Atrium
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Mark Connellan is the latest addition to Bassel Matta’s team. -
Beth MacGregor and Adam Vulliamy are also set to join from Axis Capital.
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Simon Clegg will leave Syndicate 609 after 25 years.
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The airline has exercised a break clause to renew its cover six months earlier.
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In trying to solve multiple needs, specialty reinsurance opens up complexities.
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The syndicate now predicts a return on capacity for 2021 of between -5% and 5%.
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Robert James is set to join the Bassel Matta-led team.
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The Lloyd’s carrier is expected to try to claim multiple times under the policy.
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Duc Tu and Lucy Howard have resigned from Atrium.
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The new team will be headed by Brown & Brown’s Ed Byrns.
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Plus, the latest people moves and all the top news of the week.
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A second syndicate is being explored for “big and bold” new lines
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Plus, the latest people moves and all the top news of the week.
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How is The Fidelis Partnership choosing to launch into new insurance classes as it rapidly expands?
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It was announced earlier today that the US wholesaler had agreed to acquire Atrium.
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Sixth Street and Cornell also bid for the wholesaler.
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The deal comes amidst an expected spell of M&A on Lime Street.
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Plus, the latest people moves and all the top news of the week.
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The Atrium-led cover renews after the multi-billion-dollar High Court ruling.
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The managing agent for Syndicate 609 has been involved in an M&A process this year.
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Alex Cullen left Atrium last month.
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Chance Gilliland spent a decade at Chubb underwriting property binders.
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The Lloyd’s syndicate is a lead market in aviation war.
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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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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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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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The market veteran is launching the business via Fidelis’s Pine Walk platform with $100mn of capacity.
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The appointment follows the departure of Atrium underwriters Richard Tomlin and Kelly Gallagher for Convex.
