Hints and tips:
...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....
...The push for higher prices has also been fuelled by some of the biggest reinsurers, including the syndicates at Lloyd’s of London, deciding to cut back unprofitable lines of business....
...Lloyd’s text is joined by the latest meadow thoughts from Fergus Garrett, who is now chief executive of the Great Dixter Charitable Trust....
...Catlin was formed 30 years ago as a Lloyd’s underwriter and until 2003 it wrote all its policies through the historic London market, whose members club together through syndicates to insure big and complex...
...They will want to know of Brit’s strategy to deal with insurance brokers cutting out smaller Lloyd’s syndicates....
...In the UK, Lloyds TSB put down $21.9bn to take over HBOS....
...This is no rubber-stamp: according to Lloyd’s, about 40 per cent of plans are subject to “detailed conversations” with syndicates about the risks they’re running....
...The statement comes a day after S&P, the ratings agency, warned some of the syndicates could go out of business following the devasting storms that halted oil production and killed hundreds of people in...
...While down from 2003’s £1.89bn, because 2004 was the worst year on record for natural catastrophe payouts, it still means that a typical Lloyd’s name, underwriting £1m of business and putting up a 40 per...
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