Lloyd's

The London Corporation could offer accredited investors the chance to participate in specific risks.

What does it say about the insurance market that for every new fund or facility that is launched as a passive or index tracker-style initiative, it seems that another existing one is unwound?

Lloyd's was at “a pivotal moment” in its history, said CEO John Neal.

The fund manager invested in ordinary shares of the fund, exposed to losses from 2017.

The exit comes ahead of Lloyd’s closure of SPA 6129.

Property treaty underwriter Nicholas James will be joining the Credit Suisse-backed syndicate in April next year.

The Lloyd’s business planning process is drawing to a close after a difficult year for London syndicates.

The former XL Catlin chief operating officer is taking on an advisory role at the start-up which is developing a trading platform for (re)insurance risk.

The 2019 business plan for ILS-backed Arcus Syndicate 1856 includes an increase in capacity for property insurance.

More than a dozen Lloyd’s syndicates have pulled back from property direct and facultative (D&F) business either in full or by significantly cutting portfolios, sister publication The Insurance Insider has reported.

Continuing cat losses and dislocation at Lloyd’s should support reinsurance renewal rates, the reinsurer suggested.

The buyer expects to pay about £102mn ($134.7mn) in cash for Beaufort Underwriting Agency and its Syndicate 318.