Operations/tech
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The Lloyd’s chairman urges less hubris about loss-making business. -
RSA will reduce its international marine book as well as exiting international construction, freight and fixed-price marine protection and indemnity insurance.
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Lloyd’s approves the Credit Suisse-backed business plan with an increase in property insurance capacity.
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The carrier aims for a faster claims process with less duplication.
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Xavier Villers will leave the business along with Julian Taylor, Brian Rivett and Andrew Miller.
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New business in core casualty lines will be sourced from wholesalers only as of the first quarter of 2019.
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As the ramifications of Lloyd’s crackdown on profitability becomes clear, the sad reality is that many people are losing their jobs.
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Syndicate 2468 is also expected to make around 30 redundancies as part of a company-wide consultation.
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Both Asian reinsurers have made key hires to their Zurich branches.
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The conditions of Wyatt’s departure, including his next location, are currently unclear.
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After six months, the Corporation is yet to find a regional director.
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The Hong Kong CEO departs after almost 12 years at the carrier.
