CFC
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Giles has spent more than five years at Themis Underwriting. -
Jane Poole will succeed Michael Grist, who exits after nearly 16 years.
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Nick Line has spent 28 years at Markel, where he has been CUO since 2018.
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The pair is looking to provide investment and strategic advice to early-stage firms.
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The combined ratio improved by 3.2 points, from 80.9% in 2023 to 77.7% in 2024.
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CUO responsibilities will now be split out across senior underwriting leadership.
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Jason Hart, head of proactive cyber, was also promoted to managing director.
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Insurers should reform underlying data before using AI, according to experts.
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CFC developed and employed the lenders carbon-credit insurance policy with Standard Chartered Bank.
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Holmes said that CFC is rewriting policies for micro and startup businesses with “as few exclusions as regulators will tolerate”.
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Corbett is a founder and strategic adviser at McGill and Partners, and Joseph is a partner with Vario Partners.
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A roundup of all the news you need today, including Lloyd’s chairman candidates.
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The hard market has not burst the MGA bubble – and now interest is on the rise again.
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O’Shea outlined growth ambitions and managing leadership transitions at the MGA in a wide-ranging interview.
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The MGA has seen a “significant uptick” in dealmaking in the sector.
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CFC noted that growth moderated amid increased competition in cyber.
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The executive was speaking on the Behind the Headlines podcast.
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It plans to deliver other products for parts of the carbon value chain.
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The executive has over two decades’ experience in the market.
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The team will be led by Alejandra Hernandez Irizarry and Courtney Alonzo.
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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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The question is whether the inherent value in CFC was in fact concentrated in departing executives David Walsh and Graeme Newman, or if the business can trade forward as it did.
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Insurance Insider understands David Walsh told employees in a memo that “certain culture failings” were identified in an investigation which had gone on “for some time”.
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The centre will identify, define and categorise cyberattacks in a similar way to catastrophe events.
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At the CFC Summit 2023, James Burns said that clearer cyber systemic risk definitions in policies could enable the formation of a "true cyber catastrophe market".
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Existing CUO Andy Holme will move to a broader group role.
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James Burns, head of cyber strategy at CFC, said updated war exclusions could be beneficial for policyholders if properly defined.
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Simon Hughes spent just under seven years as CFC’s cyber team leader.
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The carrier also posted a 187.3% increase in its GWP, reporting premiums of $218.8mn in 2022.
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Scott Bailey previously spent 12 years at CFC managing the technology and media division.
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The MGA has grown its fintech book by 100% in the last year and the new team will be led by Hannah Durrant.
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The move marks a return to the MGA for Bailey, who was one of CFC’s early employees.
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The executive will work to develop insurance products and solutions at the MGA.
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The MGA is a “significant way down the road” in establishing an independent body in the UK for declaring and categorising cyber catastrophe events.
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The Lloyd’s chairman acknowledged that, five years ago, the corporation wasn’t “match fit”.
