Lloyd's
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The platform distributed ~$50mn to investors for 2023.
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ILS platform London Bridge II has had a good year as volumes reached $750mn, the CFO said.
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The pension fund was one of the first investors to use London Bridge.
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Envelop SPA 1925 was launched at the start of the year with Chris Baddeley as active underwriter, based in London.
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Roughly $750mn of securities across 13 cells are available to institutional investors via London Bridge vehicles.
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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.
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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.
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The US could be exposed to economic losses of $1.1tn in the event of a cyberattack, the highest of any country.
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The company said Ki is the first algorithmic underwriter to offer capacity from multiple syndicates.
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The Corporation’s chairman said that Names and other third-party capital are essential to maintaining the market’s unique nature.
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SCS accounted for nearly two-thirds of global first-half catastrophe losses.
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The new SPA will write cyber reinsurance initially and could progress to writing insurance.
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