Specialty (re)insurer Chaucer has received approval to grow the stamp capacity for Syndicate 1084 by 11.1 percent for 2025, making it one of the few Lloyd’s syndicates with capacity of £2bn ($2.5bn) or more, The Insurer can reveal.
Lloyds
Bitcoin specialist AnchorWatch secures Lloyd’s capacity ahead of December launch.
Lloyd's is consulting staff on proposals to restructure its data and operations departments under a new organisational model that will result in some roles being outsourced.
Annex has secured Lloyd’s coverholder status in a move that will allow the flood-focused insurtech MGA to bring a new surplus lines private flood offering for residential properties to market.
Lloyd’s chief of markets Patrick Tiernan has returned to work at 1 Lime Street after taking a leave of absence to undergo spinal surgery.
Lloyd’s 1.1 reinsurance start-up Oak Re Syndicate 2843 expects to write in the region of $300mn GWP in its first year as the business continues to build out its executive and underwriting teams,
Cincinnati Global Syndicate 318 has received Lloyd’s approval to maintain its stamp capacity at £375mn ($488.48mn) for the 2025 year of account, according to a Lloyd’s auction season 2024 disclosure.
South African insurer Santam is on the hunt for an adviser to lead the build-out of its London/international platform and is engaging with Lloyd’s on the launch of a syndicate,
Stonybrook Capital has estimated insured losses from Hurricane Milton at between $30bn and $50bn, warning the full extent of industry impacts will be slow to emerge.
Digital micro insurance provider MIC Global has said it intends to become a Lloyd’s coverholder of Greenlight Re’s Syndicate 3456, in a move designed to leverage both firms’ collective resources to drive greater innovation at Lloyd’s.
Lloyd’s insurer Aegis London has launched a $25mn mine rescue insurance consortium, with participation from Brit, IQUW, Hampden and Abbot.
More than half of the Lloyd’s market by premium share (51.2 percent) is yet to publicly adopt underwriting restrictions for new coal projects, with activist group Reclaim Finance calling on all managing agents to adopt guidelines on new fossil fuel infrastructure by 1 January 2025.
Africa Specialty Risks Ltd (ASR) is now operating as a Lloyd’s service company and can underwrite on behalf of ASR Syndicate 2454.
Richard Brindle, CEO of the Fidelis Partnership, has voiced sharp criticism of the Lloyd’s follow market model, expressing concern over the reliance on capacity without the benefit of proper underwriting judgement.
