Hints and tips:
...This month’s £242mn purchase of the Probitas syndicate will allow it to tap into what it said were the many brokers that prefer to place business via the Lloyd’s market....
...S&P Global downgraded Credit Suisse AG. We have taken very decisive steps....
...Insurers listed on an unredacted 2020 certificate include familiar names, such as AIG, Chubb, and syndicates from the Lloyd’s of London specialist market....
...at Lloyd’s of London....
...“At least three hedge funds have very actively gone short this morning, enabled by banks outside of the syndicate [of the IPO],” one banker involved told the FT. “The opening move was very sharp.”...
...Staffordshire, England Polymath 1,040: Patricia Blakemore, West Midlands, England Crossword 16,272: Martha F Browne, New York; Sean Putnam, Wellingborough, UK; Richard Cauman, Knoxville, US Polymath 1,039...
...Further fintech fascination New frontiers: Specialist insurer Brit has teamed up with Google to launch the first digital syndicate (or insurer) at Lloyd’s of London, reports The Insurer....
...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....
...“These losses are significant relative to peers and Lloyd’s annual earnings, and emphasise the market’s exposure to catastrophe risk,” S&P said in a statement....
...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....
...Patrick O'Sullivan, who has been chairman of FTSE 100 insurer Old Mutual since January 2010, and chair of motor insurer ERS (syndicate 218) at Lloyd’s, will take over from Andrew Goodsell in May....
...Keval Shah, head of bond syndicate at Lloyds Bank, said university real estate was “an obvious growth area”....
...Lloyd’s is a market rather than a business, so its results are a composite of how member insurance syndicates are doing. It’s a clubby place, exposed to criticism from outsiders concerning efficiency....
...Lloyds will syndicate part of the O2 loan, which includes a refinancing element for existing retail and leisure facilities at the site, while retaining a “large” interest....
...Meanwhile, the company’s recently established Lloyds Insurance “turnkey” operation has also launched its first syndicate. Charles Taylor’s insurance buying clubs have also been performing well....
...No submissions from agents, third parties, organised groups or syndicates will be accepted. No incomplete, corrupted entries or multiple entries from the same person will be accepted....
...Lloyd’s text is joined by the latest meadow thoughts from Fergus Garrett, who is now chief executive of the Great Dixter Charitable Trust....
...For investors, US top-tier debt remains attractive even as the S&P 500 index of stocks has touched all-time highs....
...Amtrak filed a legal action on September 17 against a series of its insurers – including Liberty Mutual, Aspen Specialty, Ace Bermuda, Arch Specialty, 12 others and several Lloyd’s of London syndicates –...
...They will want to know of Brit’s strategy to deal with insurance brokers cutting out smaller Lloyd’s syndicates....
...Wall Street syndicate desks underwrote at least 13 investment grade deals, including offerings from Viacom and Coca-Cola, in combined sales worth about $20bn....
...(Financial Times) OVERNIGHT MARKETS: DOWN Asian markets Nikkei 225 down -21.61 (-0.17%) at 12,327 Topix down -1.48 (-0.14%) at 1,039 Hang Seng down -29.44 (-0.13%) at 23,061 US markets S&P 500 up +5.04...
...Hopes of a cash return lifted Tesco as the FTSE 100’s rally extended into a third day....
...That is the happy position of a syndicate of banks distributing the £2.7bn initial public offering of insurer Direct Line....
...1036 at Lloyd’s of London, which insured the rig....
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