MS Amlin

The leadership switch follows a restructuring of the CUO function of the Lloyd’s business, and is the latest in a series of changes across the wider group.

The move marks the latest sign of capacity retreat from the sector.

The carrier will continue to write reinsurance treaty and crisis management business in the territory.

The hotly anticipated judgment will be a milestone in the ongoing dispute about how carriers respond to Covid lockdown-related losses.

Specialty CUOs Andrew Wright and Mark Clements, and reinsurance CUO Phil Wooldridge step down as the newcomer is charged with “repositioning”.

The London market business booked the majority of its Japanese parent’s fiscal Q1 Covid-19 losses.

Insurers involved in the Financial Conduct Authority (FCA)’s test case for BI disputes have contested the regulator’s assertion that the Covid-19 outbreak was the proximate cause of insureds’ losses.

Carriers must “stop the clock” on claim time limits from today until the court outcome.

The late July High Court hearing will also involve Arch, Argenta and QBE.

The Japanese parent predicts a Covid-19-related drop in fiscal 2021 earnings.

The newcomer replaces Gilles Bonvarlet, who will become an independent non-executive director.

The unit’s former chief will work alongside current CEO Chris Beazley.