Some news from Lloyd’s of London FYI;
Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has announced that its London Bridge risk transformation platform reached a capital deployment milestone of $1.92bn at the end of 2024. London Bridge has now established 19 cells, through which $1.92bn of capital has been deployed, and $2.55bn committed from institutional investors.
Eight Lloyd’s managing agents are now actively utilising the London Bridge platform, with 10 new institutional investors supporting risks underwritten in the Lloyd’s market.
London Bridge provides an access point for qualifying institutional investors, to deploy funds in a tax transparent way into the Lloyd’s market. Lloyd’s members and managing agents can use the vehicle to manage their capital and risk management requirements by attracting new sources of capital and reinsurance protection.
Working closely with the PRA and FCA, Lloyd’s has developed a set of mandatory terms for the principal transaction documentation that provide greater commercial flexibility whilst maintaining regulatory compliance. This is embodied in a Scope of Permissions for London Bridge 2 PCC Limited that enables new cells to be set up and reinsurance written without the need for any additional regulatory approval, providing these permissions are satisfied.
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