London

Bay Risk will become part of Gallagher Re’s Global Programmes practice group, led by Andrew Moss.

AdvantageGo has secured agreements with Acord, Verisk, Vipr and Zywave to establish a collaborative ecosystem of London market data and technology vendors, which will help carriers modernise and prepare for the Lloyd’s Blueprint Two programme.

In the firm’s 2023 State of the Market report, it covered multiple classes, warning that for property (re)insurance in particular, inflation will likely continue to inflict pressure.

The veteran underwriter died surrounded by his family while on holiday in Antigua.

City Minister Andrew Griffith has outlined hopes for the Financial Services and Markets Bill, which will enact various regulatory reforms, including a new competitiveness objective.

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.

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.

Major M&A this year has settled the future of a number of players – while the hard market presents an opportunity for challengers.

Andrew Hedges – who writes the book – will leave the business after a transitional period to oversee the run-off.

The band had filed a claim against insurers including Talbot, Liberty Mutual, Brit and Munich Re’s Great Lakes Insurance.

Speakers at the London Market Conference clashed over the role of data in innovation.

The market share for the storm of 3%-5% is below syndicates’ historical average for US wind events.

Moves to push down London broker commissions highlights the options open to write reinsurance platforms in other markets.

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.

Matthew Wilson, Matthew Moore, Emma Woolley and David Croom-Johnson have stepped down from the board.

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.

Lockton said the new program provides full access to London market capacity, estimated to be in excess of $850mn for custody coverage.

UK insurers have now paid out £1.2bn in final settlements for claims relating to pandemic closures.

The MGA received regulatory approval for its new London and Dublin companies.

The InsurTech has launched in the UK after previously setting up shop in France, Germany and the Netherlands.

Sarah Pritchard, executive director for markets at the FCA, set out the regulators’ moves to improve efficiency and enable innovation at a speech.

The holding company’s approval from regulators means that Dale Underwriting Partners Syndicate 1729 can migrate from Asta to Dale’s own new managing agency.

The hires follow the launch of the M&A MGA’s operations in the UK in June.

A sale of the managing agency and Syndicate 1200 would represent tangible progress in Argo’s strategic process.