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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.
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The number of female CEOs, CUOs, CFOs, MDs or board members has hardly changed in the past 12 months.
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Axa’s Sean McGovern was also elected as a corporate external member of the Council after running unopposed.
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The fine relates to a breach that took place in 2017, where hackers were able to access the data of 13.8 million UK consumers.
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The three new capital vehicles fundraising for a Lloyd’s play, coupled with some of the best underwriting conditions seen for years, have raised the prospect of a new age of investment in the market – but questions remain around execution.
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The appointment follows the recent hire of Pascal Carrer as head of casualty in Switzerland, and David Corrigan as head of property.
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Loss severity and prior-year development in US casualty dominated discussion at The Broadmoor.
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Lloyd's has set out what London market firms will need to do to transition from decades-old systems to new central services in July next year, in a crucial step of several modernisation milestones to come in 2024.
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The pressure is on Lloyds to deliver benefits as other players build up their domestic E&S platforms.
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The UK does not currently have a specific legal and regulatory framework for hosting captives.
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The consortium is supported by 11 other Lloyd’s businesses.
