Operations/tech
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The start-up envisages expansion into insurance “in the coming years”, AM Best said.
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What really moves the needle at Lloyd’s is when the biggest beasts start to draw in their horns.
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In the newly created role the executive will lead a 100-strong team.
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The executive takes over from Peter Welton, who was made UK & Lloyd’s CUO for marine, energy and aerospace earlier this year.
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Revenue rose 2.2% on an underlying basis at the broking group.
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Acting CEO Alexander Craggs becomes deputy chief at the Lloyd’s business, while Jim Lye is confirmed as active underwriter. -
The carrier cut back net written premiums in its overseas operations by 12.3% following restructuring at MS Amlin.
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GIC said it co-led the consortium of existing and new investors to commit $1bn to the carrier.
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The move follows a series of launches of similar units in the UK and US.
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The Italian carrier has achieved its target of EUR200mn in expense reduction as part of its three-year plan.
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Following market consultation, the re-imagined model is to be unveiled in Q2 2021.
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The capital raise underscores Catlin and Brand's ambition to build the leading London specialty franchise.
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