The Corporation’s deal signals a moderate view on growth and a refined approach to solvency management.
The Lloyd’s CFO said the deal will finance growth at a cost "three times cheaper" than charging members to support the central fund.
Eight reinsurers and JP Morgan supported the programme, which triggers once aggregate payments from the Central Fund exceed £600mn.
Inside P&C gives a blow-by-blow account of the regulator's antitrust complaint against the mega deal.
The deal combines the two major mobile telematics companies, which will now cover 21 of the 25 top US auto insurers.
17 June 2021
New entrants have eased the capacity constraints that played a large part in last year’s huge rating changes.
Hiscox leads with the largest number of accepted claims and interim payments, while MS Amlin lags on payment of data-supported claims.
Smaller carriers are monitoring the exercise as the sector races to meet a separate PRA deadline.
Senior executives on the island saw the coordinated initiative as a clear long-term threat, but one that is mitigated by various other attractions of operating in Bermuda.
State-backed carrier GIC Re faces competition as the European Big Four press into the subcontinent.
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