Lloyd's Archives - InsuranceAsia News https://insuranceasianews.com/industry_segments/lloyds/ Thu, 10 Oct 2024 10:07:25 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 BESS-wary markets look for leadership to bind risks https://insuranceasianews.com/gcubes-bess-consortium-aims-to-simplify-bess-claims-and-underwriting-amid-markets-hesitations/ Thu, 10 Oct 2024 23:30:52 +0000 https://insuranceasianews.com/?p=164441 Renewables specialist GCube's CEO says the market has to facilitate insurance on a more consistent approach as more projects appear around the world.

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While there is a lot of capacity for battery energy storage system (BESS), the challenge is finding carriers willing to provide lead capacity and set the terms and conditions for this type of risk, ac...

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]]> Newline continues Sydney expansion with Bec Smith hire https://insuranceasianews.com/newline-continues-sydney-expansion-with-bec-smith-hire/ Thu, 10 Oct 2024 03:35:32 +0000 https://insuranceasianews.com/?p=164559 Smith will join the Lloyd's coverholder as professional indemnity underwriter, reporting to Australia head of the line Nick Beswick.

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Specialty Lloyd’s coverholder Newline has appointed Bec Smith as an underwriter for its professional indemnity (PI) team based in Sydney, reporting to Australia head of PI Nick Beswick, according to a...

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]]> Markel expands India team with three underwriters in Mumbai https://insuranceasianews.com/markel-expands-india-team-with-three-underwriters-in-mumbai/ Wed, 09 Oct 2024 05:43:34 +0000 https://insuranceasianews.com/?p=164439 Srabasti Dhali has joined from Tata AIG as senior underwriter, specie; Aniket Mehta has been named marine cargo senior underwriter, while Ankur Saxena started as casualty underwriter.

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Specialty (re)insurer Markel International has expanded its team in Mumbai with the hiring of three underwriters,  according to a LinkedIn post by the company.
Mumbai-based Srabasti Dhali (pictured) h...

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]]> Lloyd’s logs best interim results since 2007 as H1 underwriting profit up 24% https://insuranceasianews.com/lloyds-logs-best-interim-results-since-2007-as-1h-underwriting-profit-up-24/ Thu, 05 Sep 2024 10:07:56 +0000 https://insuranceasianews.com/?p=162122 The market’s COR improved to 83.7% from 85.2% a year ago, as its underwriting profit rose to US$4.07bn, thanks to premium growth and better investment returns.

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Lloyd’s has posted an underwriting profit of GBP3.1 billion (US$4.07 billion) for the first six months of 2024, up 24% from GBP2.5 billion a year ago, driven by a combination of premium growth, lower ...

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]]> Agile launches New Zealand operation to strengthen Lloyd’s Pacific presence https://insuranceasianews.com/agile-becomes-the-first-lloyds-syndicate-to-enter-new-zealand-market/ Fri, 30 Aug 2024 08:53:01 +0000 https://insuranceasianews.com/?p=161714 The newly established Agile Insurance Group NZ will write general aviation, accident and health, casualty and professional lines.

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Australian managing general agent (MGA) Agile Underwriting Services has entered the New Zealand market through establishment of Agile Insurance Group NZ to support its Lloyd's syndicate, according to ...

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]]> AUB launches third strata MGA Rubix Underwriting as division’s pre-tax profit surges 58% https://insuranceasianews.com/aub-launches-third-strata-mga-rubix-underwriting-as-divisions-pre-tax-profit-surges-58/ Fri, 23 Aug 2024 08:20:50 +0000 https://insuranceasianews.com/?p=161160 The new entity will have Lloyd's as the capacity provider and will allow the broker to grow its strata portfolio which already includes brands SUU and Longitude. 

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Australian broker AUB Group has rolled out its third commercial strata managing general agent (MGA) Rubix Underwriting to strengthen its agency services, according to a broker press release. 
Lloyd’s ...

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]]> Australian underwriters incur 23% lower public liability claims in 2023 https://insuranceasianews.com/australian-underwriters-incur-23-lower-public-liability-claims-in-2023/ Thu, 22 Aug 2024 23:30:58 +0000 https://insuranceasianews.com/?p=161067 Lloyd's public liability claims doubled and PI claims went up 13 times in the country in the last year while other insurers' PI claims were 9% higher year-on-year across all states, according to the 2023 claims data released by the Australian Prudential Regulation Authority.

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Public liability gross claims incurred by Australian underwriters in 2023 accounted for AU$96.4 million (US$65 million) for AU$2.96 billion gross written premium (GWP), 23.5% lower than AU$128.4 milli...

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]]> Australia’s FTA Insurance expands public and products liability team with two hires https://insuranceasianews.com/australias-fta-insurance-expands-public-and-products-liability-team-with-two-hires/ Tue, 20 Aug 2024 05:30:28 +0000 https://insuranceasianews.com/?p=160838 Both Melbourne-based, Daniel Malic joins the financial lines-focused Lloyd's coverholder as national general liability manager, as Janelle Ferraro joins as general liability underwriter.

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Financial lines-focused Lloyd's coverholder FTA Insurance has appointed Daniel Malic as national general liability manager and Janelle Ferraro as general liability underwriter for its public and produ...

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]]> Renewables fuel Munich Re Specialty Asia syndicate’s regional diversification strategy https://insuranceasianews.com/renewables-fuel-munich-re-specialty-asia-syndicates-regional-diversification-strategy/ Mon, 19 Aug 2024 23:30:47 +0000 https://insuranceasianews.com/?p=160246 Following the rebranding of all primary specialty insurance entities under one brand, Munich Re's APAC underwriting hub in Singapore is diversifying away from its traditional focus on marine and energy and also expanding into cyber, political risks, financial lines.

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Munich Re’s Lloyd’s Asia platform’s diversification play with a focus on specialty lines is riding on the region’s energy transition push.
Munich Re Specialty – Global Markets, Syndicate Asia, which i...

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]]> Canopius CEO highlights strong pipeline for APAC H2 growth https://insuranceasianews.com/canopius-ceo-highlights-strong-pipeline-for-apac-h2-growth/ Tue, 13 Aug 2024 23:30:06 +0000 https://insuranceasianews.com/?p=160365 With a new regional CEO in place, the carrier is optimistic about growth prospects for the remainder of the year.

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Lloyd’s player Canopius’ regional operations, which are written out of Lloyd’s Singapore hub, are expected to see improved growth during the second half of 2024 (H2 2024) after double-digit growth in ...

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