S&P Global Ratings (S&P) has said that Lloyd's year-end 2021 results are better than its expectations and reflect the remedial actions that management has taken over the past four years.
Lloyd's, the world's leading marketplace for commercial, corporate and specialty risk solutions, yesterday announced a strong return to profitability in its 2021 full-year financial results, with an overall profit of GBP2.3bn [$3.0bn] (2020: GBP0.9bn loss) and a combined ratio of 93.5% (2020: 110.3%) - the best quality result reported for six years.
Access to financial services may soon become difficult as requirements to protect biodiversity raise significant liability and litigation risks over the next two years according to a new report by Clyde & Co.
The Insurance Federation of Egypt (IFE) has suggested that the premium for museum insurance be added to the price of entry tickets to museums and other historical sites, in a move similar to including transport insurance premiums in metro and train fares.
Oman Insurance Company (OIC) and Asta, a leading third-party managing agent at Lloyd's, have announced that OIC's syndicate 2880 has received Lloyd's approval to commence underwriting.
A nuclear insurance pool will be established in order to provide coverage against the risks faced by operators of nuclear facilities, according to the Nuclear Regulation Law Proposal accepted by the Turkish Grand National Assembly.
The pricing of one of the largest insurance contracts in India in recent years -- related to nuclear power units at Kudankulam in southern India -- is a matter of contention between the nation's largest state-run general insurer and only locally-incorporated reinsurer.
Hong Kong-based Shanghai Electric Insurance Limited (SEIL) plans to grow its traditional lines of business, going forward, but meanwhile, it will underwrite risks from the group's overseas engineering projects.
A leading specialist New Zealand-headquartered underwriting agency has opened for business in Australia, building on its recent success expanding into the Asia Pacific.
The Lloyd's Blueprint Two digital transformation programme will allow market participants to innovate in the way they serve their customers, and operate more efficiently, at a lower cost base, says Lloyd's in a statement.