Lloyd's
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Approximately 1.2 million units are vacant throughout the state.
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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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Hear the latest from the marine market as it weighs up the implications of the bridge collapse in Baltimore. Early indications are the claim could eclipse losses from Costa Concordia, stretching into the billions.
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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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Insurance Insider editor in chief Catrin Shi helps unpack Lloyd’s preliminary 2023 results, and offers her perspective on Aviva’s acquisition of Probitas.
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The initiative will focus on fostering innovation through the Lloyd’s Lab.
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For the 2022 year of account, the updated forecast remains unchanged.
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Small scale cyber attacks are set to increase in the near term.
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The Corporation is walking a tightrope between encouraging further growth whilst maintaining discipline.
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There has been a 21% increase on a gross basis and a 62% increase on a one-in-200 final net basis for non-peak perils
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The Lloyd’s chief of markets argued that unmet demand and latent risk will keep rates increasing.
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The pension fund was one of the first investors to use London Bridge.
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CFO said rate discipline needed to remain to offset prior-year losses.
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Syndicate 6104 closed its 2021 year of account with a profit of 4.1%.
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DDM is due to be removed as a core central service on 13 September.
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As a drip-drip of exits have continued amid a harder cat market, broader questions arise.
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The target was initially set in 2020, with a deadline of December 2023.