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Insurance Insider does the data work on how Ki’s first-year numbers compare with other Lloyd’s start-ups. -
Data Council chair and LMA CEO Sheila Cameron has set out the council’s priorities around Blueprint Two, and options for game-changing new contract formats.
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Syndicate 1221 is expected to return to underwriting profitability for 2021, The Hartford’s head of international Carl Bach said.
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Lloyd’s said that it had developed appropriate policies to manage the transition towards net zero.
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The chairs will lead three sub-groups, which have been formed from a wider technical group liaising with the Data Council, to begin vital work on adopting the Blueprint Two reforms.
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The carrier is looking to rapidly achieve scale, taking advantage of its capital light model.
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The deal covers the 2019 and prior years of account, but the size of the liabilities in scope were not disclosed.
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The company said that it was creating a new product for customers underserved by traditional insurers.
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After a second guide from Lloyd’s on Blueprint Two finally provided timescales for delivery, some firms remain uncertain on the details needed for preparation.
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"I want it to be almost embarrassing for Lloyd’s not to give us light-touch [status] because our results are so good,” CEO Brad Irick told this publication.
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The Lloyd’s Market Association said underwriters will now be physically present on Tuesdays, Wednesdays and Thursdays, either in the Lloyd’s Underwriting Room or their offices.
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The business will deliver legacy portfolio transactions for other Lloyd’s syndicates and be managed by Capita.
