week commencing 08/12/19:

Dilyn the dog has clearly swung it for Boris and we are all set to GET BREXIT DONE. We can look forward to a break from shots of polystyrene walls crumbling, phones being pocketed or fridges closing and focus instead on what really matters … like what happened this week in the world of insurance.


Lloyd’s sells £300m of debt to finance Blueprint One

Debt fundraising will allow the Corporation to fulfil a pledge that it won’t increase market levies to finance its transformation. External-link. [Financial Times]


Rising reinsurance costs putting pressure on carriers

A report by AM Best warns that as reinsurers look to return pricing to more sustainable levels, insurers will face added pressure on earnings. External-link. [Artemis]


US coverholder Victor to launch Lloyd’s syndicate 2288

Victor’s syndicate will launch next year and target P&C business in the US, the UK, Italy and the Netherlands, with an initial stamp capacity of £57m. External-link. [Reactions]


Liability insurers would pay bulk of Weinstein settlement

Companies – possibly including Chubb and AIG – would cover the lion’s share of proposed US$47m deal being negotiated in a bankruptcy court in Delaware that would settle all but two of the civil cases pending against Weinstein. External-link. [Insurance Day]


Balance shifting from MGAs to providers

Ahead of the January renewals, MGAs are under pressure to prove their worth to capacity providers. External-link. [Insurance Insider]


Losses from Indonesia forest fires to reach US$5.2b

A report from the World Bank estimates the total damage and economic loss from forest fires in Indonesia this year amounted to 0.5% of the country’s GDP. External-link. [Reuters]


‘WonderCover’ launch aims to close cyber and terrorism coverage gap

Insurtech MGA Qomplx has partnered with Chaucer to launch a multi-peril parametric product for SMEs. External-link. [Reinsurance News]


Australia bushfires: 80% of homeowners under-insured

In the wake of the recent fires, history is repeating itself with the Insurance Council of Australia believing the majority of property owners are probably under-insured. External-link. [Sydney Morning Herald]


Brit launches the first ILS fund at Lloyd’s

Specialty insurer Brit has launched Sussex Specialty Insurance Fund to offer insurance linked securities investors access to Lloyd’s risk. External-link. [Insurance Business]


Unpicking an election disinformation campaign

It appears that Britain has been undergoing a perfect storm of electoral interference which has compromised some big names in journalism. External-link. [Byline Times]


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