Lloyd’s has announced it is developing a “virtual” underwriting room, which could eventually be used alongside the physical room at 1 Lime Street, as part of the market’s response to Covid-19.
Despite being placed into run-off in January 2020 following a volte-face by owner AFG and the subsequent failure of restart talks with UK PE firm Alchemy Partners, up-for-sale Lloyd‘s insurer Neon is still being marketed as a potential live underwriting platform with prospective buyers.
Beazley intends to grow its newly split out market facilities business to write circa $1bn in gross written premium with the Lloyd’s blue-chip retaining 10 percent of premium, according to investment bank Jefferies.
Lloyd’s insurer Brit has entered into the high net worth (HNW) insurance market with the launch of a private client business.
Bermudian carrier RenaissanceRe has returned to the legacy market, once again seeking an adverse development cover (ADC) for a circa £470mn ($579.8mn) casualty book written through its Lloyd’s syndicate, The Insurer can reveal.
Lloyd’s has forecast that non-third party backed syndicates will post a worst-case scenario loss of £808.7mn ($995mn) in the aggregate for the 2019 year of account (YoA).
QIC Global-owned Antares has appointed Martin Campbell as head of specialty at Antares Syndicate 1274, London.
RenaissanceRe has appointed Ed Cruttenden active underwriter of Syndicate 1458 at Lloyd’s, replacing Bryan Dalton who has been appointed chief underwriting officer – Europe.
Munich Re Syndicate has appointed Natasha Jodrell deputy chief underwriting officer and as a member of its executive committee, taking over from Simon Parnell who is entering retirement.
Arch Insurance International, the international and Lloyd’s arm of Arch Capital Group, has promoted James Croome to active underwriter of Arch Syndicate 2012 while Marie Biggas has been named deputy active underwriter.
Lloyd’s managing agency WRB Underwriting has appointed Sarah Reeve, Dan Black and Olly Durell as senior underwriters in its property division.