Lloyd's Archives - Page 3 of 6 - Insurance & Reinsurance

UK: New Regulations Relating to Calculation of General Insurance Technical Provisions for Tax Purposes

Jul 28, 2009 | Lloyd's, Regulatory, Tax Related Developments | United Kingdom

The UK’s tax authority, Her Majesty’s Revenue and Customs (HMRC), has introduced new regulations relating to technical provisions made by general insurers, including members underwriting general insurance business at Lloyd’s.

UK: Equitas Part VII Transfer Approved by High Court

Jul 1, 2009 | Insolvency, Restructuring and Run-Off, Lloyd's, Regulatory, Reinsurance | United Kingdom

On 25 June 2009, the High Court approved the statutory transfer of the 1992 and prior non-life business of members and former members of Lloyd’s to Equitas Insurance Limited by way of Part VII transfer under the Financial Services and Markets Act 2000 (FSMA).

Lloyd’s Issues Warning About Threat of Social and Political Instability Due to Global Recession, Identifies Expropriation and Piracy as Key Issues in Latin America

Jun 12, 2009 | Latin American Developments, Lloyd's

The Lloyd’s 360 Risk Insight group recently released a report entitled “Global recession: The magnifying glass for political instability.” In the report, Lloyd’s warns that the ongoing global recession is likely to cause greater social and political instability around the globe. As to Latin America, the report identifies the greatest threats to social and political stability as expropriation and piracy.

UK: Regulation: Notice of Censure Published by Lloyd’s Enforcement Board in Relation to Ark Syndicate Management (ASM) Employees

Jun 4, 2009 | Lloyd's, Regulatory | United Kingdom

A recent Lloyd’s Market Bulletin ref: Y4280 (14 May 2009) gives details of three individuals who, when changing employment to a competitor, committed various breaches of their obligations to their previous employer. Alistair Mark Mellis and Ksenya Mazalova were involved in the appropriation of documents from their previous employer for use in their new employment. Mr Mellis, who had not yet moved to his new employer, also provided underwriting assistance to Ms Mazalova.

UK: Lloyd’s Announces Capacity Market Rules for 2009

May 20, 2009 | Lloyd's | United Kingdom

Lloyd’s has finalised the rules and guidance for the 2009 capacity transfer season. Capacity transfers enable members to surrender or acquire the right to underwrite a specific amount of premium on Lloyd’s syndicates. The rules and guidance contains the Auction Rules, the Bilateral Arrangements Rules, the Conversion Rules, the Capacity Offer Rules and the explanatory guide to the Capacity Auctions and Bilateral Arrangements. No substantive amendments have been made to the 2008 rules and guidance.

Double Boost for Lloyd’s Insurers in 2009 UK Budget

May 5, 2009 | Lloyd's | United Kingdom

Lloyd’s insurers are set for a boost as the UK Treasury announced measures which will bring their tax treatment more into line with that of general insurance companies.

Lloyd’s Publishes Mid-Year Coming-Into-Line Arrangements

Mar 30, 2009 | Lloyd's | United Kingdom

Lloyd’s has issued a market bulletin giving details of the arrangements relating to mid-year coming-into-line (click here to see a copy). The bulletin is addressed both to members’ agents and to direct corporate members.

UK: Lloyd’s Announces Appointment of New Underwriting Performance Director

Mar 27, 2009 | Lloyd's | United Kingdom

Lloyd’s has announced the appointment of Tom Bolt as its new Underwriting Performance Director, replacing Rolf Tolle who steps down as Franchise Performance Director at the end of the year. Although the title changes, we understand the role is largely the same.

UK: Changes Announced to Lloyd’s American Trust Fund (LATF)

Mar 17, 2009 | Lloyd's, Regulatory | United Kingdom

In a market bulletin published on 5 March 2009, Lloyd’s announced new arrangements for the reporting, funding and settlement of LATF liabilities (excluding long term business). The bulletin states that these changes will take effect at the end of Q1 2009.

UK: Lloyd’s Legislative Reform Order: Amendments to Lloyd’s Byelaws

Jan 16, 2009 | Lloyd's | United Kingdom

We have reported previously on the progress of the Lloyd’s Legislative Reform Order (LRO) through the UK Parliament and on the consultation by Lloyd’s in relation to the proposed amendments to the Lloyd’s Byelaws (you can see our most recent post by clicking here).

Topic: Lloyd's

UK: Equitas Part VII Transfer Approved by High Court

Lloyd’s Issues Warning About Threat of Social and Political Instability Due to Global Recession, Identifies Expropriation and Piracy as Key Issues in Latin America

UK: Regulation: Notice of Censure Published by Lloyd’s Enforcement Board in Relation to Ark Syndicate Management (ASM) Employees

UK: Lloyd’s Announces Capacity Market Rules for 2009

Double Boost for Lloyd’s Insurers in 2009 UK Budget

Lloyd’s Publishes Mid-Year Coming-Into-Line Arrangements

UK: Lloyd’s Announces Appointment of New Underwriting Performance Director

UK: Changes Announced to Lloyd’s American Trust Fund (LATF)

UK: Lloyd’s Legislative Reform Order: Amendments to Lloyd’s Byelaws

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