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
Tag: Lloyds of London
Lloyd’s to Exit U.S. Admitted Market, Focus on Reinsurance and E&S
Insurance and reinsurance marketplace Lloyd’s of London has announced that it plans to strengthen its focus on the US reinsurance and excess and surplus (E&S) markets. As part of this strategy to focus on its core markets, Lloyd’s will relinquish its admitted licences in the US Virgin Islands (US VI), Kentucky and Illinois. Together, these… Continue reading Lloyd’s to Exit U.S. Admitted Market, Focus on Reinsurance and E&S
Lloyd’s Underwriters Adapt to Home Working
Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they have abandoned the normal tools of their trade and are turning to email and other electronic systems to agree terms with… Continue reading Lloyd’s Underwriters Adapt to Home Working
Lloyd’s Falls to 2019 Underwriting Loss, COVID-19 Drives Down Solvency Ratio
The specialist Lloyd’s of London insurance and reinsurance marketplace has reported an unprofitable underwriting performance for 2019, with its full year results also revealing a decline in its central solvency ratio as a result of financial market volatility driven by the COVID-19 outbreak. Albeit improved on the previous year, Lloyd’s has reported a combined ratio… Continue reading Lloyd’s Falls to 2019 Underwriting Loss, COVID-19 Drives Down Solvency Ratio
Lloyd’s of London to Close Underwriting Room from Today
Insurance market Lloyd’s of London is to close its underwriting room from 4pm today because of the coronavirus crisis. Last Friday it closed its underwriting room, which is at the heart of its Lime Street headquarters, to simulate a shutdown and test its contingency systems. Lloyd’s has been trying to push the market to move… Continue reading Lloyd’s of London to Close Underwriting Room from Today
Lloyd’s of London Seeks Estimates for Coronavirus-Related Losses
Lloyd’s of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand its possible overall losses from the impact of the pandemic. Lloyd’s was working with British and overseas regulators to formulate its response to the… Continue reading Lloyd’s of London Seeks Estimates for Coronavirus-Related Losses
In Wake of Coronavirus, Lloyd’s Announces Plans to Stress Test the Market and Corporation Resilience
Lloyd’s will test the resilience of the market on Friday 13 March by closing the Underwriting Room at 1 Lime Street in London for 24 hours in order to test alternative trading protocols. The measures announced today include: Lloyd’s market Lloyd’s business continuity team has assessed the Lloyd’s market’s readiness to continue trading if the… Continue reading In Wake of Coronavirus, Lloyd’s Announces Plans to Stress Test the Market and Corporation Resilience
Leading Cultural Transformation Experts Join Lloyd’s Culture Advisory Group
Lloyd’s today confirmed the membership of its independent Culture Advisory Group. The Group has been set up as part of a comprehensive action plan to drive long-term culture change in the Lloyd’s market. It will provide expert advice and robust challenge to help ensure that Lloyd’s is taking the right actions to effect sustainable and… Continue reading Leading Cultural Transformation Experts Join Lloyd’s Culture Advisory Group
Clyde & Co: 2020 Will Be a Turning Point in Lloyd’s History
Insurance law firm Clyde & Co has suggested that in 2020 we will see Lloyd’s of London take control of its future by implementing the key initiatives proposed in Blueprint One. Analysts from the law firm say Lloyd’s has already taken control of performance via Decile 10, a program they say has driven “clear improvement… Continue reading Clyde & Co: 2020 Will Be a Turning Point in Lloyd’s History
Lloyd’s of London Issues Trans and Non-Binary Inclusion Guide
Lloyd’s of London has issued a guide to the inclusion of trans and non-binary people as part of a cultural overhaul at the insurance market after a damaging sexual harassment scandal. The 29-page document, published on the Lloyd’s website, offers advice and resources to people working in insurance about how to foster a “stable emotional… Continue reading Lloyd’s of London Issues Trans and Non-Binary Inclusion Guide