Atrium
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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. -
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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The suit is believed to be the first court case against insurers by a lessor in relation to the Ukraine conflict.
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Countries such as Russia, Ukraine and Belarus and other select geographies are excluded in the renewal terms, as is expropriation.
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With the Lloyd’s Lab in its fourth year and poised to welcome cohort eight to its incubator, Insurance Insider examines its impact so far.
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The Gallagher-placed programme is in focus as the aviation market tries to digest the implications of the Russia-Ukraine conflict.
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Atrium Underwriters has posted a combined ratio of 88% for 2021, with a strong underwriting performance driving profits up 24% to £68mn ($92mn).
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In his new role, Michael Cusition will report to David Sankey, head of Marine at Atrium.
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