Lloydās pushes Blueprint Two launch to 2028 as market frustration mounts
Lloydās of London will delay its Blueprint Two re-platforming project until at least 2028, with market testing not expected before 2026
š¬š§ UK Insurance News
Lloydās appoints Stephane Flaquet as Chief Operating Officer
Lloydās has appointed Stephane Flaquet as its new chief operating officer, effective Sept. 1, pending regulatory approval. He will also join the executive leadership team
Global P&C insurance market remained stable, with ongoing competition in property lines
The global P&C insurance market remained stable, with ongoing competition in property lines and cautious underwriting in casualty segments
UK specialty insurers report improved regulator performance, survey finds
Specialty insurers and regulated firms in the UK market say financial regulators have made notable progress in performance between 2024 and 2025
PERILS expands severe convective storm loss in Europe, Japan, New Zealand
Reporting will apply to industry losses exceeding ā¬500mn in Europe, Ā„100bn in Japan, and NZ$300mn in New Zealand. The scope includes both property and motor insurance lines
Avatar MGA launches with Lloydās & FCA approval, backed by Santam and Lloydās syndicates
Avatar MGA, a managing general agent specialising in US direct and facultative (D&F) property insurance, has secured approval as a Lloydās coverholder and from the UK
UK plans Captive Insurance Framework by 2027 to strengthen market and support businesses
The United Kingdom government announced it is working on regulations to expand and support the captive insurance sector, aiming to implement the framework by mid-2027
European insurers face heavy losses after summer storms and heat
Western and central European insurers incurred several hundred mn ā¬ in estimated losses after severe convective storms struck on June 30 and again on July 2ā3
FCA tightens rules on misconduct in UK insurance and finance
The UKās FCA announced it is updating rules to improve detection and response to bullying, harassment, violence, and other forms of nonfinancial misconduct at insurance
Ariel Re sponsored 5th catastrophe bond, Titania Re 2025-1, securing $150 mn
Global reinsurer Ariel Re sponsored its 5th catastrophe bond, Titania Re 2025-1, securing $150 mn of multi-peril retrocessional reinsurance protection over four years
UK insurtech COVR raised $2.5 mn in seed funding
COVR Global, a London-based insurtech startup, has raised $2.5 mn in seed funding to advance the development of its AI-powered claims decision engine
Clearspeed raised $60 mn in Series D to expand its AI-driven voice analytics
Insurtech Clearspeed has raised $60 mn in Series D funding to expand its AI-driven voice analytics technology for risk assessment across the insurance and national security sectors
UK High Court ruling in favour of aircraft lessors raises major risks for re/insurers
The High Court of Justice in London recently ruled in favour of aircraft lessors for the 2021 and 2022 underwriting years
Allianz UK to cut 650 jobs amid digital shift
Allianz UK will reduce its workforce by 650 positions across its operations in the United Kingdom as it adjusts to increased demand for digital services
U.K. Court awards AerCap $1 bn in aircraft insurance dispute over Russia losses
AerCap announced that a U.K. Court ruling has confirmed its entitlement to approximately $1 bn in insurance recoveries tied to aircraft and engines stranded in Russia
UK insurance leaders call for industry-wide adoption of single data standard
A group of executives from U.K. insurance firms, trade bodies, and standard-setting organizations published an open letter urging the insurance industry and related sectors to adopt a single data standard
Swiss Re reported a net income of $1.3 bn and ROE of 22.4% for Q1 2025
Swiss Re reported a net income of USD1.3billion and a return on equity (ROE) of 22.4% for the first quarter of 2025
Markel acquires Marine MGA Meco Group, expanding global marine capabilities
Markel, the insurance division of Markel Group, has agreed to acquire Meco Group, a specialist marine managing general agent
Global insured losses could exceed $300 bn in a peak year – Swiss Re
Swiss Re warned that insured losses could exceed $300bn in a peak year, underscoring the essential role of the reinsurance sector, which holds $500bn in capital
Sapiens acquires AdvantageGo for Ā£43 mn to expand global P&C platform in the UK
Sapiens International Corporation, a global software provider for the insurance industry, has signed a definitive agreement to acquire AdvantageGo
