Lloyd's
-
The vehicle has $2.55bn in capital committed by institutional investors. -
The move means Lloyd’s will have a new chairman and a new CEO in the same year.
-
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.
-
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.
-
Other capacity supporting the syndicate is mostly individual Names, sources have said.
-
It is targeting $25mn GWP this year and $50mn GWP in 2025.
-
Better performance data and clarity around entry are key, report says.
-
-
Evercore is leading the capital raise process and Aon is assisting with the Lloyd’s application process.
-
Reinsurers “weren’t getting paid” before 2023’s hardening, the Lloyd’s executive argued.
-
Latin America and the Caribbean accounted for 4.6% of GWP for Lloyd's in 2023.
