Lloyd’s of London
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.
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.
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.