Lloyd's
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Lloyd’s new chief of markets today unveiled an even tougher approach to syndicates with consistently poor results.
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The D&I expert is taking up a role with the media and marketing company after six years with the Corporation.
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Plus the implications of the X-Press Pearl sinking and all the top news from this week.
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A bulletin from Hampden shows Names-backed syndicates had estimated a 1.7% hit to 2020 and a 1% hit to 2021.
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On average, syndicates which show consistency in their underwriting results also deliver higher underwriting margins.
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The covered agreement provisions will ease the flow of US business into London.
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he consortium and follow-only SIAB a targeted for a 1 January 2022 launch.
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The SIAB has abandoned the project, with no other syndicates currently involved.
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A restructured joint venture agreement between Lloyd’s, the LMA, IUA and DXC will deliver accounting and settlement services in the modernisation efforts.
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The results challenge the idea that syndicates need to build scale at Lloyd’s in order to succeed in the marketplace.
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The Insure Our Future network is due to hold “physical and digital actions” in Japan, South Korea, the UK and the US.
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CEO Peter Bilsby says Syndicate 1856 sees significant opportunties to expand profitably into the hardening market.
