Lloyd's estimates net Hurricane Ian losses at $2.3bn-$3bn
The market share for the storm of 3%-5% is below syndicates’ historical average for US wind events.
Source: insuranceinsider.com
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Gallagher launches marine practice in Peru with team of six
The unit is led by marine veteran Ricardo Castro, who joined the firm from Marsh and has over four decades of experience in the industry.
Source: insuranceinsider.com
Ian leaves thousands without power and floods parts of South Carolina
The storm, which made landfall as a Category 1 hurricane, has now been downgraded to a post-tropical storm.
Source: insuranceinsider.com
FCA's Pritchard: 'We recognise need to operate with accountability'
Sarah Pritchard, executive director for markets at the FCA, set out the regulators’ moves to improve efficiency and enable innovation at a speech.
Source: insuranceinsider.com
Lloyd's to allow more capital flexibility on cat growth for top-performing syndicates
New flexibility will enable top-performing syndicates to raise cat exposures under the Lloyd’s LCM 5 framework, without a penal increase in the required capital.
Source: insuranceinsider.com