Opinion

The flight of reinsurers to mid- and upper layers of programmes is influenced by recent experience but softening at this level can be seen as a risky move.

Lloyd’s may be wary of making disciplinary hearings more public, but it could at least make processes more transparent.

The move points to a longer spell of independence for Miller – but possible bearishness on external interest in UK broking.

The question is whether the inherent value in CFC was in fact concentrated in departing executives David Walsh and Graeme Newman, or if the business can trade forward as it did.

The 200-year-old firm is not the only one to be caught up in watchdogs’ investigations into corruption and bribery controls.

Does one party – the carrier or the cedant – have to lose out for the other to succeed?

London’s insurance market is booming in some ways yet still has multiple challenges to address.

Lloyd’s has been trying to simplify its story for external investors, but it has more work to do judging by the outcome of the London SPAC vehicle that was planning a new syndicate investment launch.

Trading at just 0.6x book, the firm is a cheap option for an insurer which is looking to enter E&S, or is underweight in the sector.

Variations between the casualty and cat markets mean 2024 cat outcomes may be far less uniform than they were this year.

At a point when cyber rates are falling and capacity is plentiful in high excess layers, the mutual plans have the wider cyber market somewhat perplexed.

The 3x3 plan takes the things about the firm over the last decade that have been distinctive and intensifies them.