Hints and tips:
...This month’s £242mn purchase of the Probitas syndicate will allow it to tap into what it said were the many brokers that prefer to place business via the Lloyd’s market....
...Markets are very volatile....
...Only Goldman Sachs’s Lloyd Blankfein decided to leave of his own volition when he handed the reins to David Solomon in 2018 after 12 years in the top job....
...Insurers listed on an unredacted 2020 certificate include familiar names, such as AIG, Chubb, and syndicates from the Lloyd’s of London specialist market....
...at Lloyd’s of London....
...“At least three hedge funds have very actively gone short this morning, enabled by banks outside of the syndicate [of the IPO],” one banker involved told the FT. “The opening move was very sharp.”...
...Further fintech fascination New frontiers: Specialist insurer Brit has teamed up with Google to launch the first digital syndicate (or insurer) at Lloyd’s of London, reports The Insurer....
...Lloyd’s, the last big financial market in London owned by members is restructuring. One push is to force syndicates to cut out their least profitable lines....
...The push for higher prices has also been fuelled by some of the biggest reinsurers, including the syndicates at Lloyd’s of London, deciding to cut back unprofitable lines of business....
...“These losses are significant relative to peers and Lloyd’s annual earnings, and emphasise the market’s exposure to catastrophe risk,” S&P said in a statement....
...Patrick O'Sullivan, who has been chairman of FTSE 100 insurer Old Mutual since January 2010, and chair of motor insurer ERS (syndicate 218) at Lloyd’s, will take over from Andrew Goodsell in May....
...Keval Shah, head of bond syndicate at Lloyds Bank, said university real estate was “an obvious growth area”....
...Lloyd’s is a market rather than a business, so its results are a composite of how member insurance syndicates are doing. It’s a clubby place, exposed to criticism from outsiders concerning efficiency....
...Lloyds will syndicate part of the O2 loan, which includes a refinancing element for existing retail and leisure facilities at the site, while retaining a “large” interest....
...Meanwhile, the company’s recently established Lloyds Insurance “turnkey” operation has also launched its first syndicate. Charles Taylor’s insurance buying clubs have also been performing well....
...Lloyd’s text is joined by the latest meadow thoughts from Fergus Garrett, who is now chief executive of the Great Dixter Charitable Trust....
...The syndicate desk at RBS Securities expects investment grade debt issuance of between $100bn and $125bn during September, with European financials looking at the dollar market for funding diversification...
...Having sold the remainder of Brit’s UK general insurance arm for about $300m in 2012, the group writes only specialist corporate insurance and reinsurance, through its syndicate at the Lloyd’s market....
...(Financial Times) Private equity backers, Apollo and CVC, set for healthy return on Brit Insurance: The Lloyd’s of London insurer on Tuesday pushed the start button on the City’s latest stock market debut...
...(Financial Times) OVERNIGHT MARKETS: DOWN Asian markets Nikkei 225 down -21.61 (-0.17%) at 12,327 Topix down -1.48 (-0.14%) at 1,039 Hang Seng down -29.44 (-0.13%) at 23,061 US markets S&P 500 up +5.04...
...Hopes of a cash return lifted Tesco as the FTSE 100’s rally extended into a third day....
...That is the happy position of a syndicate of banks distributing the £2.7bn initial public offering of insurer Direct Line....
...The company made $1.63bn net profit against 2009’s $1.42bn net loss, on revenue up 36 per cent to $14.3bn....
...Higher quality debt issues now in favour include bonds from the Lloyd’s insurance syndicate Amlin, maturing in 2026, which pay 8.6 per cent, and the 10-year issues from tobacco company Altria, which yield...
...Lloyd’s, a number of years ago, probably contemporaneous with about when Rolf started, decided we had purchased a lot of reinsurance and that amount of reinsurance that most syndicates and agencies purchased...
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