DEI
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CEO Wagstaff said the LMG must "compete with other markets". -
The two associations will work together on six matters, including climate change, cyber risks and taxation.
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The move is a response to growing focus on diversity issues from allocators and regulators.
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The regulator is also reviewing Solvency II post-Brexit.
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Part of the solution to lowering costs at Lloyd’s could be more employment of ILS, said Michael Wade, non-executive chairman at TigerRisk.
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The MGA was launched by former BMS CEO Carl Beardmore in October last year.
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News of Beale's departure comes a year after former Marsh Europe CEO Bruce Carnegie-Brown became chairman of the 330-year-old market.
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Munich Re has provided Israeli insurer I.D.I Insurance with a "cat in the box" reinsurance cover, in the first parametric transaction closed in the region.
