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Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, England. Unlike most of its competitors in the industry, it is not an insurance company; rather, Lloyd's is a corporate body governed by the Lloyd's Act 1871 and subsequent Acts of Parliament .
Argo Insurance’s excess casualty, property and professional lines provide access to non-Lloyd’s intermediaries outside the U.S. [33] In February 2023, Argo Group completed the sale of Argo Underwriting Agency Limited and its Lloyd’s Syndicate 1200 (ArgoGlobal) to Westfield for total cash proceeds of approximately $125 million.
The IUA was formed in January 1998 from the merger of the London International Insurance and Reinsurance Market Association (LIRMA) and the Institute of London Underwriters (ILU). [3] The main stated reason for the merger was the desire to give the London company market a single voice in dealings with government, regulators and other insurance ...
The Lloyd's building (centre), with Tower 42 in the top-left. The Lloyd's Agency Network was established in August 1811 by the then Committee of Lloyd's of London.They resolved that it is highly important to the interests of Underwriters, that a regular and universal system of intelligence and superintendence should be established in all the Principal Ports and Places, both at home and abroad ...
A surplus lines broker seeking to procure or place nonadmitted insurance in a state for an exempt commercial purchaser ("ECP") is not required to satisfy any state requirement to a make a due diligence search to determine whether the full amount or type of insurance sought by the ECP may be obtained from admitted insurers if: (1) the broker ...
In 1980, the company became an insurance carrier when Essex Insurance Company was incorporated and licensed to write excess and surplus lines business. [5] In 1986, the Markel Corporation was listed on the NASDAQ exchange, with an IPO offered at $8.33 per share. The company's trading was moved to the NYSE in 1997. [6]
[42] [43] [44] First Mercury will become the excess and surplus lines platform for Crum & Forster. The Pacific Insurance Berhad, Pacific Insurance is headquartered in Kuala Lumpur, Malaysia. On December 3, 2010, Fairfax announced to acquire Malaysian insurer, The Pacific Insurance Berhad , for approximately US$64 million.
Q&A: Richard Ward: Passing the Lloyd's Baton, Post Online, October 2013; Dr Ward: Insurers face backlash over bank scandals, the Insurance Times, September 2013; Lloyd's of London CEO Ward sets out moves away from risk amid euro fears The Daily Telegraph May 2012; Arctic Oil Rush Will Ruin Ecosystem, Warns Lloyd's of London The Guardian April 2012