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Chief of markets Patrick Tiernan said the Corporation will also launch a disaster scenario exercise with the market, looking at China, Taiwan and the US.
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Inflation will define priorities such as a focus on safeguarding clauses and pricing transparency, as well as line of business challenges, for underwriters and actuaries in the year ahead.
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The business booked a turnover increase of 14.5% to £41.4mn.
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The Lloyd’s market has historic connections with the royal family, with the Queen opening the Lime Street building in 1986.
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Insurance Insider selects 10 exclusive news stories reported by our team on the frontline at Monte Carlo Rendez-Vous.
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Cohort 9 of the start-up accelerator programme includes a provider of a parametric loan default product, a parametric BI offering and an embedded insurance specialist.
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The launch will allow the Lloyd’s market to access a greater proportion of Acrisure’s $32bn managed premium.
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The legacy carrier had already been engaging with managing agents ahead of the launch to scope out the opportunity for a starter RITC deal.
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Lloyd’s has confirmed that 1 Lime Street will stay open during the period of national mourning, although the building will be closed on the day of a state funeral for Her Majesty the Queen.
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Plus the full Insider Honours winners list, people moves and all the top news from the week.
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Lloyd’s chairman Bruce Carnegie-Brown paid tribute to Her Majesty the Queen yesterday evening at 1 Lime Street, before the Lutine Bell was rung and a two-minute silence was held.
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The H1 story has overall been a positive one for Lloyd’s, but the market and the Corporation are entering a period which will be characterised by huge uncertainty and volatility.