Atrium
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The firm said its reserving for the year is modelled on multiple scenarios. -
Atrium reserved £264.5mn for potential claims resulting from leased aircraft in Russia.
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As a drip-drip of exits have continued amid a harder cat market, broader questions arise.
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Syndicate 609 will focus on deploying capacity in D&F and specialty.
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InsurX launched into the D&F market earlier this month and plans to facilitate the placement of around $30mn of property D&F business.
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Lloyd’s may be wary of making disciplinary hearings more public, but it could at least make processes more transparent.
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He steps into the role vacated by Richard Harries, who will retire at the end of the month after more than 26 years at the carrier.
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Hampden wrote that the syndicate may be leaving the 2021 year of account open “depending on developments over the next 12 months”.
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The carrier has reserved a gross figure of £138.3mn for stranded Russian aircraft, but the eventual size of claim remains uncertain.
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Andrew Hedges – who writes the book – will leave the business after a transitional period to oversee the run-off.
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The increase comes amid improvements in the rating environment, a weaker sterling and the impact of inflation on insured values.
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Lloyd’s Syndicate 609 active underwriter Toby Drysdale will be replaced by Peter Laidlaw.
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