Tag: Lloyds

March 5, 2024

Lloyd’s of London has hit a short-term target of filling 35% of leadership roles with women, although less than half of firms in the commercial insurance market had hit the mark, it said on Tuesday. Lloyd’s said it needed to […]

January 29, 2024

The structural overhaul comes amid the group’s claims that more than 21 million of its customers prefer to bank via online or mobile channels, with just 8% exclusively opting for branch-based banking. As a result of this growing preference for […]

December 19, 2023

One of the world’s most-influential insurance markets added Guyana to its list of the riskiest shipping zones amid an escalating territorial dispute with neighboring Venezuela. The decision announced by Lloyd’s Market Association’s Joint War Committee on Monday applies only to […]

September 7, 2023

Growing fears about the state of the world are pushing more people to take out insurance even as prices rise, Lloyd’s of London Chief Executive Officer John Neal said. Rising inflation, recession worries, climate threats and geopolitical tensions are making […]

June 21, 2023

Aon, Lloyd’s and Vienna Insurance Group (VIG) announced they are collaborating to provide foreign re/insurance capacity to support Ukraine’s recovery and reconstruction. As part of the UK-Ukraine Private Finance Partnership, Lloyd’s and Aon have committed to deliver fast-track access to […]

March 18, 2022

Aircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims. Lessors of planes stuck in Russia since the onset of sanctions have warned insurers of possible claims […]

July 30, 2021

Lloyds says Embark will improve its ability to address the mass market and self-directed wealth sector. The bank is also hoping to replatform its pensions and retirement services, and says it wants to create a “market leading” platform for intermediaries. […]

November 19, 2020

Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday. Carnegie-Brown told the Reuters Events Future of Insurance USA conference that […]

September 8, 2020

‘Bundling’ is where a bank requires small business customers to open a business current account (BCA) with them when applying for a loan. This restricts competition and limits choice because customers may want to hold an account with one provider […]

August 25, 2020

Lloyd’s of London does not have to pay the U.S. government’s Federal Deposit Insurance Corp. $3 million in judgment interest because the FDIC waited too long —18 months after a final judgment — to try to collect it. The action […]

July 23, 2020

The UK bank is acquiring an undisclosed minority equity stake in Form3 as part of the fintech’s next investment round, which is expected to complete in August. The new technology partner joins Lloyds’ current partners Google Cloud and Microsoft. New […]

April 1, 2020

Some of the U.K.’s biggest lenders have agreed to scrap billions of pounds of payments to shareholders following pressure from the Bank of England (BOE). Barclays, Santander, Lloyds, NatWest, Standard Chartered and HSBC confirmed late on Tuesday that they will […]

March 10, 2020

The deal is part of Lloyds’ three-year £3 billion investment in IT transformation, a project it kicked off in February 2018. Google Cloud is deploying a range of services to “help streamline and improve the customer experience” over a five-year […]

March 2, 2020

Lloyd’s has launched a insurance policy to protect cryptocurrency held in online wallets against theft or other malicious hacks. The first of its kind liability policy, with flexible limits from as little as £1,000 (US$1,281), was created by Lloyd’s syndicate […]

January 30, 2020

Between April and October 2020, 31 Lloyds branches will be shut, as well as 10 of the group’s Halifax branches and 15 of the group’s Bank of Scotland branches. It is understood that Lloyds group has closed a around 655 […]

January 3, 2020

Customers took to social media apps from around 4am on New Year’s Day to rail against the outage, particularly because many direct debits are due on Thursday. One customer complained that Lloyds was “taking the ‘bank holiday’ a little too […]

November 8, 2019

Re/insurance market Lloyd’s announced its decision to merge the Council of Lloyd’s and the Franchise Board, effective from June 1, 2020, after receiving widespread support from across the market. The news follows five months of consultation across the Lloyd’s market, […]

July 12, 2019

The utilisation of the platform is expected to support Lloyds’ fight against fraud while providing seamless customer experience. Zia Hayat, CEO and founder of Callsign, says: “We have already built a brilliant foundation with Lloyds Banking Group and I am […]

May 9, 2019

Layr, which is based in Atlanta, Georgia, participated in the first cohort of the Lloyd’s Lab and used the opportunity to test their cloud-based solution for providing faster access for small businesses looking to purchase liability insurance. The InsurTech company […]

November 7, 2018

Set up by a gaggle of former Google engineers, Thought Machine has spent the last few years trying to solve one of the biggest problems in banking: how to replace the decades old legacy core systems which hamper the delivery […]