Lloyd’s has announced that its London Bridge risk transformation platform achieved a capital deployment milestone of US$1.92 billion by the end of 2024.
The platform has also secured US$2.55 billion in committed capital from institutional investors.
The London Bridge platform has facilitated the creation of 19 cells, enabling eight Lloyd’s managing agents to access capital and risk transfer capacity. Ten new institutional investors are now participating in underwriting risks within the Lloyd’s market through the platform.
The London Bridge platform offers qualifying institutional investors a tax-transparent mechanism to deploy capital into the Lloyd’s market. Lloyd’s members and managing agents use the platform to meet their capital and risk management needs by attracting new sources of capital and reinsurance protection.
Lloyd’s worked closely with the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to establish mandatory terms for transaction documentation. These terms provide greater commercial flexibility while maintaining regulatory compliance.
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The Scope of Permissions for London Bridge 2 PCC Limited allows new cells to be established and reinsurance to be written without additional regulatory approvals, provided these permissions are met.
Burkhard Keese (pictured above), Lloyd’s chief financial officer, emphasised the platform’s role in advancing Lloyd’s strategy to attract institutional investors. He highlighted its success as a significant source of capital and risk transfer capacity for the Lloyd’s market.
“Making the Lloyd’s market more attractive and accessible to institutional investors continues to be a strategic priority for Lloyd’s. We are delighted with the success of the London Bridge platform, which has now become a meaningful source of capital and risk transfer capacity for the Lloyd’s market,” Keese said.
He added that London Bridge has established itself as one of the most flexible and responsive platforms in the insurance-linked securities (ILS) market. He affirmed Lloyd’s and the UK market’s position as valuable entry points for institutional investors seeking access to global reinsurance and insurance risk.
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