London

The consortium is supported by 11 other Lloyd’s businesses.

Property remained the largest class of business, whilst North America is an increasingly important income source.

The SPAC has undergone a dramatic shift in strategy since it first listed on the London Stock Exchange.

The project shows that a well-designed and accessible market-wide effort to think outside the box on recruitment could be rewarding for the entire sector.

Letters from PPL's legal representatives had been issued to Ebix Europe, over the timing for the launch of Ebix Europe's new PlacingHub platform.

The London market businesses face potential fallout as Vesttoo investigates collateral inconsistencies.

Pantheon Specialty will assume 100% ownership of Denison and Partners, another BP Marsh-backed broker.

Plus all the latest executive moves and top stories of the week.

Three key reports have unearthed issues around capital and lower return period loss figures that may need to be addressed for the cyber market’s maturation, as a pivotal 1 July renewal date approaches.

London D&F underwriters are seeing rate rises of 15% on average on clean business, while loss-affected accounts are seeing their rates double.

Plus all the latest executive moves and the top news of the week.

PPL is looking to enhance its capabilities around generating a CDR in a pilot that could also demonstrate how a CDR validation process could work for many firms under the Lloyd’s Blueprint Two programme.

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.