Lloyd's
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Lloyd’s and Velonetic are still exploring three options for the latter stages of cutover.
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The Lloyd's CUO warned against "calling victory too early".
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The market also outperformed various indices including the MSCI World.
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Rokstone has taken box 335 on gallery three and will write several specialty lines from the box.
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The Corporation also appointed Marc Lipman as president of Lloyd’s Americas.
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This year’s analysis of profitability and volatility also includes an alternate view over five years.
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In a departure from 2022 trends, fourth-quartile firms grew the slowest of all syndicates in 2023 at 8.1%.
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Ariel and Blenheim were among eight syndicates moving into top underwriting quartile in 2023.
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The syndicate’s total recognized gains were up to £61mn, from £28mn in 2022.
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Growth in property income was offset by a reduced share of finpro business.
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The syndicate's GWP increased from £51.6mn in 2022 to £141.9mn.
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The syndicate posted a combined ratio of 84.6% and GWP of more than £1.2bn.
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Work is still to be done on the investor proposition, expenses, and navigating a waning pricing cycle.
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CFC noted that growth moderated amid increased competition in cyber.
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The syndicate reported profit up 44.7% to $153mn for the year.
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Lloyd’s gains leadership, and The Fidelis Partnership gets capital diversification.
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The executive said Aviva and Fidelis had endorsed the market’s turnaround.
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Atrium reserved £264.5mn for potential claims resulting from leased aircraft in Russia.
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Active underwriter Smelt said competitors’ ‘blanket’ approaches are creating opportunity.
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Combined ratios have improved as prices rise and investments return to profit.
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The syndicate’s GWP reached £1.44bn in 2023, a 7% increase on 2022.
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Primary casualty, aviation and motor classes were outliers in a bumper year for the market.
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The new target go-live date is October, but a milestone plan will be confirmed in April.
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The Lloyd’s CFO said returns needed to remain high due to investor fatigue.
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Processing and product innovation companies are also in the cohort.
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The injection will be sufficient to take the platform through its next stage of major development.
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Sources believe Lloyd’s may be veering away from central DA systems.
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The narrative of competition between the two hubs can hold space for benefits.
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The syndicate-in-a-box will target £34.1mn in gross premium for 2024.
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If you only read a handful of stories this week, make it the selection below.
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The initiative will focus on fostering innovation through the Lloyd’s Lab.
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