Lloyd’s of London
Lloyd’s targets sustainable assets with £250m investment fund
Lloyd’s has launched a £250m fund to invest in “sustainability-focused assets” across private equity, infrastructure, natural capital and real estate.
Gallagher buys Buck; Pen’s latest deal; Spring’s commercial PI binder
Friday Round-Up: Ahead of Good Friday and the Easter Bank Holiday, Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Big Interview: Wakam’s Olivier Jaillon
Jonathan Swift catches up with Wakam chief executive, and self-proclaimed rock’n’roll blockchain fan, Olivier Jaillon, to discuss the evolution of the go-to market for many insurtechs and brands seeking to sell embedded insurance.
Insure Our Future sends open letter to 30 fossil fuel insurers
Campaigners from Insure Our Future wrote to chief executives of 30 insurance companies pleading them to “scale up efforts” to avoid an “unmanageable” climate breakdown.
Best Lloyd’s underwriting result in years not enough to prevent pre-tax loss
Lloyd’s has posted a pre-tax loss of £769m for 2022, despite achieving its strongest underwriting result since 2015.
Semiconductor sector looks to the insurance industry to help close protection gap
A joint report from Lloyd’s and WTW has highlighted significant scope for collaboration between the semiconductor industry and insurers to address supply chain risks.
Aercap protests fail as Russian aircraft claims to be heard together
Five lawsuits in which aircraft leasing companies are collectively seeking more than $4bn for the loss of planes stranded in Russia are to be heard concurrently in one trial, a Commercial Court judge has decided.
Lloyd's appoints Bob James as chief operating officer
Lloyd’s has appointed Bob James, previously market transformation director, as chief operating officer.
Lloyd’s steps up worst-case scenario planning for cyber and geopolitical risks
Lloyd’s is conducting exercises with the aim of better understanding how a major cyber event or adverse geopolitical developments might give rise to losses for the market.
Lloyd’s working to address ‘awful’ infrastructure within the London Market
Rich Boyd, head of digital claims at Lloyd’s, has said the marketplace is working on a way to help insurtechs and start-ups to sell into and connect up to London-based underwriters’ tech systems.
War exclusions curb Beazley’s cyber growth
Updated war exclusions slowed down the growth of Beazley's cyber book last year, according to CEO Adrian Cox.
‘Father of the house’ of Lloyd’s Michael Meacock passes away
Michael Meacock, active underwriter for Meacock Syndicate 727, has passed away at the age of 85.
Hazards are still stalking the high seas for marine insurers
Analysis: David Worsfold examines how the Russia and Ukraine war has presented marine insurers with several tricky challenges, including insuring ships in the safe-grain corridor, and keeping abreast of the constantly changing sanctions regimes.
Diary of an Insurer: Gallagher's Andrew Corbin
Morning stretches mean Andrew Corbin, partner and chair of the race and ethnicity network at Gallagher, doesn't break into a sweat during renewal season while also working to make the industry more inclusive.
Diary of an Insurer: Zurich's Caroline Dunn
Caroline Dunn, chief underwriting officer of Zurich UK, learns from customer complaints, is humbled by LGBTQ+ colleagues sharing their experiences and unites with brokers to push for regulatory consistency.
PRA stress tests raise concerns about reliance on reinsurers
The Prudential Regulation Authority intends to assess reinsurance risks that could threaten the financial stability of some general insurers later this year.
Fidelis breaks ranks in Aercap lawsuit as insurers clash over defences
Fidelis has been permitted to join a $3.5bn lawsuit brought by the world’s largest aircraft leasing company Aercap as a third defendant, despite objections from fellow insurer AIG.
Lloyd’s Lab graduate Armd targets £6.5bn trades market
Armd, one of Insurance Post’s insurtech start-ups to watch in 2022, has recently graduated from the Lloyd’s Lab and used the experience to build a product designed to support the trades industry.
Metallica loses lawsuit against Lloyd’s underwriters
The Superior Court of the State of California has ruled Lloyd’s of London underwriters do not need to pay for losses stemming from Metallica's six South American concerts that were cancelled when Covid-19 struck.
Climate activists deliver festive gifts to Lloyd’s headquarters
As part of action which saw insurers receive ‘good’ and ‘naughty’ gifts reflecting their response to climate change, climate group Mothers Rise Up has today delivered a Christmas stocking full of fake coal outside Lloyd’s of London HQ.
Insurers slammed for insuring 'climate chaos' with UK coal mine
Lloyd's is remaining tight-lipped about who will insure the first UK coal mine approved in decades as campaigners accuse insurers contemplating offering cover for the project of causing "climate chaos."
Lloyd's syndicates may need to revise plans as they grapple with unprecedented circumstances, says Tiernan
Many Lloyd’s syndicates may need to resubmit their business plans for 2023 in the New Year as they grapple with a set of market circumstances that are “without recent precedent”, Lloyd’s chief of markets Patrick Tiernan has said.
Penny Black's Social World: December 2022
Footballing royalty, dementia help and catching fraudsters on TV.
How equine insurers are still going the distance to manage horse-racing risks
David Worsfold explores how equine insurers rose to the challenge of managing horse-racing risks in the midst of the Covid-19 pandemic, and are now handling today's hardening market