Lloyd’s, the world’s leading marketplace for insurance and reinsurance has today published a new report on how the rapid evolution of Generative Artificial Intelligence (GenAI) technology will impact the cyber risk landscape, requiring businesses to build greater resilience to these evolving threats.
Tag: Lloyd’s
Lloyd’s New Data Tool Highlights Vulnerability of the Global Economy to Extreme Weather
Lloyd’s, the world’s leading marketplace for insurance and reinsurance, today launched a systemic risk scenario that models the global economic impact of extreme weather events leading to food and water shocks, estimating the loss to be $5 trillion over a five year period.
Lloyd’s Updates LOC Guidance, Stresses Need to Check Validity
Lloyd’s has issued revised guidance for members and members agents on Tier 2 capital limits, which encompasses the use of letters of credit (LOC) in the marketplace and in it has stressed how important it is that LOC’s have their validity confirmed on a regular basis.
Lloyd’s in Talks with UN Over New Black Sea Grain Insurance Cover
Lloyd’s of London is in talks with the United Nations over providing insurance cover for Ukrainian grain shipments if a new Black Sea corridor deal can be reached, its CEO John Neal told Reuters on Thursday.
Lloyd’s CEO: Climate Is the ‘Biggest Single Opportunity’ the Insurance Industry Has Ever Seen
According to the CEO of the centuries-old insurance market Lloyd’s, climate is the “ultimate systemic risk” and represents “the biggest single opportunity the insurance industry has ever seen.” In an interview with CNBC, John Neal, the British company’s CEO, attempted to paint a picture of how his industry would operate in the future. “We think… Continue reading Lloyd’s CEO: Climate Is the ‘Biggest Single Opportunity’ the Insurance Industry Has Ever Seen
Lloyd’s Places Innovative Cover to Support Long-Term Market Growth
Lloyd’s, the world’s leading marketplace for the underwriting of commercial, corporate and specialty risk solutions, today announced it has secured a landmark £650 million five-year cover for the Central Fund which supports sustainable, profitable long-term market growth. The new and unique structure will also provide increased protection for Lloyd’s customers and the market against severe… Continue reading Lloyd’s Places Innovative Cover to Support Long-Term Market Growth
Lloyd’s Appoints New Rating Agency and Receives AA- Financial Strength Rating
Lloyd’s, the world’s leading insurance and reinsurance marketplace, today announced that it has appointed Kroll Bond Rating Agency (KBRA) to provide an additional independent opinion of Lloyd’s financial strength and further demonstrate the market’s exceptionally strong financial position to investors and customers. KBRA has assigned an AA- insurance financial strength rating (IFSR) to Lloyd’s with… Continue reading Lloyd’s Appoints New Rating Agency and Receives AA- Financial Strength Rating
New Lloyd’s Reinsurer Inigo Confirms $800M Launch Ahead of Jan 1 Renewals
New specialty insurer Inigo has confirmed the successful raising of $800 million from a consortium of global investors, providing the firm with the capital base required to proceed with its plans to open for business in the 2021 year of account. After reports started to circulate last week over a capital raise, Inigo has now… Continue reading New Lloyd’s Reinsurer Inigo Confirms $800M Launch Ahead of Jan 1 Renewals
Lloyd’s Targets $15B of New Business, 13% Growth in 2021: CEO Neal
The specialist Lloyd’s of London insurance and reinsurance marketplace expects to approve business plans that will enable the market to write roughly $15 billion of new business in 2021, according to Chief Executive Officer (CEO), John Neal. In the latest of Aon’s series of fireside chats with industry experts and leaders, Global Chairman of the… Continue reading Lloyd’s Targets $15B of New Business, 13% Growth in 2021: CEO Neal
Lloyd’s Offers Solutions to Fast-Track Societal and Economic COVID-19 Recovery
Lloyd’s, the world’s leading specialist insurance and reinsurance market, today published a number of ways the insurance industry could fast-track global economic and societal recovery from the far-reaching impacts of COVID-19. These include three open source frameworks, that help build future resilience through innovative partnerships and products together with a Centre of Excellence to better… Continue reading Lloyd’s Offers Solutions to Fast-Track Societal and Economic COVID-19 Recovery