Lloyd's

Roughly $750mn of securities across 13 cells are available to institutional investors via London Bridge vehicles.

With plans to support three different types of Lloyd’s syndicates, the vehicle intends to trade under the new name London Innovation Underwriters by 15 November.

Lloyd’s CFO Burkhard Keese, speaking at Guy Carpenter’s Baden-Baden Symposium, said there are $500mn-$1bn of London Bridge deals in the pipeline.

The US could be exposed to economic losses of $1.1tn in the event of a cyberattack, the highest of any country.

The company said Ki is the first algorithmic underwriter to offer capacity from multiple syndicates.

The Corporation’s chairman said that Names and other third-party capital are essential to maintaining the market’s unique nature.

SCS accounted for nearly two-thirds of global first-half catastrophe losses.

The new SPA will write cyber reinsurance initially and could progress to writing insurance.

Financials Acquisitions Corp is looking to extend its merger deadline and raise “substantial” extra funds.

Howden Tiger worked on the structure of the deal with the unnamed syndicate.

Nephila Syndicate CEO Adam Beatty said that the firm hopes to grow its new specialty syndicate to $500mn of premium within the next few years.

At Trading Risk’s annual ILS conference, Lloyd’s CFO Burkhard Keese explained how the Corporation is working with the market to attract investors to participate in risk transfer across the Lloyd’s market.