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It was announced earlier today that the US wholesaler had agreed to acquire Atrium.
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The PRA, FCA and Society of Lloyd’s have agreed to the changes.
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The deal comes amidst an expected spell of M&A on Lime Street.
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Plus the latest people moves and all the top news of the week.
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The Lloyd’s syndicate was one of just a couple of reinsurance start-ups in the current hard market.
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Gallagher, Marsh and Aon also faced sizeable outstanding premium payments as at Q4 2024.
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The new chair said the market must adapt for 2030 and beyond.
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The FCA is reviewing how it can simplify regulation for commercial insurers.
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Lloyd’s executives have suggested ceded reinsurance syndicates could help London compete in treaty.
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The managing agency is offering 62p per £1 for 2026 YoA capacity.
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The international casualty director has worked at Axa XL, Ive and Ardonagh.