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The Corporation said insurance was “too ingrained in the world economy for us to not play an active role”. -
Combined ratio aside, detail on growth, rates and reserves will give some indicator of how well the market is preparing for what lies ahead.
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Acrisure Re brokered the deal.
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The firm will leverage its partnership with DXC to build a fully digitalised managing agent, the co-CEO said.
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As part of the deal, all staff working for the managing agent will join Mosaic, while SiriusPoint will become a strategic investor in the carrier.
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The theme of yesterday’s market briefing is that Lloyd’s is now moving into a period of growth, having completed remediation, but it wants smarter, sustainable growth.
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The Corporation’s chief of markets said managing agents will be expected to articulate the differences between cat loss ratios from modelling to plan.
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The transaction involves net technical provisions of more than £200mn.
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The analyst said that a limited impact from the conflict is expected in other business lines such as trade credit, marine cargo and aviation war.
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The former head of GC Securities will be tasked with easing investment in Lloyd’s underwriting.
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Executives have set out how firms can transition to the processing solutions being built under the joint venture between DXC, Lloyd’s and the IUA.
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Fellow Names-backed Verto Syndicate 2689 reported a loss of £10mn for 2021.
