Binders
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Lloyd’s has asked all syndicates to outline their delegated authority (DA) portfolio at a whole account level for syndicate business discussions (SBDs), as the 2024 business plan cycle kicks off. -
Reinsurance renewals were more orderly than feared and business plan resubmissions have a positive weighting.
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Argenta will be a cornerstone capacity provider to new MGA Casper, which will write $100mn in year one.
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It is understood that the Miami-based underwriter will continue operating with capacity from Bermudian carrier PartnerRe and Mexican reinsurer Patria Re.
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The executive joined the carrier last year as underwriting manager for US delegated authority.
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LIMOSS and Vitesse will deliver the claims service, which is part of the Blueprint Two reforms, and are offering discounts to syndicates signing up in H1 2023.
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Derrick Potton and Alex Fell will work on business development and management liability respectively.
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The move follows Jess Pryor’s promotion to executive chairman of Brit’s US business.
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Rising Edge will provide D&O cover for companies ranging from US-listed entities to private entities.
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However, 2021 could be a turning point for the profitability of delegated authority books, according to the broker.
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Huge uncertainty reigns over the ultimate size of the loss, the full extent of which will take months to play out.
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Axa will be the MGA’s main capacity provider from February for construction and engineering products.
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