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...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...Lloyds is two years in to a £4bn, five-year investment plan to diversify its income away from mortgages towards income streams less dependent on interest rate changes including wealth management and insurance...
...The insurer is due to underwrite about £2bn of business within Lloyd’s this year and then grow that as a central part of owner Mitsui’s five-year strategy to reach £3bn within Lloyd’s and the so-called company...
...This year, the company will write around £2bn of business within Lloyd’s itself....
...Insurance prices are surging as companies look to repair their margins after years of significant losses from severe weather to insured properties, exacerbated by inflation in rebuild costs....
...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...Lloyd’s, which dates back to a 17th-century London coffee shop, apologised three years ago for its role in the trade, whereby insurance offered in the market underpinned the trade of enslaved people, who...
...Aspen is owned by private equity group Apollo and sells insurance and reinsurance through the Lloyd’s of London market as well as in Bermuda and the US....
...Mitsui Sumitomo Insurance also recently announced expansion plans for its Lloyd’s insurer. But there is a fragility to this recent success....
...Lloyd’s of London has delivered its best underwriting performance since 2007 and signalled that commercial insurance prices are likely to stay high in the coming years....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...The proposed tie-up is the most ambitious move yet by Nationwide’s chief executive Debbie Crosbie as the country’s largest building society tries to break the grip of HSBC, Lloyds, Barclays and NatWest on...
...Under the terms of the transaction, Nationwide will pay 218p in cash for each share of Virgin Money and a final dividend of 2p, the companies said on Thursday....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Lloyd’s of London and Arch Insurance are listed as representative defendants on behalf of the multiple insurers on the policies....
...Analysts at RBC Capital Markets have estimated the car financing problems, which have echoes of the payment protection insurance scandal, could cost Lloyds £2.5bn, more than any of its rivals....
...White said the materials underlined the relationship between Lloyd’s and the African Company of Merchants, a key slave-trading venture, and revealed the role of several members of the governing committee...
...Lloyd’s said the agreement with Chinese insurance company Ping An, which has owned the building for a decade, will allow it to continue its renovation of workspaces and make further refurbishments, including...
...from state-owned insurance companies....
...Such an attack could cause $3.5tn in global economic damage, according to modelling by the Cambridge Centre for Risk Studies for the Lloyd’s of London insurance market, released in October....
...LIU had intended to use the funds to invest in Lloyd’s of London, the world’s oldest insurance market....
...Cyber insurance is one of the fastest-growing markets as companies look for coverage following a surge in ransomware attacks....
...wealth management and insurance....
...Insurance prices in Europe will have to rise, the chief executive of Lloyd’s of London has warned, as insurers react to the spate of extreme weather events over the summer....
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