Lloyd’s to Cut 10% of UK Employees on Soft Market Pricing Pressures
Lloyd’s of London is planning to cut 10 percent of its staff in the UK as the world’s oldest insurance market looks to streamline operations and reduce costs amid continued pricing pressure on its...
View ArticleBusinesses Underestimate Long-Term Effects of Cyber Attacks: Lloyd’s Report
Businesses could face a much higher bill than they expect or are prepared for after falling victim to a cyber-attack, according to research from Lloyd’s in association with KPMG and legal firm DAC...
View ArticleMajor Cyber Attack Could Cost Global Economy $53 Billion: Lloyd’s
A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London...
View ArticleUpdate: Lloyd’s of London Reports 16% Drop in H1 2017 Profit to $1.6B
Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
View ArticleInsurers, Tech Firms ‘Must Work Together’ to Tackle Emerging Technology Risks
The World Economic Forum is bringing insurers, tech firms and governments together to find ways to tackle risks from new technology such as drones and driverless cars, it said on Thursday. Tech firms...
View ArticleLloyd’s Reports US$4.9 Billion (£3.2 Billion) Profit for 2014, Level With 2013
Lloyd’s announced a pre-tax profit of US$4.9 billion (£3.2 billion) for 2014, which is unchanged from the profit figure reported in 2013. The 2014 profit was driven by a relatively benign year for...
View ArticleUpdate: Lloyd’s of London H1 Profit Decreases 28% on Competitive Pressures
Lloyd’s of London insurance market posted a 28 percent drop in first-half pretax profit on Thursday and said pricing remained tough in a competitive market. The insurance and reinsurance markets have...
View ArticleLloyd’s CEO Beale, 5 Others in Insurance Named LGBT Role Models
Inga Beale, CEO of Lloyd’s of London, has been named an outstanding lesbian, gay, bisexual and transgender (LGBT) executive role model by the London-based LGBT business organization OUTstanding and...
View ArticleMcGovern Leaving Lloyd’s as CRO to Join XL Group as Chief Compliance Officer
XL Group plc announced it has appointed Sean McGovern as chief compliance officer, head of Regulatory & Government Affairs, moving from Lloyd’s of London where he is chief risk officer and general...
View ArticleLloyd’s Names Former Generali Exec, Vagnone, as Strategy & Change Director
Lloyd’s announced that Paolo Vagnone has been appointed to the newly created role of Strategy & Change director. Vagnone will lead the teams responsible for the development of Lloyd’s strategy as...
View ArticleLloyd’s Performance Management Director, Bolt, to Leave Corporation Next Year
Lloyd’s of London announced its director of performance management, Tom Bolt, has decided to leave the corporation in mid-2016, after almost seven years of front line service. Bolt was appointed in...
View ArticleLloyd’s Profit Drops 30% in 2015 on Weak Prices and Lower Investment Income
Lloyd’s of London reported a 30 percent drop of full-year profit as the world’s largest insurance market was hurt by continued pressure on pricing and the lowest investment returns since at least 2001....
View ArticleLloyd’s to Cut 10% of UK Employees on Soft Market Pricing Pressures
Lloyd’s of London is planning to cut 10 percent of its staff in the UK as the world’s oldest insurance market looks to streamline operations and reduce costs amid continued pricing pressure on its...
View ArticleFactbox: Lloyd’s Chief, Other Leaders Offer Views on Britain’s EU Referendum
Prime Minister David Cameron has pledged to renegotiate Britain’s ties with Europe and then give voters a referendum on European Union membership by the end of 2017. Following are the views of business...
View ArticleSJU to Honor Lloyd’s CEO Beale With Insurance Executive of the Year Award
Saint Joseph’s University’s Academy of Risk Management and Insurance in Philadelphia announced today it will present its Insurance Executive of the Year Award to Lloyd’s Chief Executive Officer Inga...
View ArticleUK Insurers Call for Collective Action to Address Climate Change
Lloyd’s of London and other UK insurers called for collective action to address climate change on Thursday, after a report from the UK regulator this week highlighted risks to their industry from...
View ArticleLloyd’s China, Tokio Marine Kiln & PICC Sign Intellectual Property Liability...
Lloyd’s China, Tokio Marine Kiln and People’s Insurance Company of China Property and Casualty Company (PICC P&C) signed a memorandum of understanding (MoU) to provide intellectual property...
View ArticleRe/Insurance CEOs Join Insurance Development Forum, UN & World Bank Initiative
A group of re/insurance and global broking CEOs are assisting the work of the Insurance Development Forum (IDF), which was launched last month to help build resilience to climate risk and natural...
View ArticleFuture of London Market Threatened by ‘Brexit’, Warn Market Leaders
Brexit poses a grave threat to London’s insurance jobs and businesses, according to the International Underwriting Association of London (IUA), Lloyds, and Richard Brindle, group chief executive...
View ArticleFinance Execs Should Slash Their Pay to Win Back Trust in Business: Lloyd’s CEO
Finance executives should consider slashing their own paychecks as the U.K. works to exit the European Union in order to win back the trust of people who have lost faith in large businesses, according...
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