Lloyd’s London Bridge risk transformation platform has reached US$1.92 billion of deployed capital by the end of 2024, attracting US$2.55 billion of capital committed.
The platform, which includes two risk transformation firms — London Bridge Risk PCC and London Bridge 2 PCC — has established 19 cells to facilitate institutional investment in the Lloyd’s market.
Eight Lloyd’s managing agents are currently leveraging London Bridge, supported by 10 new institutional investors underwriting risks in the Lloyd’s market.
According to Lloyd’s, the platform allows its members and managing agents to strengthen their capital and risk management strategies by tapping into alternative sources of capital and reinsurance protection.
In collaboration with the UK’s Prudential Regulation Authority and Financial Conduct Authority, Lloyd’s has developed a framework to ensure regulatory compliance while offering commercial flexibility.
The Scope of Permissions for London Bridge 2 PCC permits new cells to be created and reinsurance contracts to be written without requiring additional regulatory approvals, provided these permissions are satisfied.
Burkhard Keese, Lloyd’s chief financial officer, says: “Making the Lloyd’s market more attractive and accessible to institutional investors continues to be a strategic priority for Lloyd’s.
“London Bridge has now established itself as one of the most flexible and responsive risk transformation platforms in the ILS market, confirming our belief that Lloyd’s and the UK market remain a great place for institutional investors to access global (re)insurance risk.”
