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Slowing primary pricing, the looming threat of inflation and increased cat retentions were key themes from this reporting round. -
Rokstone’s new PI facility is for UK and EU risks with a £2mn primary and a £5mn excess of loss limit.
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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 business marks the latest launch into a financial lines market that has attracted substantial amounts of capacity.
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Companies will also face claims relating to cyber security and problems with ESG disclosures.
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Alex Burton Brown’s appointment comes at a time of elevated personnel movement in the financial institutions space.
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The broker said a dearth of IPOs had created a “buoyant environment”, with both start-ups and incumbents competing.
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The underwriter joined the company in 2020 amid hard market conditions.
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While competition is picking up, a likely rise in claims during a recession is likely to prevent a return to a soft market.
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There has been a recent uptick in personnel movement in the financial institutions space.
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Prices are falling in the London D&O market amid competition to secure business from incumbents and new entrants.
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Jodie Major worked for Chaucer’s financial institutions team, and the carrier has recently exited the market.
