Insurance Jottings

Lloyd’s may only write German reinsurance business via Brussels from October

Managing agencies will only be able to provide reinsurance to German cedants via the Lloyd’s Brussels platform from the end of October unless the UK secures Solvency II equivalence before then, the Corporation has warned.

Miller forms new London focussed GL energy facility

Miller’s energy team has formed a new London Market general liability (GL) facility in response to a curtailing of capacity in the sector and the withdrawal of certain key players such as Liberty Europe and Aspen, creating a “hole” for much needed primary and excess capacity.

Lloyd’s delays Brussels Part VII scheme transfer to end of year

Lloyd’s has pushed back the effective date of the Part VII scheme of its existing European business to its Brussels platform to the end of the year.

Originally scheduled for 29 October, the transfer has now been moved back to 30 December 2020.

The decision was made following discussions with managing agents as well as a wider market consultation.