Specialist motor-only Lloyd’s syndicate ERS has booked a £5.6mn profit in the first half of the year as its combined ratio fell well below 100 percent.
Lloyd’s managing agencies overwhelmingly support ILS becoming a permanent fixture within the Corporation, a survey by the LMA has found.
A league table of those to take up the London market E-placing platform, PPL, will be published next quarter as the penal regime begins for Lloyd’s adoption.
ILS giant Nephila has been given the green light to set up its own managing agency after a meeting of the Lloyd’s franchise board.
Lloyd’s is currently reviewing its managing agents’ Q2 submissions for electronic placements which, for the first time, must meet mandated target levels with a threat of fines and even a five percent capital loading.
Lloyd’s determination to close down underperforming classes of business or even syndicates has been highlighted today with the news that the loss-making Lloyd’s insurer Advent Capital Holdings is likely to go into run-off following a strategic review.
Lloyd’s has formally begun the search for Inga Beale’s successor as the Corporation’s CEO by appointing a different executive recruitment firm than its usual headhunting duo of Odgers Berndtson or the Zygos Partnership, re-Insurance.com can reveal.
Outgoing Lloyd’s CEO Inga Beale has said she is eyeing a final “big” executive role after she steps down from her position at the helm of the market next year.
Markel has appointed Tom Simpson as a war and terrorism underwriter.
Credit Suisse’s Lloyd’s platform, Arcus 1856, has announced a series of internal promotions and the appointment of an interim lead underwriter following recent senior departures.
Irfan Haq, the chief financial officer of satellites-to-cyber risk modelling and MGA firm Sciemus is to follow the underwriter’s CEO to the exit, re-Insurance.com understands.