Lloyd's
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Announcements and interviews at the UN conference have shed light on the tools emerging to help carriers decarbonise their underwriting portfolios. -
The market share for the storm of 3%-5% is below syndicates’ historical average for US wind events.
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The Gulf Coast state is keen to distance itself from Florida’s insurance woes but is resistant to some underlying changes.
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New flexibility will enable top-performing syndicates to raise cat exposures under the Lloyd’s LCM 5 framework, without a penal increase in the required capital.
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The Lloyds-centric reinsurer has become a signatory member of the Standards Board for Alternative Investments.
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The loss portfolio transfer reinsures around $116mn of the group’s share of Syndicate 33 reserves from between 1993 and 2018.
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Business will be written directly into Syndicate 5623 from 1 January 2023.
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The move would enable the Lloyd’s ILS platform to access investors with lower risk-return appetites after launching with quota share options only.
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Lloyd’s said it did not expect the majority of syndicates to be impacted by the change
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Ahead of a market message on 2023 business plans, Lloyd’s has set out early expectations on inflation, ESG and management of cat volatility.
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Lloyds and London "a little bit missing" in enabling creative dialogue'
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Lloyd’s CFO and COO Burkhard Keese told delegates at the London ILS 2022 Conference that the platform’s scope will widen beyond quota share structures.
