Hints and tips:
...for certain policies and digital triaging of broker submissions plus automation of certain tasks for others....
...At the time, a senior Lloyd’s executive said the move was “responsible” and preferable to waiting until “after everything has gone wrong.”...
...Lloyd’s of London has agreed with its landlord Ping An to stay at its One Lime Street headquarters until at least 2035, in a mark of commitment to in-person trading at the heart of the City’s insurance district...
...Catastrophe bonds work like normal bonds in that they give investors interest payments — typically at a floating rate in this market — and hand back the principal at maturity....
...Keese predicted that the market’s “reinsurance to close” mechanism at Lloyd’s — where underwriting books are effectively closed after three years and reinsured — would allow other areas of property & casualty...
...At the time, the company said this did not reflect investor sentiment but the difficulty of getting a significant amount of money into Lloyd’s syndicates in time for the next underwriting cycle....
...Beale, who attempted to improve the culture at Lloyd’s in her five-year tenure — a market where she has previously said junior female underwriters would be called “box bunnies” and “box bitches” — called...
...Based on long experience, the bank syndicate desks know they can allocate only a certain percentage of a hedge fund order....
...But with very few exceptions (such as certain regulated utilities) institutional investors don’t value companies based on dividend yield, at least not as a primary metric....
...insurance policies at the underwriter’s desk, or “boxes” as they are traditionally called....
...Overlaps have a mixed history at Lloyd’s: in the so-called LMX spiral in the late 1980s, the practice of Lloyd’s syndicates reinsuring each other on the same risk spectacularly blew up after a series of...
...Lloyd’s, a marketplace where brokers and underwriters meet to buy and sell commercial policies, has recently moved to attract more outside capital....
...The FT revealed on Thursday that Lloyd’s of London’s historic underwriting room would be kept open for business to allow brokers and underwriters to work in person during the crucial December renewal season...
...It is much more preferable to cream fees as sole bookrunner on a $2.25bn best-efforts stock offering than to sweat bullets as one of several underwriters with capital at real risk....
...Underwriters have defended the new guidance as an attempt to bring clarity to what is, in insurance terms, still a relatively young market: the first cyber policy written at Lloyd’s was in 1999....
...The group’s Lloyd’s of London syndicate, an insurance underwriter for areas including offshore energy, said last week it would stop underwriting a wider range of oil and gas contracts from January....
...Earlier this month, Lloyd’s of London issued a bulletin noting that, “when writing cyber attack risks, underwriters need to take account of the possibility that state backed attacks may occur outside of...
...Musk can syndicate the $33.5bn of his own funding however he likes....
...industry body Lloyd’s Market Association....
...India granted permission for ships to enter its ports covered by certain Iranian underwriters. Iran has its own P&I insurer, Kish, created as western insurers pulled back....
...For a while, working at First Boston carried a certain cache akin to Goldman or Morgan Stanley....
...Shares at Lloyd’s underwriters such as Lancashire and Beazley — specialists in exposed areas such as war and political risk — have fallen sharply in recent weeks....
...the box in Lloyd’s, in our office or at home”....
...Lloyd’s is in talks with these underwriters over their 2022 business plans....
...Graeme Newman, chief executive at cyber underwriter CFC, thinks they will need to be on their guard: “I suspect we will see an increase in criminal activity at some point, as sanctions continue to starve...
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