Hints and tips:
...Lloyd’s of London insurer Beazley said that cyber price rises “continue to exceed expectations” as it delivered a third-quarter update on Friday, even as the frequency of claims the FTSE 250 group receives...
...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....
...of the syndicates....
...After the move, it will retain an insurance company and two Lloyd’s syndicates in London....
...Lawyers say that Lloyd’s structure — it is a market composed of underwriting syndicates — poses challenges when it comes to setting up base elsewhere....
...Several well known insurers — including Munich Re, Ark Syndicate, Hiscox, Swiss Re, XL Catlin, Beazley, Talbot and Markel — now provide specialist cover, and underwrite the market....
...For insurers, the only routes into the market are to buy a rival already operating there or secure approval for a new syndicate from Lloyd’s itself....
...Instead, the difficulties for Lloyd’s, which comprises 96 underwriting syndicates, have come from weak premium and investment income....
...syndicates....
...The private equity backers of Brit Insurance have sought to woo investors to the flotation of the Lloyd’s of London syndicate by trimming their hoped-for price tag....
...They claimed the insurers – two syndicates operated by Beazley and one operated by Talbot at the historic Lloyd’s market – had refused to pay out based on “language and purported conditions that are not...
...The underwriter, which operates one of the biggest syndicates at the Lloyd’s of London market, cautioned on Friday the Costa disaster would cost it $51m, up from an earlier estimate of $35m....
...Hardy also said it had concluded a deal with a third party to provide 7.5 per cent of the capital for its Lloyd’s syndicate for its next two business years, starting in January, on which Hardy would earn...
...Three other sectors gaining attention are technology and telecommunications and Lloyd’s underwriting syndicates, such as Hiscox and Beazley....
...at Beazley, a Lloyd’s insurer....
...Premier Foods, Hammerson, Land Securities and Segro, and Lloyd’s syndicates Catlin and Beazley are also among the clutch of companies to stage cash calls in recent months....
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