Lloyd’s of London on edge of ‘long-term’ deal to stay in HQ until 2041 November 15, 2023 Lloyd's of London is edging on a deal to remain in its One Lime Street headquarters for 10 years longer than its original lease agreement.
Lloyd’s of London SPAC venture scrapped due to volatile markets November 13, 2023 Financials Acquisition Corp said on Monday it would enter liquidation as it scraps a planned merger with its newly formed insurance venture, citing "insufficient" cash commitments due to volatile capital markets.
Insurance SPAC boss: London loves a bad headline – but we’re the best in the world November 2, 2023 London loves a “bad headline” and should instead embrace its role as the “global centre” of insurance expertise, the boss of a listed acquisition vehicle has claimed, as he prepares to debut a new insurance firm on the public markets this month.
Banks face tougher competition as profits boost from higher rates fades October 30, 2023 The UK’s major listed banks have warned that the tailwind from high interest rates that has driven bumper profits over the past year is coming to an end as lenders compete to offer better deals to customers. Barclays, Lloyds, NatWest, Standard Chartered and Santander reported third-quarter earnings last week, while HSBC released its results today. [...]
Howden seals £500m support to turn tech start-ups into underwriters October 16, 2023 Howden has secured £500m of delegated underwriting capacity backed by a group of Lloyd's of London firms for a newly launched division that aims to turn tech start ups into underwriters.
Lloyd’s of London estimates global economy could lose £4 trillion to extreme weather October 11, 2023 Lloyd’s of London has estimated that global economic losses could reach £4 trillion under a “plausible increase” in extreme weather events linked to climate change that cause crop failures and food and water shortages. The research, conducted in collaboration with the Cambridge Centre for Risk Studies, said social and economic changes are affecting the impact [...]
The City sees the Tories as a ‘bigger risk to business’, says Reynolds October 8, 2023 The Conservative Party is seen by many people in the City “as the bigger risk to the business community”, Labour’s Jonathan Reynolds told City A.M.
London insurers provide cover for ‘critical’ oil recovery operation on stranded Yemen tanker June 13, 2023 LONDON’s insurance market can add a new feather to its cap – after coming together to facilitate a high-risk operation to prevent a stranded ship causing a potentially catastrophic oil spill. Insurance giant Howden was appointed by the UN’s Development Programme to arrange cover for a procedure that will see more than a million barrels-worth [...]
Lloyd’s of London targeted by eco activists with smoke flares and setting off fire alarms May 25, 2023 Smoke engulfed the entrance to insurance hub Lloyd’s of London today as eco protestors set off fire alarms to disrupt activity over of its alleged links to the fossil fuel industry.
Bank of America at odds with Lloyd’s over state-backed cyberattack exemption April 20, 2023 Bank of America has reportedly raised concerns with Lloyd’s of London about a move to exempt “state-backed” cyberattacks from standard insurance policies. Bank of America highlighted its concerns with the policy in a series of meetings between Lloyd’s and its biggest clients, the Financial Times reported. Marsh, the world’s biggest broker, is also understood to [...]