Aegis, a Lloydās underwriter, offers terrorism coverage for U.S. businesses
Aegis, a Lloyd’s underwriter, announced it has increased the capacity of its Shield terrorism risk program to $500 mn from $250 mn
PERILS released the Industry Exposure Database 2025
PERILS, the company providing industry-wide catastrophe insurance data, has released the PERILS Industry Exposure Database 2025
UK non-life insurance sector maintains stable outlook – AM Best
AM Best has reaffirmed a stable near-term outlook for the United Kingdomās non-life insurance sector
Willis expanded CyXS Plus and CyXS Co cyber facility
Willis expanded its CyXS cyber facility, now offering $115mn of capacity through Lloyd’s syndicates and up to $40mn from insurers outside Lloyd’s
Insurtech Peak3 accelerates expansion in the UK & Europe after $35 mn Series A
Insurtech Peak3 is pushing forward with its expansion in the UK and Europe after raising $35 mn in a Series A funding round
Insurtech Kennedys IQ launches neuro-symbolic AI solution for insurance market
Insurtech Kennedys IQ, the technology division of Kennedys Law, launched Kennedys IQ SmartRisk, the first fully explainable neuro-symbolic AI risk analysis solution
Lloyd’s underwriter Chaucer announced “Smart” consortium
Lloyd’s underwriter Chaucer Group announced an international direct and facultative property “Smart” consortium using InsurX’s exchange technology
Lloydās Syndicate 1699 increased loss to Ā£950 mn after exiting D&O business
Lloydās Syndicate 1699 reported a larger loss in 2024 after exiting directors and officers (D&O) and transactional liability business due to market softening
Lloydās reported a 6.5% increase in premiums written, raising to Ā£55.5bn
Lloydās of London announces its full year 2024 financial result. 2024 saw the continuation of positive returns, with profit before tax of Ā£9.6bn
IK Partners acquires stake in Seventeen Group to expand UK insurance presence
Private equity firm IK Partners announced that one of its funds will acquire a minority stake in Seventeen Group, a London-based company
Swiss Re published its Annual Report and Sustainability Report
Swiss Re published its Annual Report 2024, Sustainability Report 2024 and the invitation for the upcoming Annual General Meeting of shareholders
EU Insurance markets could benefit from public-private reinsurance for climate risks
EU insurance markets could gain from a proposed public-private reinsurance scheme for climate-related losses
Trump`s “tariffs” could increase P&C insurance claims by $10 bn to $36 bn
Tariffs imposed by the Trump administration could increase claims costs for property and casualty insurance by $10 bn to $36 bn
Convex Group, a specialty re/insurer, launched Lloydās Syndicate 1984
Convex Group, an international specialty insurer and reinsurer, has received in-principle approval to launch Lloydās Syndicate 1984
Lloydās with Accenture & mea Platform launched a Summary of Coverage service
Lloydās, partnered with Accenture and mea Platform, has launched a local āSummary of Coverageā service, available for free to all managing agents
Lloyd’s underwriter Aegis London launched a portfolio solutions division
Lloyd’s underwriter Aegis London has launched a portfolio solutions division to follow third-party underwriting expertise within the London market
Lloydās appoints Alexander Baugh as new Council Member
Lloydās announced changes to its Council, appointing Alexander Baugh as an independent nominated member, subject to regulatory approval
Africa Specialty Risks launched Africa Specialty Risks Mauritius as a Lloydās company
Africa Specialty Risks (ASR), a prominent (re)insurance group targeting Africa and the Middle East, has launched Africa Specialty Risks Mauritius as a Lloydās service company
UK Supreme Court rejects Allianz appeal in COVID business interruption case
The UK Supreme Court has denied Allianz Insurance plcās appeal in a COVID-19 business interruption lawsuit filed by the London International Exhibition Centre, also known as ExCel
Lloydās CEO John Neal will step down in 2025 to join Aon
Lloydās has confirmed that CEO John Neal will step down in 2025 after more than six years leading the worldās largest insurance and reinsurance marketplace
British pension insurance deals totaled Ā£45 bn in 2024, with a similar outlook for 2025
British pension insurance deals totaled approximately Ā£45 bn in 2024, with a similar outlook for 2025, according to LCP. The adviser expects buy-in volumes to remain strong
MGA Optio Group acquired of Den Hartigh Beheer & Exploitatie B.V.
