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Plus the full Insider Honours winners list, people moves and all the top news from the week. -
Lloyd’s chairman Bruce Carnegie-Brown paid tribute to Her Majesty the Queen yesterday evening at 1 Lime Street, before the Lutine Bell was rung and a two-minute silence was held.
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The H1 story has overall been a positive one for Lloyd’s, but the market and the Corporation are entering a period which will be characterised by huge uncertainty and volatility.
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CFO Burkhard Keese outlined expenditure on the digitalisation programme, in a media briefing on Lloyd’s H1 results that also tackled inflation and growth.
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A leaked document also details the rationale for the planned combination of syndicates 510 and 557.
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The Corporation is giving some employees a bonus to help tackle rising energy and food prices.
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Data shows that last September there was an uptick in commuter activity in the City, but a repeat in 2022 is uncertain.
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Lloyd’s posted a £1.8bn H1 loss overall, driven by unrealised mark-to-market losses which offset an underwriting profit of £1.2bn.
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The rating agency’s study on US surplus lines shows a gradual loss in the share of US surplus lines, held by Lloyd’s, since 2017.
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The Lloyd’s chairman acknowledged that, five years ago, the corporation wasn’t “match fit”.
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As a full syndicate, Carbon Underwriting predicts it will bring a gross written premium of £135mn ($155mn).
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The International Underwriting Association’s CEO Dave Matcham believes certain Blueprint Two projects can be vital in attracting more business to the London market.
