Hagibis: Swiss Re, Lloyd’s carriers lead (re)insurance stock falls
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 to be more discerning about coverholders as it rebalances US business
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.
Carnegie-Brown to be chair of insurtech Cuvva
Lloyd’s chairman Bruce Carnegie-Brown has agreed to become chair of motor and travel insurance intermediary Cuvva.
Lloyd’s fights back in high profile investor dispute; claims liability exemption
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 plans large increase in Lloyd’s 2020 capacity
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.
MS Amlin cuts business classes in underwriting strategy overhaul
MS Amlin will exit a total of nine business lines and operations as part of parent MS&AD-led profitability drive.
LMG appoints Brady as delegated authority platform sponsor
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.