November 2011/3

Lloyd's must modernise, internationalise and diversify its talent pool if it is to succeed in the next decade and beyond, its new chairman John Nelson told senior London market executives last week.

A number of Lloyd's syndicates have pared back profit predictions from the past two years of underwriting as low investment rates pull down results.

Further evidence is emerging that Lloyd's capacity may increase slightly next year to a new record size, as a number of syndicates are unveiling new quota share arrangements to increase their potential stamp.

The major Lloyd's (re)insurers have endured another volatile quarter, as last week's cluster of third quarter operating updates demonstrated, but inevitably the focus has largely turned to 2012 and potential pricing improvements.

Lancashire has written $50mn of premiums through its 2011 Accordion sidecar, the company revealed in a third-quarter earnings presentation last week.

China Re to launch Catlin Lloyd's QS syndicate in 2012

French state reinsurer CCR has confirmed that it is facing substantial losses from the Thai flooding, but has refused to comment on speculation that it is poised to withdraw from the country.

The ambitious managing general underwriter (MGU) and insurance start-up ANV has added to its roster of industry heavy-hitters by appointing former Guy Carpenter COO Charlie Fry to its London office, The Insurance Insider can reveal

Recent improvements in UK motor insurance results will be short-lived and the underwriting cycle may even have already passed its peak, according to Standard & Poor's (S&P).

An aspiring state-owned catastrophe reinsurance facility for south-eastern Europe is currently being established by the governments of Albania, the former Yugoslav republic (FYR) of Macedonia and Serbia, and is tendering for a firm to manage it.

A subsidiary of CV Starr, the insurance group run by former AIG chief executive Hank Greenberg, is suing the US government, alleging that its bailout of the insurer during the financial crisis was unconstitutional.

The Insurance Insider analyses what the combined group will look like if the $3.4bn takeover completes next year...