Hints and tips:
...The new syndicate was announced on the day of its full-year results, which confirmed its best underwriting performance since 2007....
...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....
...Probitas’s Lloyd’s underwriting syndicate has increased its annual premiums by a fifth every year since 2019, taking in £288mn in 2023....
...Lloyd’s chair Bruce Carnegie-Brown said the deal underlined the importance of face-to-face trading to the market, saying the underwriting room — a web of underwriters’ desks around the famous Lutine Bell...
...Financials Acquisition Corp had already cut the amount it was trying to raise from £500mn, citing the difficulty of getting a significant amount of money into Lloyd’s syndicates in time for the next underwriting...
...At the time, the company said this did not reflect investor sentiment but the difficulty of getting a significant amount of money into Lloyd’s syndicates in time for the next underwriting cycle....
...The chief executive of Lloyd’s of London, John Neal, told the Financial Times recently that he blamed the crisis at the NZIA, established in 2021, on “European thinking” that pushed all of its members into...
...White said the materials underlined the relationship between Lloyd’s and the African Company of Merchants, a key slave-trading venture, and revealed the role of several members of the governing committee...
...Hiscox chair takes plunge on results day Lloyds syndicate insurer Hiscox is benefiting from a grisly but favourable commercial environment....
...Blanc denied press reports that Aviva had considered launching a Lloyd’s of London syndicate and then U-turned. “We are still looking at all distribution channels,” she told the audience....
...The NZIA was one attempt to corral insurers around reducing the carbon footprint of their underwriting, but critics highlighted the lack of US members and that a ban on insuring coal was not a condition...
...Acknowledging that Lloyd’s does not require its own members to stop underwriting new oil and gas projects, he said this type of decision was best left to politicians and negotiators....
...The group includes a corporate member, or insurer, at Lloyd’s, that had £104mn of underwriting capacity last year, according to company accounts....
...“It would be naive to suggest there’s no risk of contagion [to other climate alliances],” said Simon Holmes, a member of the UK Competition Appeal Tribunal and visiting law professor at the University of...
...linked to their underwriting....
...However, Lloyd’s of London’s underwriting room will be kept open for business despite the government’s work from home guidance....
...Lloyd’s of London, a key insurance market for the energy sector, has also cited competition rules as a reason it cannot ban its underwriting firms from insuring carbon-heavy sectors....
...The group’s Lloyd’s of London syndicate, an insurance underwriter for areas including offshore energy, said last week it would stop underwriting a wider range of oil and gas contracts from January....
...The most jaw-dropping evidence so far came from the partner of the head of Lloyds Bank Pensions, who spilled the LBG beans — a “clear breach of confidentiality” according to the trade union....
...Filings show that syndicates within the market insured the pipeline as recently as 2020....
...The curtain is descending on Andrew Lloyd Webber’s work, with its 130 cast members, crew and orchestra, 230 costumes and 6,000-bead replica of the Paris Opera House light....
...Patrick Davison, underwriting director at Lloyd’s Market Association, which represents members of London’s Lloyd’s insurance market, said there were “clear opportunities” for the best-performing insurers...
...He said the signatories were a range of Lloyd’s syndicates, which are groups of members who pool capital and take on insurance risks....
...and harassing to female members of staff”....
...Lloyd’s — one of the last holdouts of in-person trading, the last refuge of wet ink stamps, paper policies and fountain pens — now cannot tempt its members back from their home office screens....
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