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Lloyd's of London is an insurance and reinsurance market in the UK, founded in 1689 by Edward Lloyd. It operates as a partially-mutualised marketplace of syndicates, underwriters and brokers, and has a history of marine insurance and slave trade involvement.
Equitas was formed in 1995 to reinsure and run off the long-tail liabilities of Lloyd's syndicates on insurance policies written before 1993. It has transferred most of its liabilities to a new company and has $4.37bn of reinsurance cover from National Indemnity.
Learn about the history, types and coverage of aviation insurance, which provides protection for aircraft owners and operators against losses and liabilities. Find out how aviation insurance differs from other forms of transportation insurance and what factors affect its cost and availability.
Learn about the origins and development of insurance against risks, especially regarding cargo, property, death, automobile accidents, and medical treatment. The article covers ancient, medieval, early modern, and modern periods of insurance history with references and sources.
In 1878, at the age of 18, Heath became a clerk at Henry Head & Co., a firm of brokers and underwriters at Lloyd's of London. [12] [1] [13] [5] In 1880, at the age of 21, he was elected an underwriting member of Lloyd's, [1] [12] [14] with the backing of a £7,000 deposit provided by his father, [13] [5] [15] [4] and he began underwriting for himself two years later, in 1882.
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.
Beazley plc is a British insurance company that operates in Europe, North America and Asia. It offers various types of insurance and reinsurance products, such as cyber, marine, property, professional and political risks.
Inga Beale is a British businesswoman and the former CEO of Lloyd's of London. She is also the president of The British-Swiss Chamber of Commerce, the chair of the HIV Commission, and a Dame Commander of the Order of the British Empire.