Operations/tech
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Syndicate 3123’s opening is “the largest-ever launch of a Names-sponsored syndicate in Lloyd’s”. -
The model uses machine learning and daily data to forecast hurricane seasons.
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A new cutover date will only be decided once key activities are completed or near completion.
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The company will now focus on its better-positioned businesses.
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With topco liquidation looming, there are questions for R&Q and the wider market.
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The Cut-over Review Committee will review the readiness of the London market.
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Self-insurance has taken $25bn more premium out of the market than five years ago.
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Latin America and the Caribbean accounted for 4.6% of GWP for Lloyd's in 2023.
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Initial testing ahead of the switch to a cloud-based system is around a month behind.
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The track record of smart-follow vehicles is still young, but the segment is gaining traction.
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The shares are being sold by select shareholders in the group.
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Proposals will be put to the Lloyd’s Council over the coming weeks to take effect from 2025.
