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Lloyd’s has limited exposure to Credit Suisse and banking downturn: CFO Keese
Lloyd’s also clarified that its overall exposure to US regional banks is around £630mn, spread across more than 50 syndicates.
Latest News
Specialty reinsurance profits dropped amid Ukraine war claims.
The group CUO role is being eliminated with the function pushed back into the regions and specialties.
The reinsurer said cat reinsurance rates hit a 20-year high, driven by losses, inflation and financial markets.
The executives said the P&I market needs to be “very careful” about underwriting conditions.
Opinion
Opinion
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Analysis
The combined ratio reported by Lloyd’s for 2022 would put it in the top half of Insurance Insider’s peer group, analysis of preliminary results shows.
Lloyd’s has drawn attention to an improved attritional loss ratio in 2022, warning the market that it would be “very difficult to get back” if it slips.
The release of Swiss Re, Munich Re, Hannover Re and Scor’s year-end reports provides an update on market conditions.
Beazley executives spoke of further growth prospects in the class, after its results revealed a 79% combined ratio for its cyber division in 2022.
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Interviews
Interviews
Gard’s best underwriting results in 15 years was driven by the “extraordinary” lack of large losses in its commercial marine and energy business last year, according to CEO Rolf Thore Roppestad.
The executive said the carrier had sufficient “dry powder” to expand in hard market conditions.
The executive said the low claims of 2022 and the large losses of 2021 were anomalous.
The MGA’s international platform hopes to bring in MGA underwriters looking for US expansion.
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