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Part of the syndicate’s premium for clinical-trial-funding cover will move to Syndicate 1902. -
Steven Crabb will become deputy chairman on the insurance solutions division.
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The company has recently made several senior changes to its UK and Lloyd’s leadership.
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Ex-Tysers chairperson Dan Lott heads the consultancy as CEO.
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In trying to solve multiple needs, specialty reinsurance opens up complexities.
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The repricing on the broker’s $3.1bn term loan will save an estimated $8mn per year.
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A number of staff will be leaving the D&O team as a result of the restructuring.
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The syndicate now predicts a return on capacity for 2021 of between -5% and 5%.
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Connor O’Riordan has served as chief capacity officer and group head of corporate finance.
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He joins from MS Amlin, where he was lead underwriter for US casualty.
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Market leaders Atradius and Coface have both received in-principle approvals for a Lloyd’s syndicate.
