Lloyd’s
Lloyd’s of London represents a key global hub for specialty re/insurance risks. The market’s high cost base and traditional reluctance to embrace technological reform has raised questions about its competitiveness, prompting the launch of The Future at Lloyd’s initiative in 2019. This section contains news, analysis and insight examining developments in this project as Lloyd’s works to strengthen its position in the global specialty re/insurance industry.
Viewpoint: Pandemic could provide boost to Lloyd's lead/follow reforms
Covid-19 is changing the way the market works and many changes will remain in the long term
Atrium invests in technology to empower underwriters
The Lloyd's insurer is using data analysis and other tools to enable the underwriting function to have more autonomy and make better decisions
Pressure of Lloyd’s efficiency drive shows as carriers exit Asia hubs
Lloyd’s hubs in Asia have seen several closures recently, although appetite for Asian risk among London’s carriers is varied and the closure of regional operations is by no means permanent
Nuclear insurers struggle to impose rate increases as competition mounts
Competition and the ability of operators to self-insure through captives and industry mutuals are keeping nuclear insurance rates down, despite rising non-nuclear attritional losses
Opportunity for London as East Asia governments move to develop Islamic economy
Malaysian and Indonesian government measures to kick-start local Islamic economy open doors for London market to provide Shariah-compliant products
Focus: It is vital to be clear about the script before speaking up about silent cyber
The practical and legal implications of affirming or excluding cyber risk in policies can be challenging for carriers
Smaller syndicates attempt to find their voice in 2020
The recent flurry of Lloyd’s run-offs has highlighted the need for smaller players to focus on their core strengths as sustainable profitability continues to prove elusive
Viewpoint: The sharing economy is rewriting the rules of insurance
The insurance industry can no ignore the revolution brought about by the combination of technology driven business models and the changing priorities of a younger generation
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