The UK-based managing general agent (MGA) Optio Group has finalized its acquisition of Den Hartigh Beheer & Exploitatie B.V.
K2 International opens Lloydās of London Box, showcasing key underwriting divisions
K2 Group Holdings Limited (K2 International), a division of K2 Insurance Services, has officially opened its box at Lloydās of London. The move strengthens its presence
Lloydās considers outsourcing key IT and operational functions
Lloydās of London has confirmed it is considering outsourcing certain information technology services and operational functions
Changes to UK Solvency rules will have a positive impact on UK insurers
AM Best reports that upcoming changes to the UKās solvency regulations, expected to be finalized in November, are likely to positively impact UK insurers
PERILS released final insurance loss estimate for Windstorm CiarĆ”n (Emir) of ā¬2.07 bn
PERILS, a provider of catastrophe insurance data, has released its final industry loss estimate for Windstorm CiarƔn (Emir). This storm affected France, the UK, Belgium, and the Netherlands
Lloyd’s of London introduces a Global Disaster Resilience Vehicle
Lloyd’s of London has partnered with the United Nations Capital Development Fund (UNCDF) to introduce a new disaster resilience vehicle
Insurers estimate losses from Greece wildfires and European storms
Aon reports that wildfires in Greece and severe convective storms across Europe could result in hundreds of millions of dollars in losses. Beginning August 12, storms in Switzerland and Austria brought heavy rain
AM Best estimates the property catastrophe bond market ~$45 bn by mid-2024
AM Best estimates the property catastrophe bond market reached approximately $45 bn by mid-2024, marking a $3 bn increase
Global insured losses from natural catastrophes to reach $60 bn in H1 2024
Frequent small to medium events caused global insured losses from natural catastrophes to reach $60 bn in the first half of 2024, according to Swiss Re
Climate & Digitalisation are challenging traditional insurance products
Developments such as climate change and digitalisation are changing risk pools and can challenge the viability of traditional insurance products
Climate Change Boosts Extreme Weather: Time for Insurance to Adapt
Climate change is making severe weather more common worldwide, which greatly affects the electric grid. Insurance funding is crucial for adaptation
Global reinsurer capital in Q1 2024 increased for $695 bn
Aon reports a 4% increase in global reinsurer capital during the first quarter of 2024, reaching a new high of $695 billion
Severe storms & flooding impacted for insured losses in Central Europe
Severe storms and flooding have impacted Central Europe, leading to economic and insured losses in the hundreds of millions of euros
Lloydās will open a new office in Miami to enhance business in LatAm
Lloydās, a leading global insurance and reinsurance marketplace, will open a new office in Miami to enhance its business in Latin America and the Caribbean
High Court: $10 bn insurance aircraft payouts should be heard in London
Londonās High Court has decided that the $10 bn battle between reinsurers and a host of aircraft leasing companies seeking payouts for more than 200 jets stuck
M&A in UK insurance industry rose, in contrast to a EU slowdown
M&A in the UK insurance industry rose in 2023, in contrast to a wider slowdown in deal activity across Europe, the Middle East and Africa
UK Financial Conduct Authority commited to intensify efforts against crypto market
Financial Conduct Authority of the United Kingdom has outlined its commitment to intensify efforts against crypto market abuse within the cryptocurrency
PERILS updated insurance loss for Windstorm CiarƔn (Emir) in Europe
PERILS has updated its insurance loss estimate for Windstorm CiarƔn (also known as Emir) that impacted parts of Europe on 1-2 November 2023
Aviva will receive an additional Ā£80 mn from sale of Singapore Life
Aviva plc has announced expectations to receive an additional Ā£80 million (approximately SGD 0.1 billion) from the sale of its shares in Singapore Life Holdings Pte Ltd (Singlife)
UK M&A deal value reached Ā£134.7 bn in H1 2026, up 125%, while volumes fell 12.6%. PwC reports growing investment concentration in financial services, AI and healthcare
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities
Insurance brokers push debt-financed acquisitions amid slowing growth, Fitch warns credit risks rise but strong cash flow keeps leverage tolerable