Trump demands US-backed insurance as firms suspend cover in Persian Gulf March 4, 2026 Donald Trump calls for a US-backed insurance following news that most of the world’s largest maritime insurance firms are set to cease covering war risks for ships entering the Persian Gulf. On 5 March, various members of the London-based International Group of Protection and Indemnity Clubs will automatically terminate war-risk cover if vessels enter the [...]
Zurich to leverage Beazley’s Lloyd’s platform for global expansion March 2, 2026 Zurich Insurance Group has reached a formal agreement to acquire FTSE 100 giant Beazley, aiming to create a global leader in speciality insurance. Under the terms of the deal, Beazley shareholders will be entitled to receive a total of 1,335p per Beazley share, which puts the cost of the deal at around $10.9bn (£8.14bn). The [...]
Global trade at risk as insurers suspend cover following Iran conflict March 2, 2026 More than half of the world’s largest maritime insurance firms are set to cease covering war risks for ships entering the Persian Gulf after conflict broke out in the Gulf region, following the US and Israel’s launch of strikes on Iran on Saturday. As of Thursday, seven members of the City-based International Group of Protection [...]
Modernisation and missteps: Lloyd’s of London struggles for a new era February 19, 2026 Lloyd’s of London, one of the world’s largest (re)insurance markets, has faced its fair share of battles in recent years, and one of the biggest fights has been against itself and its old-fashioned ways. Back in 2018, the incoming chief executive, John Neal, had an ambitious mandate: to restore stability and modernise Lloyd’s following a period [...]
Winter Olympics 2026: How insurance keeps Milano Cortina on track February 17, 2026 Every four years, the world’s greatest athletes fight to take gold, but it’s the unseen safety nets, drafted by insurers, that keep the Winter Olympics running smoothly. German-based Allianz became the exclusive insurance partner of the International Olympic Committee (IOC) in 2021, with coverage until the 2032 summer games in Brisbane, under the oversight of [...]
Exclusive: Lloyd’s of London quietly shelves Blueprint Two to rethink strategy February 6, 2026 After years of delays, Lloyd’s of London’s ambitious strategy to digitalise the marketplace has been shelved, as new management under Patrick Tiernan seeks to rethink the approach. Blueprint Two, launched seven years ago, was a programme pitched as delivering a “profound” change in the London specialist and reinsurance market through digitalisation. Lloyd’s, together with the [...]
Ageing workforce puts London’s specialty insurance sector at risk February 5, 2026 London’s specialty (re)insurance market employs around 61,000 people, but despite this, the sector is facing a ‘critical’ talent shortage. According to data from the trade body, the London Market Group (LMG), that headcount is up 3 per cent since 2022, but the sector is expected to require around 82,200 by the end of 2034. The [...]
Zurich to acquire Beazley in landmark £8bn specialty insurance merger February 4, 2026 Following two previous rejections last month, Lloyd’s of London underwriter Beazley has confirmed in a joint statement on Wednesday morning that it has reached an agreement in principle with Zurich. The offer proposed by Zurich has a total value of 1,335 pence per share. This is composed of a 1,310p cash payment from Zurich and [...]
Zurich makes £7.7bn play for Beazley after FTSE 100 firm rejected first offer January 19, 2026 Zurich Insurance Group has launched its second public pursuit of Lloyd’s of London prominent underwriter Beazley with a revised proposal at 1.280 pence per share, valuing the firm at just under £8bn. At the start of the month, Zurich privately submitted a proposal to the Beazley board to acquire 100 per cent of the company [...]
Insurance giants are no longer afraid to sue competitors over ‘team poaching’ January 15, 2026 London’s insurance sector is becoming increasingly litigious as the battle for niche talent intensifies, after a wave of High Court cases suggests ‘team poaching’ has become a legal flashpoint. If, like me, you are glued to the court filing system, you’ll have seen a noticeable uptick in lawsuits over restrictive covenants going to London’s High [...]