Lloyd's

Argo’s Syndicate 1200 withdraws from Asia and hull

ArgoGlobal Syndicate 1200 is to cease underwriting operations in Asia and plans to pull most of its hull underwriting business globally.

Lloyd’s suspends A&H underwriter for drink-related incident

Pembroke Syndicate’s head of personal accident Marc McLean was temporarily suspended from Lloyd’s of London following an alcohol-fuelled incident that led to a complaint from an Australian coverholder, as the Corporation continues to make good on its zero-tolerance approach to market misconduct, The Insurer can reveal.

Neal’s Lime Street revolution exposes Lloyd’s capital conundrum

The revelation that Lloyd’s is being accused of “bad faith” in the High Court by a high profile Name has shone a light on this determined-but-small community of private investors who may prove a challenge to CEO John Neal’s plans to overhaul some of the market’s complicated structures.

LMG appoints Brady as delegated authority platform sponsor

The London Market Group has announced that Lloyd’s head of policyholder and third-party oversight, Paul Brady, will assume the role of market sponsor for the delegated authority efficiency drive at Lloyd’s.

Jebi and Michael deterioration hits Lloyd’s big guns in latest syndicate forecasts

A number of heavyweight Lloyd’s (re)insurers have posted worsening 2018 results because of a deteriorating claims experience from Japan’s Typhoon Jebi and the US’ Hurricane Michael but in contrast the market’s 2017 result continues to improve, analysis of the latest syndicate forecast returns by The Insurer has shown.

Wickshire becomes first Australian Lloyd’s broker

Sydney-based reinsurance and binder broker, Wickshire Pty Ltd, has been approved as a Lloyd’s of London broker, making it the first intermediary based in Australia to achieve this status.

Lloyd’s sued for “bad faith” by high profile investor Harry Parshall

The Society of Lloyd’s is being sued by the high-profile London market figure Harry Parshall in a dispute which may test the boundaries of Lloyd’s liability to its members.

Markel leads Q2 e-placement table as Lloyd’s exceeds target

Markel Syndicate 3000 has flown to the top of the second quarter league table of Lloyd’s adopters of PPL – the e-placing platform that was rolled out in the London subscription market 18 months ago – after ranking 42nd in Q1.

Lloyd’s selects third insurtech cohort

Lloyd’s of London has named the 11 insurtech ‘disruptors’ that will join the Lloyd’s Lab for a ten-week programme on 2 September, as part of the Future at Lloyd’s plan.

Odyssey’s Newline joins Lloyd’s Mexico

Newline, the international specialty arm of Fairfax-owned Odyssey Re, has launched Newline Latin America via the Lloyd’s license in Mexico.

Moffatt replaces Eccles as ArgoGlobal active underwriter

ArgoGlobal, the Lloyd’s arm of Argo Group, has named John Moffatt the active underwriter of Syndicate 1200 as predecessor Steve Eccles “will commence leave” with immediate effect, after a year and a half in the role.

Hiscox shares dip despite earnings win

Hiscox shares dipped on Monday morning following the release of its h1 results despite the Lloyd’s blue chip delivering profits at the upper end of its guidance range for the first half of 2019.

PSC to acquire London market broker Paragon for £42mn

Australian broking house PSC Insurance Group has announced the acquisition of its third Lloyd’s and London market broker with the purchase of Paragon International Holdings for a base consideration of £42.0mn, with the final consideration subject to adjustment based on 2019 and 2020 Ebitda.

Britain’s new Prime Minister and the cunning Lloyd’s fraudster

Boris Johnson has been appointed leader of the Conservative Party and tomorrow will meet the Queen before sweeping into 10 Downing Street as Britain’s 54th Prime Minister since Sir Robert Walpole.

TigerRisk continues expansion with Lloyd’s capital advisory move

Former Lloyds Bank head of insurance Bill Cooper has reemerged at the London-office of expansive reinsurance broker TigerRisk, The Insurer can reveal.

Beale: punish UK companies that don’t tackle gender inequality

Dame Inga Beale – the former chief executive of Lloyd’s of London – has called on the government to impose financial levies aimed at punishing companies that aren’t seen to be tackling the gender imbalance in the workplace.

AFL take UIB duo for property and energy business

Independent Lloyd’s broker AFL Insurance Brokers has named Mark Ritson and Peter Draper as directors of international property and energy.

Lloyd’s pays 20% premium for non-execs

Lloyd’s businesses pay nearly 20 percent more than their company market, or MGA counterparts, to their non-executive directors, according to the results of research released today by London-based insurance head-hunter Damhurst.

Lloyd’s not-so silent cyber clean up provides reinsurance opportunity

Co-founder and chief executive of cyber-focused InsurTech and MGA Envelop Risk, Jonathan Spry, applauds Lloyd’s mandate to eliminate non-affirmative or “silent” cyber risks from policies incepting from 1.1 next year and predicts it could provide a fillip for the nascent cyber reinsurance market…