Lloyd’s of London
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.
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.
Review of the Year 2023: OneAdvent’s Tim Quayle
Tim Quayle, CEO of OneAdvent, admits relief that the hype around blockchain has rescinded and wonders if it is time for Lloyd’s to turn its iconic building into a shared office space for the market…. with beer on tap.
People Moves: 4-8 December
Stay in the loop with the latest insurance personnel moves.
Walsh and Newman to exit after Lloyd’s misconduct investigation into CFC
CFC group CEO David Walsh and Graeme Newman, CEO of CFC Underwriting, will leave in 2024, the provider has confirmed following the completion of an investigation by Lloyd’s into allegations of non-financial misconduct at the company.
Pen takes box at Lloyd’s
Pen Underwriting has taken a box at Lloyd’s, which will be staffed initially with a marine team ahead of diversifying into complementary products and other lines.
Travelers snaps up cyber specialist for $435m
Travelers has agreed to acquire cyber insurance managing general underwriter Corvus Insurance for approximately $435m (£351m).
Opinion: How SME brokers can seize the opportunity of the regulators’ post-Brexit regime
The post-Brexit insurance regime has flushed out the unstable offshore insurers that once passported into the UK through Europe. Some of the hard-to-place risks will have less options, so brokers must now step up and show their worth.
Could regulators stymie the growth of the fronter market in the UK?
The failure of Vesttoo in the US has only increased scrutiny on fronters in the UK. But as Saxon East discovers the emergence of Bridgehaven and continued growth of the MGAs, mean that they still have a potentially bright future.
Profile – Stephanie Ogden, HDI Global: Making a difference
Having progressed from a graduate trainee in Guildford to Allianz branch manager in Scotland, and via Lloyd’s in London to UK & Ireland managing director for HDI Global, Stephanie Ogden is ready to take brokers on the next step of the German-owned…
Lloyd’s more than doubles half-year underwriting profits and grows GWP
Lloyd’s more than doubled underwriting profits in the first half of the year to £2.5bn from £1.2bn in the same period of 2022.
London-based 1783 Group joins Brokerslink
Brokerslink has added sports, music and entertainment contingency broker 1783 Group to its network.
Clive Buesnel exits Tysers following sale to AUB Group
Tysers has announced that Buesnel, who became CEO of the business in June 2020, is set to leave at the end of August.