Lancashire
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Lancashire’s upstream income was broadly stable in 2020 as the carrier registered modest rate increases. -
Aon-Willis, CFC's new Lloyd's syndicate, Talbot's contingency retreat and more.
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The CEO said the carrier was turning aside more business than it wrote, yet had “sufficient headroom” to grow.
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CEO Alex Maloney says the group’s highest-ever Q1 GWP was driven by market conditions.
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The former global energy CUO takes on the newly created role effective immediately.
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The carrier predicts $40mn to $60mn of GWP this year from new lines of business.
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The goods-focused pact includes a joint declaration on financial services, though crunch issues have yet to be resolved.
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Major consolidation laid the ground for current new launches, the Conduit chairman suggested.
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“It is very hard to think about the future if you can’t make money today,” the Lancashire CEO said during (Re)Connect.
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Commentary from Beazley and Lancashire also flags challenges on volumes, interest rates and recessionary claims.
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The CEO said people were getting “ahead of themselves” to say it was the best market conditions in recent memory.
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Analysts had expected the carrier to make a first-half profit, but reserve deterioration and higher Covid-19 claims impacted results.
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