Lloyd's

Carnegie-Brown to be chair of insurtech Cuvva

Lloyd’s chairman Bruce Carnegie-Brown has agreed to become chair of motor and travel insurance intermediary Cuvva.

Lloyd’s fights back in high profile investor dispute; claims liability exemption

The Society of Lloyd’s has denied allegations that it misled a prominent Lime Street investor into believing he could temporarily switch his unlimited liability status, in a dispute which could test the exemptions of liability enjoyed by the market’s ruling body.

Hiscox plans large increase in Lloyd’s 2020 capacity

Hiscox Syndicate 33 has proposed to raise its stamp capacity by more than a fifth, or £300mn ($372mn), next year to a total of £1.66bn, as the blue-chip carrier responds to rising rates and a weakening pound.

A long journey…

Yesterday John Neal unveiled his widely anticipated blueprint for his transformation programme, The Future at Lloyd’s.

MS Amlin cuts business classes in underwriting strategy overhaul

MS Amlin will exit a total of nine business lines and operations as part of parent MS&AD-led profitability drive.

Lloyd’s to pilot 2020 ILS trade and may review three-year accounting

Lloyd’s has committed to executing at least one ILS transaction next year under its soon-to-be-developed capital solutions platform and may review the market’s three-year accounting cycle to enable investors to exit their investments earlier, CEO John Neal confirmed today in his widely-anticipated Blueprint One paper.

Munich Re to launch Lloyd’s first ‘Syndicate-in-a-Box’ with another live by 1.1

Munich Re will be the first carrier to launch a ‘Syndicate-in-a-Box’ at Lloyd’s, a cornerstone initiative of the Corporation’s ‘The Future at Lloyd’s’ blueprint that has been launched today, with a second also to be live by 1.1.2020.

Neal: Future at Lloyd’s to cost “hundreds of millions not billions”

Lloyd’s CEO John Neal has promised the costs of his bold transformation programme will be “manageable” as he unveiled the widely-anticipated 147-page Blueprint One document that provides the first steps towards an advanced digital, data-led (re)insurance marketplace.

Beale “not surprised” by Lloyd’s sexual harassment claims

Former Lloyd’s of London CEO Inga Beale has said she was “not surprised” by the results of a damning market-wide culture survey showing nearly 500 workers in the marketplace had witnessed sexual harassment in the last year.

Lloyd’s poised to unveil Blueprint One

Lloyd’s CEO John Neal has already published a prospectus for change; an ambitious vision of a digital, data-led insurance market and later today comes Blueprint One, the first step towards practical implementation of his transformation program for the 300+ year-old market.

Industry leaders demand BAME data drive to close ethnicity pay gap: Dive In

Panellists speaking at a Dive In festival event in London earlier this week called for workforce ethnicity statistics to be collated for benchmarking and accountability purposes.

London Market Group confirms plans to wind down TOM

The Board of the London Market Group (LMG) has confirmed that the market modernisation programme – Target Operating Model (LM TOM) – is to cease operating in its current form.

Lloyd’s uses MIS satellite imagery to accelerate nat cat claims payments

Satellite imagery and analytics provided by geospatial intelligence firm, McKenzie Intelligence Services (MIS), is the latest component in Lloyd’s natural catastrophe claims-paying strategy, as time-stamped images help insurers to understand disasters and pay claims more quickly.

Now is the time to push hard for inclusion: Dive In

As the market digests the “uncomfortable” results of Lloyd’s first annual culture survey, CEO John Neal vowed that now is the time to “push hard” to effect cultural change in the industry during the opening discussion of the fifth annual Dive In festival today.

Lloyd’s culture survey results “pretty ugly”: Neal

The chief executive of Lloyd’s, John Neal has condemned the “uncomfortable” results of the culture survey and has once again vowed to take action against individuals and firms who do not fall in line with new standards for the market.

Lloyd’s rolls out action plan as culture survey reveals scale of market harassment

Lloyd’s has unveiled a strategic action plan to make the marketplace an environment “where everyone can feel safe, valued and respected” in the wake of reports of sexual harassment at One Lime Street.

Lloyd’s protects hotel profits with parametric cover

Lloyd’s has unveiled a profit protection policy designed for the hotel industry, automatically indemnifying policyholders when losses from an unforeseen event cross a predetermined threshold – led by Tokio Marine Kiln, with support from Chaucer, Munich Re Syndicate, Beazley, Faraday and Axis.

Inclusion impacts bottom line: Dive In

The vast majority of global attendees polled at this year’s Dive In festival said that inclusion is no longer an internal issue, but a client facing and commercial concern, a study by the organisers has found.

Analysts give Neal’s turnaround plans a cautious thumbs up

Lloyd’s half-year result was met with cautious optimism by analysts as market-wide pre-tax profits climbed from £0.6mn in 2018 H1 to £2.3bn this year.

Lloyd’s confirms Sansom in CRO role; “People officer” Andrews exits

Lloyd’s, which today reported a pre-tax profit of £2.3bn in H1 2018, has appointed David Sansom as its new Chief Risk Officer (CRO), subject to regulatory approval.

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