Behind the Headlines: Lloyd’s CFO Jim Bichard on the burgeoning ceded re market

The Lloyd’s market has been instrumental in pioneering new ceded reinsurance vehicles, but what are the prospects for continued growth?

According to Lloyd’s CFO Jim Bichard, London Bridge II still only accounts for £3bn of capital, compared to the wider $120-$140bn alternative capital market of cat bonds and collateralised reinsurance.

Bichard told Behind the Headlines that the opportunity for continued expansion is therefore significant, and now several major insurers have launched ceded reinsurance syndicates the “spell has been broken”, meaning more will follow. 

Speaking during the Rendez-Vous de Septembre, Bichard also reflected on Lloyd’s recent H1 results, and the Corporation’s attitude to 2027 business planning.

And in his week’s news discussion, Insurance Insider editor Fiona Robertson delivers her key takeaways from meetings in Monte Carlo.