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The cross-industry Insurance Task Force (ITF) working with Lloyd’s has launched a Disaster Resilience Framework for Climate-Vulnerable Countries, as part of its activities for the Prince of Wales’ Sustainable Markets Initiative (SMI). -
Julia Tyson, chief human resources officer (CHRO) at Lloyd’s, is to depart at the end of the year.
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The body’s remit will include governance of the core data record – a crucial element of the Blueprint Two reforms at Lloyd’s.
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The new London Bridge framework is less useful to the bulk of specialist ILS asset managers than it is end investors.
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Plus the latest impact of cat activity on reinsurer results and all the top news from the week.
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The CEO is signalling to the market, investors and the rating agencies that Lloyd’s has turned a corner.
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The Corporation said it planned to transition its £3bn ($4.1bn) Central Fund to net zero by 2050 by redirecting capital flows to green investments.
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The significant pre-emption is predominantly driven by the transfer of a reinsurance book from the carrier’s UK platform to Lloyd’s.
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Stamp capacity for the “beta” syndicate is set to climb by 42% to £204mn.
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The Corporation’s CEO also warned that the increasing use of captives was “dangerous” for clients.
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The syndicate writes most of its premium in US dollars, and the approved plan will see a 9% GWP uplift on a like-for-like basis.
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Lloyd’s also highlighted its desire not to become the “market of last resort” for carbon-intensive companies.
