Lloyd's
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The carrier has used Lloyd’s London Bridge 2 structure for the launch. -
The top quartile, which includes Nephila 2357, were set to shrink overall.
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Lloyd’s has taken around 6% of aggregate US hurricane losses in recent years, and disclosed estimated net losses from Helene and Milton of $1.8bn to $3.4bn.
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Other capacity supporting the syndicate is mostly individual Names, sources have said.
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It is targeting $25mn GWP this year and $50mn GWP in 2025.
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Better performance data and clarity around entry are key, report says.
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Evercore is leading the capital raise process and Aon is assisting with the Lloyd’s application process.
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Reinsurers “weren’t getting paid” before 2023’s hardening, the Lloyd’s executive argued.
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Latin America and the Caribbean accounted for 4.6% of GWP for Lloyd's in 2023.
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The syndicate has appointed former Munich Re active underwriter Stuart Newcombe.
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The syndicate snatched the number one spot from Chaucer’s Syndicate 1176.
