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The lineslip will be available alongside the MGA’s existing capacity. -
Evercore is leading the capital raise process and Aon is assisting with the Lloyd’s application process.
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Chaucer’s Richard Milner, Atrium’s John Fowle, MS Amlin’s Clare Constable and Nephila’s Adam Beatty will join the board.
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A new cutover date will only be decided once key activities are completed or near completion.
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Léger will work as chair and Neal as vice-chair of the reinsurance advisory board.
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A standalone syndicate could offer capital, trading, and licensing advantages.
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Reinsurers “weren’t getting paid” before 2023’s hardening, the Lloyd’s executive argued.
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Beazley CEO Adrian Cox said that the carrier’s growth rate would slow as market conditions shift.
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The MGA will focus on deals in infrastructure, technology, logistics, healthcare and financial services.
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The Cut-over Review Committee will review the readiness of the London market.
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Self-insurance has taken $25bn more premium out of the market than five years ago.
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The Lloyd’s vehicle will focus on its existing spread portfolio.
