TMK
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TMK Syndicate 510’s profits fell by 31% in 2022, a decline it attributed to £55.86mn in unrealised losses from investments.
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Names voted overwhelmingly in favour of the combination.
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A leaked document also details the rationale for the planned combination of syndicates 510 and 557.
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Aviation head David Slevin continues to build out his team with Robert Lilley appointment.
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There will be significant movements in the ranks of the top 10 syndicates in 2021, with Brit moving into second place and Axa XL tumbling to 7th.
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The new Syndicate 1796 is the conduit for the initiative and is backed by 14 global (re)insurers.
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The syndicate will have a stamp capacity of £1.5bn ($1.9mn) for 2021.
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Elliott Goss will become the group’s head of claims from 17 August and be based in London.
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The new claims chief has over three decades’ experience and has worked at TMK since 2012.
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Neal highlights “urgent responsibility” for market to address racial bias as the African-Caribbean Insurance Network draws up six steps for racial inclusivity.
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The success of remote working is prompting businesses to rethink how the London market will operate post lockdown.
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The executive outlines the progress made on performance and culture at the firm after a challenging 12 months.
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Ifeanyi Okoh had filed a complaint against the firm alleging harassment and discrimination.
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The syndicate has undergone extensive remedial work but also benefited from lower cats and substantial reserve releases.
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James Dover takes the Adeptive CEO role, with Jeff Bright CUO and Chilton non-executive partner.
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The carrier says its Cyber Ctrl PD+ policy marks a response to cyber risk retrenchment in the property market.
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(Re)insurance executives gathered in EC3 this week for the Insider London conference.
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The former HCC CFO said more focus was needed on the bottom line, along with expense management.
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Sources said carriers will likely need OFAC approval to make liability payments to Iranian families.
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Concerns have arisen over how payment may be split if the aircraft’s black box is not recovered.
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It is unclear whether the loss will fall on the airline’s all-risks policy or war policy.
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The executive’s departure after 11 years at the helm of TMK was first announced in September.
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A lower catastrophe burden buoys group profit but anticipated reserved strengthening prompts it to trim its full-year forecast.
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The former Chubb global markets president fills the post left vacant by Paul Culham.
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