Swiss Re – the largest Japanese reinsurer by market share – and the three-remaining listed Lloyd’s carriers have fallen between 2-4 percent today following the devastation wreaked by Typhoon Hagibis in Japan over the weekend.
Lloyd’s will put the market’s US coverholder book under much closer scrutiny as it looks to better identify strong delegated authority underwriters and push away underperformers, according to CEO John Neal.
Lloyd’s chairman Bruce Carnegie-Brown has agreed to become chair of motor and travel insurance intermediary Cuvva.
The Society of Lloyd’s has denied allegations that it misled a prominent Lime Street investor into believing he could temporarily switch his unlimited liability status, in a dispute which could test the exemptions of liability enjoyed by the market’s ruling body.
Hiscox Syndicate 33 has proposed to raise its stamp capacity by more than a fifth, or £300mn ($372mn), next year to a total of £1.66bn, as the blue-chip carrier responds to rising rates and a weakening pound.
The London Market Group has announced that Lloyd’s head of policyholder and third-party oversight, Paul Brady, will assume the role of market sponsor for the delegated authority efficiency drive at Lloyd’s.