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Andrew Lewis has outlined growth plans for Xitus, a niche global legacy firm he has co-founded that will focus on non-life and reinsurance deals of $5mn-$50mn.
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The platform has gained Lloyd’s coverholder status along with capacity from Beazley, Axis and Greenlight Re, and started to bind risks in contingency, before expanding to other business lines.
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Major M&A this year has settled the future of a number of players – while the hard market presents an opportunity for challengers.
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Andrew Hedges – who writes the book – will leave the business after a transitional period to oversee the run-off.
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The band had filed a claim against insurers including Talbot, Liberty Mutual, Brit and Munich Re’s Great Lakes Insurance.
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Speakers at the London Market Conference clashed over the role of data in innovation.
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The market share for the storm of 3%-5% is below syndicates’ historical average for US wind events.
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Moves to push down London broker commissions highlights the options open to write reinsurance platforms in other markets.
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As a result of the retirements of Nick Ford and Julian Leigh, SA Meacock & Company plans to tender capacity on its Syndicate 727 in the Lloyd’s capacity auctions.
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Matthew Wilson, Matthew Moore, Emma Woolley and David Croom-Johnson have stepped down from the board.
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In the last two days of a consultation on the new iMRC template, the volume of responses surged by more than 2,500, leading to a revised timeline for its launch.
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Lockton said the new program provides full access to London market capacity, estimated to be in excess of $850mn for custody coverage.
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