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Weekly News RoundUP – 20th September

Lloyd’s quest for its next Chair has been completed and Sir Charles Roxburgh KCB has taken the top job. In other Lloyd’s news, the market has announced its intention to introduce a flat fee structure from 1/1.

Lloyd’s of London announces next Chair (Source: Insurance Business Magazine)
Sir Charles Roxburgh KCB will succeed Bruce Carnegie-Brown in 2025. As well as roles at the Treasury, Roxburgh worked nearly 3 decades at McKinsey, where he supported a number of initiatives at Lloyd’s.

Podcast: Bruce Carman, Hive Underwriters: MGAs are insurance speedboats (Source: Voice of Insurance)
A leading aviation and war underwriter since the 1980s, this podcast with Bruce Carman “examines the art of becoming a good and highly focused underwriter and insurance entrepreneur”.

Cowbell Expands Cyber Insurance Underwriting Capacity for Middle-Market Businesses (Source: Insurtech Insights)
In a tie-up with Chaucer, OneAdvent client, Cowbell, has announced an expansion of its underwriting capacity, enabling it to cover businesses with annual revenues of up to $1 billion.

Lloyd’s reworks fee structure to flat 1% charge on GWP up to £3bn (Source: Insurance Insider)
Under a new simplified structure, Lloyd’s intends to introduce a flat fee structure from 1st January 2025.

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