Throwback Thursday: War opens Lloyd’s; Royal spending
Insurance Post’s Throwback Thursday steps back in time to January 1991 to remind you what was going on this week in insurance history when the Gulf War saw Lloyd’s remain open at the weekend and Royal, now known as Intact, wanted to raise brand awareness.
24 January 1991: War opens Lloyd’s
The start of the Gulf War saw Lloyd’s open on Saturday and Sunday for the first time in its 300-year history.
The decision to open over the weekend “was taken for the benefit of policyholders because of the ever-changing situation”, according to a Lloyd’s spokesperson.
In the immediate aftermath of the action marine rates started moving up sharply and underwriter Christopher Rome said the market had to remain open to the possibility of a nuclear strike.
The invasion of Kuwait led to a United Nations Security Council embargo and sanctions on Iraq and a US-led coalition air and ground war, which began on 16 January 1991, and ended with an Iraqi defeat and retreat from Kuwait on 28 February 1991.
Royal’s adverts
Royal Insurance announced it was spending £10m on an advertising campaign to increase awareness of the group.
The campaign featured adverts about home insurance with the slogan “Take care of yourself with the Royal” and was in addition to the provider giving the Royal Shakespeare Company £2m.
Royal Insurance merged with Sun Alliance in 1996 to form RSA, which was bought by Intact in 2021 and rebranded to Intact Insurance in October.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Lloyd’s/London
Why facilities are here to stay in the London market
View from the Top: Jon Cope, managing director of specialty lines at Intact Insurance, predicts broker facilities will continue to drive the market in 2026.
Turk outlines how Lloyd’s can grow in ‘knife edge’ market
Lloyd’s chief of market performance Rachel Turk has highlighted areas in which she thinks the market can continue to grow in a pricing environment that she characterised as “softening” but not yet “soft”.
Beazley rejects Zurich’s latest offer
Beazley's board and shareholders have confirmed it has rejected Zurich’s latest offer to buy it outright for around £7.67bn.
Q&A: Tom Hughes, IUA
Tom Hughes, appointed director of underwriting at the International Underwriting Association last year, outlines the company market body’s priorities from an underwriting perspective for 2026.
Throwback Thursday: Broker goes bust; Lloyd’s loss
Insurance Post’s Throwback Thursday steps back in time to January 1991 to remind you what was going on this week in insurance history when a broker went bust and Lloyd’s was less buoyant than it is now.
Is Beazley set to reject Zurich in hopes of a better offer?
Analysts have suggested that while Zurich’s public proposal to acquire Beazley for around £7.7bn is attractive, shareholders may feel they can hold out for a higher offer.
Zurich submits proposal to acquire Beazley
Zurich has submitted a proposal to acquire Beazley outright for a price of 1280p per share, which values the specialty insurer at approximately £7.7bn.
PWC’s Bichard replaces Cliff as Lloyd’s CFO
Lloyd’s chief financial officer Alexandra Cliff is set to leave her position and be replaced by Jim Bichard, who is currently head of PWC’s global insurance practice.