more than 50 percent stamp capacity increase in 2020.

Securis appoints Willis Re to advise on Lloyd’s exit

Securis Investment Partners has engaged Willis Re to extract the ILS fund manager from its unhappy involvement with the Lloyd’s market, The Insurer can reveal.

Pioneer becomes fifth full syndicate to close since Hancock warning

Pioneer Syndicate 1980 has become the fifth full syndicate to close following a Lloyd’s market meeting in May 2018 when the Society’s head of underwriting Jon Hancock launched remedial action to turn around the performance of the market and warned that a tougher regime would lead to syndicate closures.

Pioneer places Syndicate 1980 into run-off

Pioneer Underwriters has announced its Lloyd’s Syndicate 1980 is being placed into run-off after a wide-ranging business review determined the cost of capital was no longer economically efficient.

Coverys 1975 active underwriter Bryceland departs

Active underwriter at Coverys Managing Agency’s Syndicate 1975 Keith Bryceland has exited the business, The Insurer can reveal.

Lloyd’s will be rife with ‘holy grail’ intangible products in 30 years: TMK’s Hoad

The Lloyd’s market will be “rife” with products that will close the growing insurance gap between tangible and intangible risks in three decades’ time, Tokio Marine Kiln’s head of innovation Tom Hoad has said.

Scor joins Lloyd’s in being removed from Covéa’s XoL treaty

Paris-headquartered Scor will be removed from fellow French firm Covéa’s Eur1.6bn ($1.8bn) excess of loss (XoL) property cat treaty program when it renews at 1.1, The Insurer can reveal.

Lloyd’s sets sights on European business after Brexit: Neal

The chief executive of Lloyd’s has set out plans to target more business on the continent following the UK’s departure from the European Union.

Sirius 1945 leads Q3 PPL table as Lloyd’s syndicates beat target

Sirius Syndicate 1945 has topped the third quarter league table of Lloyd’s adopters of the e-placing platform PPL, with Lloyd’s syndicates accepting more than the mandated target of 60 percent of ‘in scope’ risks.

Blenheim 5886 secures 16% capacity increase

Asta-managed Blenheim Syndicate has received approval from Lloyd’s to increase its capacity to £250mn ($320.1mn) in 2020, up from £215mn in 2019.

Soros-backed Vibe becomes latest syndicate to close since Lloyd’s crack down

The George Soros-backed Vibe Syndicate 5678 has become the third full Lloyd’s syndicate to close as a consequence of the tough performance review led by the market’s head of underwriting, Jon Hancock.

TMK syndicates’ 2017 loss ranges narrow

Tokio Marine Kiln has released reduced loss forecasts for syndicates 510 and 557 for the 2017 financial year, based on positive back-year releases for closed years of account.