The long goodbye…It has taken three-and-a-half years and triggered more false starts than an Olympic sprint final but tonight – finally – the EU and the UK say au revoir.
Lloyd’s extends silent cyber phase outLloyd’s has extended the process for underwriters to affirm or exclude cyber exposures from policies to as late as 1 July 2021 for classes that have been placed into a newly added phase four.
London broker start-up looks to Chesterfield and Guy Carp in hiring roundNewly formed Lloyd’s marine broker Lilley Plummer Risks has swooped on Guy Carpenter and Chesterfield for two notable hires, The Insurer can reveal.
Lloyd’s raises electronic placement target to 80%Lloyd’s of London has mandated that 80 percent of bound risks must be placed electronically, up from the 70 percent target it set for the fourth quarter of last year.
RenRe working with TigerRisk on major Lloyd’s legacy transactionBermudian (re)insurer RenaissanceRe has brought in TigerRisk to explore a large back-years deal for a circa £470mn ($615mn) casualty book for its Lloyd’s syndicate, The Insurer can reveal.
Securis edges closer to partial Lloyd’s exit despite loss deteriorationILS fund manager Securis Investment Partners’ unhappy experience with Lloyd’s edges closer to finality despite a further setback last quarter which delayed the potential sale of its so-called corporate members.
The OFAC dilemmaThe timing of insurance payouts for the Ukrainian International Airlines flight shot down by an Iranian missile is very much up in the air…
Lloyd’s names Crawford-Ingle audit committee chairLloyd’s has named former Beazley director Angela Crawford-Ingle as a board member and chair of the audit committee, effective immediately.
Chaucer names Wright CRO as Shaw steps downChaucer has appointed James Wright to the role of chief risk officer, taking over from Penny Shaw, who steps down having “successfully completed” the transition of Chaucer into parent company China Re.
Apollo names Moore deputy active underwriter of SPA 1971Apollo Syndicate Management has promoted Chris Moore to deputy active underwriter of Apollo’s special purpose arrangement (SPA) 1971 at Lloyd’s and head of its ‘ibott’ – which stands for “insuring businesses of tomorrow, today” – practice.
Carnegie-Brown calls for greater Lloyd’s access to India’s (re)insurance marketLloyd’s chairman Bruce Carnegie-Brown has called on India’s financial regulators to continue dismantling its protectionist stance over its (re)insurance market with the prize being lower premiums, greater competition and better products.
Hyperion says staff shareholders will soon exceed a thousand as it launches “sustainability” driveUK-headquartered intermediary Hyperion has kickstarted a major new initiative focused around “sustainability” which it says cover everything from growing its own employee shareholder base and independence to new product classes.
15-strong Vibe team land at Hannover Re’s ArgentaA 15-strong team of casualty, financial and professional lines underwriters from now defunct Vibe Syndicate are set to move to Argenta-managed Syndicate 2121.
Failed Skuld syndicate falls to £38.6mn Solvency II deficitThe two corporate members of defunct Skuld Syndicate 1897 – which are currently being marketed for sale after the Lloyd’s insurer went into run-off last year – had a combined £38.6mn ($50.2mn) Solvency II deficit by Q4 2019, The Insurer can reveal.
Hamilton Syndicate 3334 seeking £60mn LPTBermudian carrier Hamilton is understood to be negotiating a £60mn ($78.1mn) loss portfolio transfer (LPT) of its Lloyd’s syndicate 3334, The Insurer can reveal.
A hard act to followLloyd’s has had three underwriting tsars since it created the Franchise structure in response to the heavy market losses of 1998-2001.
Lloyd’s to expand PMD role for Hancock successorThe next performance management director (PMD) of Lloyd’s will have a broader range of responsibilities than the role Jon Hancock signed up to when he took the position in late 2016.
Hancock to step down as Lloyd’s PMDLloyd’s performance management director Jon Hancock is to step down from the position this year and leave the Corporation.
ArgoGlobal promotes international specialty and casualty pairArgo Group’s Lloyd’s syndicate, Argo Global, has promoted Jeremy Shallow to head of international specialty and Ross MacDonald as head of non-US international casualty.
Breach premiums in Gulf up 0.2 – 0.5 percent of hull valueMarine war premiums have jumped between 0.2 and 0.5 percent of the insured value of a vessel for transit through the Persian Gulf, as underwriters of the class respond to the escalating international disputes between the US and Iran.