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Website. www.lloyds.com. Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, United Kingdom. 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.
Equitas. Equitas is a group of companies that was formed in 1995 to assume by way of reinsurance the vast and crippling liabilities that had accumulated in the syndicates at Lloyd's of London on insurance policies written on the 1992 and all prior years of account. These liabilities were reinsured by Equitas Reinsurance Limited (ERL), which was ...
Aviation Insurance was first introduced in the early years of the 20th century. The first-ever aviation insurance policy was written by Lloyd's of London in 1911. The company stopped writing aviation policies in 1912 after bad weather at an air meet caused crashes, and ultimately losses, on those first policies.
By the end of the seventeenth century, London's growing importance as a center for trade was increasing demand for marine insurance. In the late 1680s, Edward Lloyd opened a coffee house on Tower Street in London. This was during a boom of several hundred coffee house gathering places in London, many catering to certain social groupings of ...
The liability of an investor (known as a "name") is unlimited - names share the profits but are also exposed to unlimited liability in the event of losses. In the present case, hurricanes in United States had led to unprecedented losses for insurers. After the hurricanes, Lloyd's called upon the investors to cover their share of these losses.
Net income. $ 1,026.8 million (2023) [1] Website. beazley.com. Beazley plc is the British parent company of specialist insurance businesses with operations in Europe, North America and Asia. The company is based in London, England, and is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Inga Beale. Dame Inga Kristine Beale, DBE (born 15 May 1963 [1]) is a British businesswoman and the former CEO of Lloyd's of London. In June 2018, it was announced that she would be stepping down as CEO of Lloyd's after leading the global insurance and reinsurance market for five years, embedding modernisation and cultural change during her ...
Reinsurance to close (RITC) is a business transaction whereby the estimated future liabilities of an insurance company are reinsured into another, in order that the profitability of the former can be finally determined. It is most closely associated with the Lloyd's of London insurance market that comprises numerous competing "syndicates", and ...