Lloyd’s has confirmed investments to help two Lloyd’s Lab alumni, Axio and REOR20, develop insurance solutions within the London market.

They are the first two investments from its Central Fund private markets allocation, which is dedicated to backing Lloyd's Lab alumni that can support the market with “innovative technologies and solutions”.

“The Lloyd's Lab is a centre of innovation for the insurance industry, giving us as investors the opportunity to back great companies ourselves where we have a strong shared interest for our industry,” Lloyd’s Chief Investment Officer Eleanor Bucks said.

“We’re able to generate attractive return on capital and aid the growth of these companies for the benefit of the market.”

US-based Axio helps businesses manage cybersecurity performance, while Switzerland-based REOR20 is developing the next generation of flood models.