For the first time (re)insurers will be able to model liability exposure probabilistically across their entire portfolios thanks to an innovative new data-driven methodology developed by Lloyd’s, the specialist insurance and reinsurance market, and modelling company Arium.
Bruce Carnegie-Brown is to become the Chairman of Lloyd’s following a meeting of the Council of Lloyd’s where his appointment as successor to John Nelson was approved unanimously. This appointment also had the unanimous support of the Lloyd’s Franchise Board.
Lloyd's, the specialist insurance and reinsurance market, announced plans to open a reinsurance branch in India, in time for the April major reinsurance renewals, following final regulatory (R3) approval from the Insurance Regulatory Development Authority of India (IRDAI).
Lloyd’s announced today that Richard Pryce, CEO for QBE European Operations, has been appointed by the Council of Lloyd’s as a non-executive director of the Franchise Board, the body which is responsible for the day-to-day running of the Lloyd’s market.
A new set of industry standards, POLARIS, provides critical risk mitigation directives and support to underwriters writing marine risk in polar waters when the new Polar Code, a code of practice for ships operating in the Arctic and Antarctic, comes into force on 1 January 2017.