Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Reinsurance Market topic
No spam. Unsubscribe anytime.
Lloyd's of London tells Florida panel reinsurance capacity has returned; innovation and litigation trends cited
Summary
Sabrina Mysiewicz, U.S. general counsel for Lloyd's of London, told the committee that Lloyd's wrote roughly $70 billion in premiums in 2024, that reinsurance capital returned in 2024 and 2025 produced competitive pricing, and that Lloyd's is deploying ILS and InsurTech tools to expand capacity while Florida litigation volumes have fallen since reforms.
Sabrina Mysiewicz, U.S. general counsel for Lloyd's of London, told the House Insurance & Banking Subcommittee that the Lloyd's marketplace has seen significant capital inflows and that underwriters expect continued competition in reinsurance pricing.
"Lloyd's is the world's largest insurance and reinsurance marketplace," Mysiewicz said, adding that Lloyd's wrote about $70,000,000,000 in premiums globally in 2024 and that roughly half of that came from the U.S.; she noted Lloyd's wrote "almost 2,100,000,000.0 in surplus lines premiums and 1,200,000,000.0 in reinsurance in 2024" in Florida.
Mysiewicz described two Lloyd's initiatives aimed at broadening capacity: London Bridge, an ILS (insurance-linked securities) platform that lets syndicates access capital markets and structure catastrophe bonds or similar instruments, and the Lloyd's Lab InsurTech accelerator for technological risk tools. She cited a Lloyd's Lab alumnus, CatX, which builds AI-enabled platforms and parametric products and can connect insurers with institutional investors.
On litigation, Mysiewicz said she sees a divergence between notices of intent and filed lawsuits: "the volume of notices is going up and the volume of litigation is going down," which she described as the notices working to bring parties together before suit.
Members asked about arbitration clauses, out-of-state arbitration, and whether Lloyd's requires arbitration in other jurisdictions. Mysiewicz said Lloyd's does not mandate specific policy clauses for its businesses and that arbitration provisions are more common in commercial policies than in personal lines.
What to watch: Mysiewicz said 2025 showed mild market softening and that reinsurers had been able to obtain adequate returns for investors; she cautioned that pricing and investor appetite remain sensitive to large catastrophe years and to the global economic environment. Lloyd's offered to continue dialogue with Florida stakeholders and to answer follow-up questions about market conduct and claims-handling oversight.
