Lloyd’s of London
MGA Arkel secures £25m of new Lloyd’s capacity
Arkel has secured an additional £25m delegated authority binder with Axis for landlords’ let property.
Aviva UK&I GI boss Storah “bullish” commercial rates to hold steady throughout 2024
Aviva UK and Ireland general insurance CEO Jason Storah is confident that most of the wider commercial sector will continue to hold its nerve over rate and not chase short-term market gains – for now, at least.
30% premium growth sees Aviva UK&I PL arm overtake commercial at HY 2024
Aviva has reported that its UK & Ireland premiums increased 18% to £3,809m in the first six months of 2024 (HY23: £3,219m) with strong growth across all business lines, especially personal.
AM Best upgrades Lloyd’s to A+ and AA-
AM Best has raised the financial strength rating of Lloyd’s to A+ (superior) from A (excellent) and the long-term issuer credit rating to AA- (superior) from A+ (excellent).
Aviva completes £249m Probitas buy
Aviva has completed the £249m purchase of Probitas after getting all the necessary approvals.
Experts call for vigilance in ever-changing cyber risks landscape
Panellists at the Financial Times Global Insurance Summit yesterday called for more education on and prevention of cyber risks.
Direct Line confirms Milliner to lead on claims in raft of management changes
Direct Line Group has confirmed the appointment of Martin Milliner as managing director of claims, as revealed earlier this week by Insurance Age.
Macquarie MGA granted Lloyd’s coverholder status
Macquarie Insurance Facility is to expand its insurance capabilities following approval as a Lloyd’s coverholder.
Rokstone acquires box at Lloyd’s
Managing general agent Rokstone has taken box 355 located on gallery three at Lloyd’s, in a three year deal.
Bissell & Partners adds Lloyd’s broker status to offering
Bissell & Partners has been authorised as an independent boutique Lloyd’s insurance broker.
Lloyd’s reports £10.7bn pre-tax profit for 2023
Lloyd’s swung back into the black in 2023 with £10.7bn of pre-tax profit reversing a red ink loss of £800m the year before.
Gen AI to increase cyber attacks warns Lloyd’s
A new report has found that the impact of generative artificial intelligence is likely to increase the frequency, severity and diversity of smaller scale cyber attacks over the next one to two years.
Lloyd’s teases FY23 results by revealing £5.9bn underwriting profit
Lloyd’s has provided a trading update on its 2023 full-year financial performance.
Beazley’s profit before tax soars 115%
Beazley has reported its profit before tax leapt to $1.25bn (£984m) in 2023, a 115% increase on the year before.
Lloyd’s hits 2020 women leadership target as it unveils latest DE&I data
Lloyd’s has admitted it has a “way to go” on its “culture journey” after hitting its short-term target of 35% of leadership positions (+3 percentage points) to be filled by women, set in 2020.
Aviva re-enters Lloyd’s with £242m Probitas buy
Aviva has signed up to buy all of Probitas for £242m, signalling a return to the Lloyd’s market.
People Moves: 19-24 February 2024
Follow the latest insurance personnel moves.
MGA to branch out with new life sciences Lloyd’s launch
Asta, through its third-party managing agency at Lloyd’s, has received “in-principle” approval for a new syndicate-in-a-box to deliver a product that aims to accelerate the development of new therapeutic drugs.
FCA seeks data from London market firms on discrimination, harassment and bullying
The Financial Conduct Authority has written to London market and Lloyd’s insurance companies seeking information related to incidents of “non-financial misconduct”.
Howden claims “first of its kind” with carbon capture and storage insurance facility launch
Howden has launched a product that it claimed will “unlock vital investment to support the global transition to net zero”.
Politics and future of trading lead Liiba’s 2024 agenda
Politics, artificial intelligence and the campaign to get underwriters and brokers back into the Lloyd’s underwriting room lead the London & International Insurance Brokers Association’s 2024 agenda.
Insurtech ARMD expands into the broker tradespeople market
ARMD, an insurtech, has formed a managing general agent to target brokers interested in the £6.5bn UK tradespeople insurance market.
Lloyd’s confirms staying in iconic HQ until 2035
Lloyd’s of London has confirmed the extension of its lease to stay in its famous headquarters at One Lime Street until 2035 with an option to remain until 2040.
Lloyd’s to stay in iconic headquarters until 2035 – report
Lloyd’s of London has struck a deal to stay in its famous headquarters at One Lime Street until at least 2035, according to the Financial Times.