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The index is a three-year strategic project to track social inflation by analysing personal injury awards. -
The carrier is seen as a likely target of Lloyd’s ‘Big Game Hunting’ strategy.
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The Lloyd’s (re)insurer is looking to execute a five-year plan to double GWP to $3bn.
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The broker facility is led by Beazley’s Smart Tracker Syndicate.
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The Corporation is set to monitor commission structures and facility participation.
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Lloyd’s has taken around 6% of aggregate US hurricane losses in recent years, and disclosed estimated net losses from Helene and Milton of $1.8bn to $3.4bn.
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The Lloyd’s market chief stressed the need to grow into new classes and took aim at DA management.
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Cyber is more in the one- or two-year loss development camp, the Lloyd’s CUO said.
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The market’s dearth of third-party managing agents is a source of tension among young syndicates.
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Large syndicates outside top performer quartiles have been afforded significant room to grow.
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Oak Re confirmed Bain as an investor, with further capital through Hampden clients and Alpha.
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Overall, syndicates have slightly improved 2022 forecast returns, with 2023 projections closer to stable.
