Hints and tips:
...After three separate pandemic interruptions, insurance brokers and underwriters are gradually returning to the distinctive inside-out building at 1 Lime Street that Lloyd’s has called home since 1986....
...Trading at Lloyd’s has been boosted by 15 consecutive quarters of rising insurance prices....
...Brokers and underwriters in other insurance centres simply visit each other in their offices or work via phone and email....
...Last year XL bought Catlin for about £2.8bn, the largest-ever takeover of a Lloyd’s underwriter, while Fairfax Financial, also based in Toronto, agreed to buy Brit....
...When Brit, which Mr Wimbridge works for as an underwriter, installed its new furniture at Easter, rivals were aghast that one of their number had broken the mould....
...In Australia, where it launched in May, Suncorp is the underwriter....
...Alastair MacLean, contingency underwriter at insurance agency Ark Syndicate, adds: “The growth in social media means that news and stories can spread very quickly....
...Accidents at oil platforms in Mexico and Brazil, the crash of a Germanwings aircraft in the Alps and the burning up of a communications satellite over Siberia took total insurance claims for the Lloyd’s...
...“Sixty per cent of all art claims are works in transit, in some size, shape or form,” says Rupert Onslow, an art underwriter at The Channel Syndicate, a specialist insurer at Lloyd’s....
...Traditionally, the risks of complex policies written at Lloyd’s have been divided between several underwriters....
...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....
...Capacity at Lloyd’s is owned either by syndicates of individuals, known as Names or by companies. These include Brit Insurance, Lancashire Holdings. Insurance is hardly exciting, but it is profitable....
...Brit Group has completed its transformation from diversified insurer to a specialist Lloyd's of London underwriter by disposing of its remaining UK general insurance business for about $300m....
...on a deal to buy Brit Insurance....
...Late last year, I went to see Gary Tredgett, the underwriter for Ascot, the Lloyd’s syndicate that leads the dozens of insurers involved in the Tonbridge loss....
...There it was even more broad because we’d do certain investment linked things in terms of the insurance derivatives....
...Lancashire could also aspire to raise capacity in certain areas of the market, such as offshore energy, after underwriters across the insurance and reinsurance market face more than $2bn of offshore losses...
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