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Robert Rechtern has spent the last two years at Lockton as head of A&H, sport & contingency.
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The syndicate will continue to diversify its portfolio but growth will be “more conservative” in 2025.
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Capital diversity can only be achieved when there are more options for third-party providers to access.
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MIC Global will become Lloyd’s coverholder of Greenlight Re’s Syndicate 3456 for 2025
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The Lloyd’s spread vehicle failed to meet fundraising deadlines.
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There has been some strategic withdrawal of capital for younger syndicates.
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With the storm’s losses looking more favourable, questions over rates and gross/net strategies will arise.
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A more residential-skewed loss would impact Lloyd’s carriers in treaty where market share is lower.
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Setting aside the storm’s greater potential insured loss scale, the flood risk implies greater exposure.
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Geopolitical conflict could expose the global economy to $14.5tn in losses.
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Increased interest follows ratings agency upgrades of Lloyd’s paper.
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The market organisation has commissioned Oxbow Partners to discuss implications of the burgeoning segment.