Brit
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Growth in property income was offset by a reduced share of finpro business.
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Combined ratios have improved as prices rise and investments return to profit.
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The partnership will add more capacity on the platform from April.
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The carrier reported an undiscounted combined ratio of 76.2% for the year.
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The underwriter will report to Kristina Maffit.
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Brit Cyber First50 will be placed through the Brit-led consortium.
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The carrier booked a fourth-quarter combined ratio of 88.3%.
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The senior energy underwriter exited amid a strategic pivot at the MGA.
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The CEO speaks on portfolio remediation and the future of the lead-follow model.
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The executive’s career includes stints at Acappella and Amlin.
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The Build consortium will target sectors including renewables, power, waste to energy, infrastructure and innovation.
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The class exit comes after it emerged in November that Brit had withdrawn from the space market.
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The follow-only algorithmic syndicate has stamp capacity of $925mn for next year.
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The carrier previously led a space consortium for 25 years and co-launched a Lloyd’s-backed space consortium with Hiscox MGA in 2019.
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Brit’s combined ratio shed 23.4 points to return to a profitable 94%.
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He will be succeeded by Jon Sullivan, currently deputy group CUO and active underwriter for Syndicate 2987.
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The class underwriter has spent more than two decades with Brit.
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As the algorithmic syndicate has diversified its capital base, the risk-modelling world provides a parallel with regard to how these initiatives could develop.
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The company said Ki is the first algorithmic underwriter to offer capacity from multiple syndicates.
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Former Brit CEO Matthew Wilson will take on a role of special adviser to the Lloyd's Council later this year, Insurance Insider understands.
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The carrier reported no major loss impacts during the six-month period.
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After Apollo announced a collaboration marking the latest milestone for algorithmic underwriting-led follow capacity in the London market, Insurance Insider explores how such partnerships can proliferate.
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The transaction, which was announced in early January, included Ambridge’s operations in the US, UK and Germany.
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The executive has a background in consulting and briefly worked as CFO of Talbot.
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The cross-line facility launch – in a generally firm market – suggests that the tech-driven era of facilitisation is continuing to gain pace.
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The Ki syndicate saw a year of significant growth, as its GWP rose by 110.8% to $834.1mn, with Brit also continuing to expand top line.
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Increased appetite to grow in the cyber market is moderating rate momentum after a period of major hardening.
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The appointment comes after senior cargo underwriter Caroline Monnickendam left Brit for Munich Re Syndicate.
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Paolo Cuomo joined last year from Brit, where he worked as director of operations, having joined the company in 2019 as head of strategy.
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Ambridge was founded 22 years ago by Jess Pryor, executive chairman, and Jeff Cowhey, CEO, who will continue to lead the company after the deal has completed.
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The follow-only syndicate is one of the fastest growing entities in the market’s history.
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Odyssey also booked an underwriting loss and a combined ratio of 107.8%.
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Subject to regulatory approval, Martin Thompson will succeed Matthew Wilson as group CEO and executive chairman of Ki, effective today.
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The hire of Ben Phillips comes amid a recent uptick in personnel movement in financial lines after a period of stability.
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Staff movement is high in the cargo space as carriers look to expand in an improved rate environment.
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The executive is working with Blood Cancer UK on a fund for a rare condition.
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