Yesterday John Neal unveiled his widely anticipated blueprint for his transformation programme, The Future at Lloyd’s.
The revelation that Lloyd’s is being accused of “bad faith” in the High Court by a high profile Name has shone a light on this determined-but-small community of private investors who may prove a challenge to CEO John Neal’s plans to overhaul some of the market’s complicated structures.
Co-founder and chief executive of cyber-focused Insurtech and MGA Envelop Risk, Jonathan Spry, applauds Lloyd’s mandate to eliminate non-affirmative or “silent” cyber risks and predicts it could provide a fillip for the nascent cyber reinsurance market…
As Lloyd’s awaits the next stage of its transformation, which already promises encouraging headway in improving efficiency, exclusive analysis from The Insurer has revealed that the true drag on Lloyd’s combined ratio is the consistently high cost of brokerage at the 331-year-old marketplace.
Shares in financial services investment firm BP Marsh & Partners were trading up over 8 percent on Tuesday after the firm reported a profit after tax of £5.6mn ($7.0mn) and a 4 percent increase in the equity value of its portfolio for the six months ended 31 July 2019.
MS Amlin placed its aviation book into immediate run-off after airline clients elected to find alternative capacity at the start of the critical fourth quarter renewal period, The Insurer can reveal.
Axa XL has named Peter Welton its new UK head of energy, replacing Luis Prato, who was promoted to chief underwriting officer for UK legal entities in September.
Globe Underwriting, the managing general agency which is part of BGC Insurance Group, has appointed Dan Watson to the role of senior engineering underwriter.
Broker Beach & Associates has hired Gavin Johns and Richard Emson from JLT Re to its London Wholesale division.
The London Market Group has announced that Lloyd’s head of policyholder and third-party oversight, Paul Brady, will assume the role of market sponsor for the delegated authority efficiency drive at Lloyd’s.