Lloyd's

The Lloyd’s chief of markets also highlighted inflationary risks as a trend of which to be aware for syndicates.

Business plans submitted for 2022 have set the market on track to generate a sub-95% combined ratio next year.

The Redicova product is led by Beazley with initial reinsurance from Axa XL, Hiscox and RenaissanceRe – all members of the Disaster Risk Facility at Lloyd’s

The cross-industry Insurance Task Force (ITF) working with Lloyd’s has launched a Disaster Resilience Framework for Climate-Vulnerable Countries, as part of its activities for the Prince of Wales’ Sustainable Markets Initiative (SMI).

The new London Bridge framework is less useful to the bulk of specialist ILS asset managers than it is end investors.

The Corporation’s CEO also warned that the increasing use of captives was “dangerous” for clients.

Stamp capacity for the “beta” syndicate is set to climb by 42% to £204mn.

The carrier will continue to write the business from Bermuda and the US.

The Corporation has given in-principle approval for the syndicate, which will have initial stamp capacity of £130mn.

Technology-enabled platforms could create a cost-effective, dynamic following market, panellists said.

Lloyd’s chief of markets Patrick Tiernan ruled out completely cutting out sources of energy relied on by certain communities.

The Zurich-based ILS manager expects to be underwriting some specialty business from 2022.