Company Overview of Society of Lloyd's
The Society of Lloyd's provides specialty insurance and reinsurance products worldwide. It facilitates the carrying on of insurance business by its members, who join together as syndicates to insure and reinsure risks, and the protection of their interests. The company offers various property insurance products, such as non-standard commercial and residential, terrorism, power generation, engineering, and nuclear risks products; casualty insurance products, including general liability, professional liability, medical malpractice, and accident and health lines; and marine insurance products comprising hull, cargo, marine liability, specie, political, and war insurance products. It also provid...
One Lime Street
London, EC3M 7HA
Founded in 1688
Key Executives for Society of Lloyd's
Chief Executive Officer, Member of Franchise Board, Member of the Council and Chairman of Risk Committee
Director of Finance and Member of Franchise Board
President of North American Operations
Chief Risk Officer, General Counsel, Member of Franchise Board and Member of Risk Committee
Compensation as of Fiscal Year 2015.
Society of Lloyd's Key Developments
Lloyds Loses Court Case over £3.3 Billion in Bonds
Jun 4 15
Lloyds has lost a court ruling, preventing it from redeeming as much as £3.3 billion (EUR 4.5 billion) of contingent capital bonds. Lloyds, which had to be rescued by taxpayers in 2009, argued that the terms of the bonds allowed for the so-called enhanced capital notes to be redeemed at face value since they no longer qualified as regulatory capital. The lender's plan to repay the securities before maturity was opposed by Bank of New York Mellon on behalf of investors, who will continue to receive interest payments averaging about 10% a year. Lloyds was given permission to appeal. While the notes were disallowed as capital in last year's round of stress testing, they may be counted in future tests, Lloyds said in a statement. That meant the disqualification hadn't occurred.
Lloyds Makes Two New Senior Appointments in its Commercial Real Estate Lending Team
Apr 20 15
Lloyds has a made two new senior appointment in its commercial real estate lending team. Klaus Betz-Vais has been appointed as director in the institutional clients team and Brian Darling has been appointed to head up the commercial real estate division's network of regionally-based relationship teams. Betz-Vais has joined from Helaba where he was a director in the origination team and during his career in real estate finance he has previously worked for Saint Paul's Asset Management, Wachovia, Eurohypo and Hypo Real Estate. In the newly created position at Lloyds, he will support Lloyds Bank's work with major institutions such as financial sponsors, sovereign wealth funds and other money managers that are active in real estate. The other new joiner, Brian Darling, will oversee the bank's funding activity for property transactions with a value from £10 million and above from its offices in Edinburgh, Leeds, Manchester and Birmingham. His team will provide a regional presence for each of the divisions though it is expected to be most active within the private real estate corporates unit, which looks after a range of UK real estate businesses and entrepreneurs and is led by Marty Green. Prior to joining Lloyds Bank, Darling was head of property finance at Nationwide and his career in banking began more than 30 years ago at Barclays.
Society of Lloyd's Announces Earnings Results for the Year 2014
Mar 26 15
Society of Lloyd's announced earnings results for the year 2014. For the year, the company announced pretax profit of £3.2 billion compared to £3.2 billion a year ago. The 2014 profit was driven by a relatively benign year for major natural catastrophes, favorable prior year development, and an improved investment return. Gross written premiums were £25.3 billion compared to £25.6 billion a year ago. Return on capital was 14.7% compared to 16.2% a year ago.
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