The facility would largely involve Lloyd’s companies but Apollo confirmed it could potentially include London company market firms on a reinsurance or sidecar basis.
The PRA will undertake work to understand liquidity risk across insurers, after liquidity crises that have engulfed Silicon Valley Bank, Signature Bank and Credit Suisse.
CEO John Neal and CFO Burkhard Keese retained their salary levels from 2021 during 2022, though their performance bonuses increased significantly, as Lloyd’s made one-off payments to staff to reflect cost-of-living pressures.
In the aftermath of Silicon Valley Bank’s 11th-hour rescue, InsurTech investors have ramped up systemic risk controls across their portfolios amid a tightening funding landscape
