Lloyd's

Beazley launches US reputational risk consortium at Lloyd’s

London carrier Beazley has launched a consortium along with other Lloyd’s insurers to provide cover for reputational risks – Custodian Consortium.

ProAssurance Lloyd’s topline rockets 90%

ProAssurance saw its gross written premium at Lloyd’s swell by 90 percent in the first quarter to $23.6mn on the back of new business written, primarily in the property space as well as an uptick in renewal business.

Allied World’s marine vice president Reuben exits

Pene Reuben, vice president and marine liability underwriter, has left (re)insurer Allied World, The Insurer can reveal.

Trust Re names Al Zain CEO following Abunahl exit

Bahrain-based Trust International Insurance & Reinsurance Company (Trust Re) has appointed Talal Al Zain as Group chief executive officer.

Lloyd’s syndicates denied recovery of $500mn Chevron “Big Foot” loss

The Fifth Circuit appeals court has denied efforts by Lloyd’s syndicates - including ones owned by Munich Re, QBE, Chaucer and Aegis - to recoup more than $500mn in losses from a steel tendon failure on a Chevron oil-drilling platform in 2015.

Munich Re Syndicate Singapore partners with coverholder Nectar

Munich Re Syndicate Singapore – the Asia-Pacific arm of the Dominick Hoare-led Lloyd’s syndicate – has continued its expansion in the region, entering a partnership with coverholder Nectar Specialty Risk.

Canopius signs AmTrust at Lloyd’s merger agreement

PE-backed Canopius has moved a step closer to completing its landmark merger of its Lloyd’s business with AmTrust’s, after signing a definitive sale and purchase agreement, a move that will catapult the carrier into being a top-five Lloyd’s insurer.

Appeals court gives reinsurers a victory in Equitas asbestos ruling

The keenly-anticipated Equitas v MMI judgment has provided the reinsurance industry with welcome judicial guidance that insurers cannot present 100 percent of employers’ liability (EL) mesothelioma claims to any year of cover they choose.

Aquiline makes U-turn on ERS sale

Private equity firm Aquiline Capital Partners is no longer exploring sale options of its motor-focused Lloyd’s syndicate ERS.

Lloyd’s pushes forward ‘action plan’ to tackle harassment

Lloyd’s has gone live with two initiatives that have been created in recent weeks to address reports of sexual harassment in the market.

Canopius pushed to Lloyd’s top-five with AmTrust deal

PE-backed Canopius will be catapulted into being a top-five Lloyd’s carrier responsible for circa £2.01bn of annual written premiums on the assumption it completes its acquisition of AmTrust’s Lloyd’s business, analysis by The Insurer shows.

We will be draconian: John Neal

The chief executive of Lloyd’s of London has told this publication the Corporation would publicly bring the full weight of its power down on perpetrators of sexual misconduct in the market.

Fairfax overtakes MS Amlin to become largest Lloyd’s insurer in 2018

Fairfax became the largest (re)insurer operating on the Lloyd’s platform in 2018 leapfrogging traditional #1 carriers measured by GWPs – MS Amlin and XL Catlin (now AXA XL).

Lloyd’s to call time on ‘under-the-influence’ from entering building: reports

Lloyd’s is to ban people under the influence of alcohol or illegal drugs from entering One Lime Street, according to reports.

Arcus Syndicate shakes-up strategy after 2018 loss

Credit Suisse’s Arcus 1856 is repositioning its portfolio after exiting a whole account quota share it has had in place with Barbican’s serial loss-making Syndicate 1955.

Risks bound on PPL tops 50,000

Over 50,000 risks have now been bound on the Lloyd’s electronic placing platform PPL.

StarStone Syndicate losses widen; slims book for 2019

Enstar-owned StarStone’s Lloyd’s Syndicate 1301 remained in the red for a second year running after reporting a loss of £89.1mn over 2018.

Up-for-sale Lloyd’s motor business ERS produces best performance since 2013; Securis continues investment

Motor-focused Lloyd’s syndicate ERS returned to profit in 2018, producing its best result since 2013 and confirmed that it is still backed by Securis, the ILS fund manager which was thought to have withdrawn all of its Lloyd’s investments in 2019.

Broker PPL adoption breaks 100 threshold

The number of brokers registered on the Lloyd’s e-placement platform – PPL – has exceeded 100 for the first time, according to figures from the London and International Insurance Brokers Association (LIIBA).