All the headlines from our Lloyd's Topic Page, ordered by recency.
Jan 18 2002 // Confirming earlier reports (See IJ Website Jan. 16), Lloyd’s announced that its ruling body, the Council of Lloyd’s, has put forth a radical plan to restructure the way the 300 year old market does business. If...
Jan 14 2002 // A.M. Best Co. affirmed the “A-” rating of the Lloyd’s market and has removed the “under review” status of the rating, which was applied in the aftermath of the terrorist attacks in the U.S. on...
Jan 14 2002 // A.M. Best Co. affirmed the “A-” rating of the Lloyd’s market and has removed the “under review” status of the rating, which was applied in the aftermath of the terrorist attacks in the U.S. on...
Jan 4 2002 // A.M. Best Co. assigned an initial financial strength rating of A- (Excellent) to Goshawk Reinsurance Limited (Goshawk Re), the recently established Bermuda-based subsidiary of the U.K.’s Goshawk Insurance Holdings...
Jan 3 2002 // The number of individual investors in Lloyd’s syndicates, known as Names, continues to decline, falling from 2,852 last year to 2,490 currently, a 13 percent decrease. As corporate capital becomes increasingly the...
Dec 28 2001 // A.M. Best Co. has assigned an indicative financial strength rating of A- (Excellent) to Danish Re Bermuda Ltd., “a global reinsurer which underwrites at Lloyd’s as an Integrated Lloyd’s Vehicle and...
Dec 24 2001 // In what became one of the most significant, traumatic and challenging years in U.S. history, the insurance industry, along with the rest of the nation, has had to come to terms with the terrorist attacks perpetrated...
Dec 20 2001 // London’s Financial Times carries a report that the European Commission has completed a preliminary investigation of Lloyd’s operations and may well “open formal proceedings against the UK...
Dec 18 2001 // A.M. Best announced that it has affirmed Lloyd’s “A- (Excellent) rating and has removed the “under review” status of its rating, which it applied shortly after the September 11 attacks.Best...
Dec 17 2001 // Recollections and Renewal: Looking Back at 2001 with an Eye to the FutureThis is the year that was. It is one that many people will be glad to see come to an end because the new year always brings hope—for a rebirth, for...
Dec 13 2001 // The rumors of Lloyd’s demise seem to have been premature, as the London market announced record breaking capacity for the year 2002 of around £12.3 billion ($17.5 billion), an increase of $1.8 billion over this...
Dec 12 2001 // Julian James, Lloyd’s Director of Worldwide Markets, speaking at a conference in Paris, warned that marine underwriters should rethink and restructure the way they they write risks, as bigger vessels, more passengers...
Nov 29 2001 // Maurice “Hank” Greenberg, the CEO of American International Group and Lloyd’s Chairman Saxon Riley met yesterday at a ceremony marking the opening of a new AIG-backed syndicate at Lloyd’s. They were...
Nov 28 2001 // Lloyd’s revised estimates of the net losses suffered by its syndicates as a result of the destruction of the World Trade Center and related events to £1.9 billion ($2.7 billion), £600 million ($849...
Nov 28 2001 // Bermuda’s XL Capital announced that it “is realigning” its Lloyd’s operations. As of January 1, 2002 it will take over all the funding of two syndicates run by XL Brockbank Ltd., and two other...
Nov 28 2001 // Two of the world’s biggest insurance brokers are growing. Arthur J. Gallagher & Co. announced that it had acquired MRS Holdings Ltd. of London for an undisclosed amount, and Willis Group Holdings said it will...
Nov 16 2001 // Lloyd’s has deposited around $2 billion into its reinsurance trust account, administered by the New York State Insurance Department – 60 percent of its projected reinsurance liabilities, as agreed with the...
Nov 7 2001 // Lloyd’s is preparing to meet with representatives of the NAIC and the accounting firm Arthur Andersen to lay out the parameters for the audit of its reinsurance liabilities in conformity with the NAIC’s...
Nov 2 2001 // Underwriters at Lloyd’s of London and London Market insurance companies won an important reinsurance case recently when the New York Court of Appeals ruled that Travelers Casualty & Surety Company could not...
Nov 1 2001 // Lloyd’s took issue with Moody’s Investors Service’s decision to downgrade five of its leading underwriting syndicates, and its implications that the provisions of its central fund, which is called upon to...