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Beazley’s Cox: Climate litigation risk “rising issue” in D&O

Rising climate litigation risk is prompting D&O underwriters to consider how it will impact their portfolio, including building “greenwashing-realistic” disaster scenarios and monitoring global climate litigation trends, according to Beazley CEO Adrian Cox.

Carnegie-Brown apologises again for Lloyd’s slavery role as new research is published

Lloyd’s has again apologised for its historic role in slave trading as it launched a new ~£52mn programme supporting black and other minorities in the insurance professions.

Helios net assets increase by 11.9% following Lloyd’s auctions

Lloyd’s investment fund Helios says its net asset value has improved by 11.9 percent following the recent uptick in the value of capacity on Lloyd’s syndicates.

Atrium maintains Syndicate 609’s 2021 YoA forecasts despite Russia uncertainty

Atrium has maintained its profit forecasts for Syndicate 609’s 2021 year of account, while acknowledging continued exposure to potential claims as a result of western aircraft trapped in Russia following the invasion of Ukraine.

QBE 386 sees 2.9 point deterioration on 2021 YoA forecast

QBE Syndicate 386 has reported a 2.9 percentage point deterioration at the midpoint in its latest quarterly forecast for the 2021 year of account.

Beazley's Cox lauds “freedom” of NA E&S market

Beazley’s share price rose 4.5 percent in early trading after Lloyd’s largest insurer unveiled a 9 percent increase in written premiums to $4.33bn for the first nine months of 2023.

Argenta appoints Davidson to lead new energy transition offering

Argenta Syndicate Management Limited has promoted Edward Davidson to the newly created role of energy transition technology underwriter.

Ark posts improved 81% CR in Q3

White Mountains-backed Ark has reported a combined ratio of 81 percent for the third quarter of 2023, while its gross written premiums increased more than 15 percent year on year from $216mn to $250mn.

Verlingue rebrands London market operation

UK broker Verlingue has rebranded specialist Lloyd’s and London market wholesale broker NBJ London Markets to Verlingue London Markets, with former Jensten Group MD Barry Reynolds named executive director of the unit.

MIC Global submits much-reduced 2024 SBF following Oct walk-outs

Lloyd’s start-up MIC Global has submitted a syndicate business forecast for Syndicate 5183 with a substantial reduction in forecast revenues after the exit last month of its two most senior underwriting executives together with its head of claims, The Insurer can reveal.

Brit sees 7.9% top-line contraction

Fairfax Financial-owned Brit Insurance has seen a 7.9 percent decrease in its net written premiums in the third quarter of 2023, down to $780.6mn compared to $847.7mn in the prior-year period.

Only £14.3mn tendered on first day of Lloyd’s final capacity auction

The first day of Lloyd’s third and final capacity auction has seen £14.3mn ($17.4mn) of capacity tendered for sale, down £4.5mn on the volume from the second week’s first day.

Gallagher Re pens exclusivity deal with veteran Lloyd’s analysis team ICMR

Gallagher Re has reached an exclusivity agreement with Insurance Capital Markets Research, in a deal which further bolsters the reinsurance intermediary’s analytics and capital markets offering, The Insurer can reveal.

MAP 2791 sees 1.5 point improvement on 2021 YoA forecast

Managing Agency Partners has reported a marginal 1.5 percentage point improvement at the midpoint in its latest quarterly forecast for the third-party capital-backed Syndicate 2791 for the 2021 year of account.

Lloyd’s Asia premiums set to top $1bn for first time in 2023

Lloyd’s Asia is set to grow its premium volume beyond $1bn for the first time this year, according to Tokio Marine Kiln’s Asia Pacific regional managing director Pavlos Spyropoulos.

TMK aims to double size of Lloyd’s Asia portfolio

Tokio Marine Kiln is aiming to double the premium written through its Lloyd’s Asia operation in Singapore by 2027 as part of an ambitious growth drive under Asia Pacific regional manager Pavlos Spyropoulos.

Brit CUO Christiern Dart to step down

Brit’s group chief underwriting officer Christiern Dart is to step down from his position after 17 years of service at the Fairfax Financial-owned carrier.

LIU scales back fundraising to £300mn for new listed Lloyd’s investment fund

London Innovation Underwriters, the Lloyd’s investment fund launched by special purpose acquisition company Financials Acquisition Corp, has confirmed plans to scale back its fundraise to a maximum of £300mn ($365mn).

Beazley names Westinghouse corporate head of strategy

Lloyd’s largest insurer Beazley has appointed Brenna Westinghouse as its corporate head of strategy.

McGovern and Johnson elected to Lloyd’s Council as Brooks and Carter retain seats

Lloyd’s has confirmed the elections of Sean McGovern and Marcus Johnson to its Council membership, as well as the re-election of Andrew Brooks and Vicky Carter as working members.

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