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...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....
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...Its hallmark is a creative fusion between Spanish and Japanese cuisine. In some senses, this echoes the “sushi samba” genre that has already taken root in New York, imported from places such as Peru....
...He added that underwriters were increasingly asking potential clients questions such as whether their net zero strategy had been independently reviewed....
...Andrew Harrison-Sleap, head of the construction professional indemnity business at insurance broker Marsh JLT Specialty, said the publicity around Grenfell was putting insurers off....
...Martin Hallmark, a senior vice-president and lead analyst for Rolls-Royce at Moody’s, said there were still “downside risks around future cash flows including its delivery of cost-savings and the evolution...
...Grayer was most recently a senior executive at managing general underwriter Concord Specialty Risk....
...Underwriters are also unsure how to assess the new field....
...“We acknowledge we have . . . credit risk and liquidity risk, which are hallmarks of financial companies,” he adds....
...Moderniser who made diversity a priority When Inga Beale started out on her career in insurance 36 years ago, she was the only woman in a team of more than 30 underwriters....
...Brexit adds another layer of uncertainty as underwriters, faced with the loss of passporting rights from the UK capital, are setting up new bases in other parts of the trading bloc....
...“Underwriters need to consider cyber cover in this way and ensure that premium calculations keep pace with the cyber threat reality.”...
...Berkshire is a powerhouse in reinsurance and consumer policies – including through the car underwriter Geico – but until recently it has avoided the type of big ticket property and casualty cover that AIG...
...JLT said in a statement that it was “participating in this investigation and confirms that JLT Specialty is providing all appropriate assistance to the FCA”....
...Alastair MacLean, contingency underwriter at insurance agency Ark Syndicate, adds: “The growth in social media means that news and stories can spread very quickly....
...They love the Lloyd’s brand, the reputation, the expertise, the access to specialty business.” Ms Beale’s secretary soon pops her head around the door. “They’re here.”...
...Underwriters say that they had a surge in enquiries for political risk insurance after this summer’s market crash in China....
...Brit Insurance, a specialty insurer, and Coalfire, a corporate governance auditor, have launched cyber attack insurance cover for first-party property damage, business interruption, the cost of restoring...
...Berkshire Hathaway Specialty Insurance, the division which the renowned billionaire investor established last year to sell property, liability and other types of cover to companies, has been granted permission...
...However, unpredictability is a hallmark of Israeli business, meaning Mr Borgas — and the company he runs — will need to stay on their toes....
...For an M&A transaction, its specialty, where a client company it advised was sold for £1.98bn, its fee would be more like £6m or £7m....
...(Financial Times) “Goldman Sachs and other underwriters on Twitter’s IPO will share about $59.2 million for managing the sale after accepting one of the smallest fee rates for a U.S. IPO this year.”...
...Given these concerns, underwriters have told investors that the deal prices the company stakes at close to their market value....
...“Political violence was relatively non-existent in Kenya before 2007,” says Humphrey Mwangi, senior underwriter for ATI....
...“This deal was nothing to do with diversification from specialty lines for us,” he said. “In their core areas we already have underwriters and they only write £220m of business while we write £1.2bn.”...
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