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The deal would mark the second time the carrier has come to the legacy market in recent times as the syndicate’s turnaround continues. -
The Corporation has updated the market on progress of its delegated authority workstreams, the iMRC and other foundational work.
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As the Aegis London CEO retires this week, he revealed his key lessons from over three decades in Lloyds – and what has to change if the market is to survive.
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The consultation will invite views on the intelligent market reform contract, or iMRC – a new template that will enable digital processing of the core data record.
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The Next Gen platform is expected to be completed in February.
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Lloyd’s said it did not expect the majority of syndicates to be impacted by the change
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The carrier is to underwrite a water risk InsurTech and a Hispanic neo-bank.
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Speaking at the Association of Lloyd’s Members conference, Verto Syndicate 2689 active underwriter Chris Sharp set out the questions underwriters are asking on inflation.
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Aviva Global Corporate & Specialty head Washington said Lloyd’s is likely to be an avenue for the carrier in future.
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The chairman’s new mandate will now run until June 2025.
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Arguably the Corporation could find more creative ways to promote its ESG targets, but the reality is that the showy protests are of less relevance than winning boardroom votes.
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While aggregate premiums grew by 1.5x between 2012 and 2021, annual expenditure at Lloyd’s on salaries and other employment costs has doubled.
