A number of Lloyd's syndicates are set to take advantage of propitious pricing conditions next year with significant planned increases in stamp capacity, The Insurance Insider can reveal.
Lloyd's Franchise Board has granted managing agency Apollo in-principle approval to establish Special Purpose Arrangement (SPA) 6133, which will reinsure a portfolio of property catastrophe business underwritten into its main Syndicate 1969
XL Group is already seeing double-digit rate rises for short-tail lines, with loss-affected accounts showing higher increases, according to Greg Hendrick, president of property and casualty insurance and reinsurance.
Reinsurance-focused InsurTech start-up Insurdata has raised $1m in seed financing from investors including Menlo Ventures, Anthemis Baloise Strategic Ventures and Plug and Play.
