Lloyd’s third-party backed syndicates remain on course for narrow 2020 YoA loss
Lloyd’s saw an aggregate deterioration of 0.6 percent of capacity at the midpoint of forecasts for the 2020 year of account (YoA) during the second quarter, driven by the impact of the challenging investment environment.
Premia’s LPT with Hiscox takes Lloyd’s reserves assumed to ~$1.7bn
Premia’s loss portfolio transfer (LPT) with Hiscox Syndicate 33 marks the run-off carrier’s fourth major transaction at Lloyd’s since acquiring its managing agency and syndicate in March 2020.
European Q2 results: winners and losers
With the release of Zurich’s results last Thursday, the Q2 earnings season for European (re)insurers has drawn to a close. The Insurer’s analytics team looks at the winners and losers, comparing reported figures against market expectations and also examining other health factors.
Pool Re launches consultation over move to treaty model
UK terrorism mutual Pool Re has launched a consultation with its members about moving its reinsurance scheme to a catastrophe treaty reinsurance model, a move CEO Tom Clementi said would return more risk to the private market and drive greater awareness and penetration of terrorism cover.
Beazley’s Smart Tracker gets Lloyd’s approval to become full syndicate
Beazley’s Smart Tracker Syndicate 5623 has received in-principle approval from Lloyd’s to transition from its current special purpose arrangement (SPA) model into a full market-facing syndicate.
Probitas 1492 targets 22% stamp increase for 2023 following H1 profit surge
Probitas 1492 plans to lift its stamp capacity by 22 percent in 2023 on the back of an 86 percent increase in underwriting profit in the first half of the year, with the Ash Bathia-led Lloyd’s insurer becoming the latest syndicate to add double-digit headroom to its plan for next ...
Ocean Re begins European expansion with Oceva Risk acquisition
Barbadian reinsurance carrier Ocean International Reinsurance Company has acquired Oceva Risk Solutions, a London market-facing provider of capacity solutions in the UK, Europe and internationally.
Global Risk Partners acquires Prescott Jones
UK broker consolidator Global Risk Partners (GRP) has continued its run of recent M&A activity with a deal to acquire commercial broker Prescott Jones.
Coverys brings in Sibthorpe as CEO of managing agency
Coverys Managing Agency has appointed Mike Sibthorpe as CEO with the executive replacing Rob Forster at the helm.
Talbot AIG marine hull exits continue with Carpenter and Ewen
AIG’s Lloyd’s platform Talbot has seen two further departures from its marine hull unit, with senior class underwriter Edward Carpenter and class underwriter Benjamin Ewen having tendered their resignation in recent days, The Insurer can reveal.
Atrium appoints Laidlaw active underwriter as Drysdale moves to advisory role
Lloyd’s specialist insurer Atrium Underwriters has appointed Peter Laidlaw as active underwriter of Syndicate 609, effective 1 January 2023.
Lloyd’s Lab’s Gaze to become Innovative Risk Labs CEO
Former Lloyd’s Lab head Ed Gaze is to join Innovative Risk Labs as CEO next month.