Atrium
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The Lloyd’s syndicate is a lead market in aviation war. -
The syndicate expects to book a combined loss of £39mn from hurricanes Helene and Milton.
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CEO John Fowle said “isolated missteps” had tarnished Atrium’s record.
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Westfield Specialty has experienced high turnover in its London market operations.
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The carrier unveiled its launch last week and is hiring across its divisions.
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With Atrium marking another case of potential bifurcation, where is the natural home of risk?
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The Lloyd’s carrier is considering options to bring an investor into only the agency side of the business.
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James Cox succeeds James Lee, who is set to retire at the end of 2024.
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The carrier also warned of “uncertainty” around 2021 due to exposure to “Western-leased aircraft in Russia”.
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The firm said its reserving for the year is modelled on multiple scenarios.
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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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