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...Lloyd’s of London has attracted its biggest syndicate backed by individuals, or “Names”, since the early 1990s, as the insurance market looks to rebuild a base among private investors after its best performance...
...— in Lloyd’s and the so-called company market that surrounds it....
...MS Amlin, one of the biggest Lloyd’s of London insurers, plans to expand in areas such as marine cover and liability insurance after spending three years repairing its underwriting profit margins....
...But at a private event last month, one executive at the corporation that oversees the market told underwriters that it has not yet seen clear evidence that a warming climate is a major driver in claims costs...
...Michelle Wiese Bockmann, an analyst at Lloyd's List, said: “This presents serious environmental and safety risks in key chokepoints where Russian oil is shipped — including through Denmark’s waters and the...
...These included a failure to properly recognise non-character letters such as full stops, and meant names in certain formats could be missed....
...Several industry veterans told the Financial Times that Ki, a digital insurer in the Lloyd’s of London market that provides insurance cover to businesses, had increased awareness of the benefits of automation...
...Lloyd’s of London — the world’s oldest insurance market — acquired a reputation for inefficiency, complacency and boorish behaviour. Yet last year’s performance was the best for 16 years....
...Lloyd’s of London has delivered its best underwriting performance since 2007 and signalled that commercial insurance prices are likely to stay high in the coming years....
...Last month Japanese insurer Mitsui Sumitomo said it would increase its underwriting capacity at Lloyd’s and the wider London market that surrounds it....
...The regulator also wants to make greater use of reinsurance markets, and aims to encourage investors to put more money into EU insurance-linked securities — such as catastrophe bonds, which pay out for certain...
...Insurance group Zurich has accused financier Lex Greensill, steel magnate Sanjeev Gupta and certain of their companies of a “conspiracy” to deceive its underwriters and create sham debts....
...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...
...Analysts at RBC Capital Markets have estimated the car financing problems, which have echoes of the payment protection insurance scandal, could cost Lloyds £2.5bn, more than any of its rivals....
...Howden, the UK insurance broker, has secured £500mn of insurance capacity from a group of Lloyd’s of London firms for a newly launched division that aims to turn tech start-ups into mini underwriters....
...LIU had intended to use the funds to invest in Lloyd’s of London, the world’s oldest insurance market....
...certain and came in at a lower value....
...Automation has crept into the so-called “follow” market at Lloyd’s, which is when insurers take a later tranche of the risk on a particular policy....
...The pledge comes three years after the insurance market apologised for its role in the trade, which included extending crucial insurance to voyages and even insuring slaves as cargo....
...Such an attack could cause $3.5tn in global economic damage, according to modelling by the Cambridge Centre for Risk Studies for the Lloyd’s of London insurance market, released in October....
...While these measures have had some success in certain areas, they have clearly failed to accomplish the crucial objective of keeping growth companies at home....
...For a company quoted on London’s Aim, running costs — including RNS announcements, brokers and exchange fees — are typically at least £200,000 a year....
...“It’s a good example of some IPOs — a fantastic payday for certain people and it can often be a bit damaging for the company when they have to pick up the pieces and deal with the consequences,” Hyman said...
...The board said on Thursday that these offers had been “less certain, and at a lower value” than the agreed Concord Chorus offer....
...Publicly listed water companies have been more insulated from the market jitters, however, with the spread — or extra yield above government debt — on a €650mn bond at United Utilities rising less than 15...
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