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Weekly News RoundUP – 31st January

The departures at Lloyd’s are coming thick and fast with CFO Burkhard Keese set to leave in May 2025. This follows the announcement of both Chairman and CEO role changes, which are taking place later this year. The Californian wildfires have highlighted the importance of parametric insurance solutions in tackling climate change say experts in a Business Insurance article; a sentiment echoed by WTW in their latest Natural Catastrophe Review.

LA fires generate more interest in parametric alternatives (Source: Business Insurance)
Insurance experts (including our MGA client, Skyline) have been discussing how parametric insurance structures are a key tool in managing these secondary perils.

What Trump 2.0 means for insurance (Source: Insurance Thought Leadership)
Off the back of Trump’s second term, Rory Yates predicts we will have “a more stress tested insurtech and fintech market, which will have access to a much stronger advanced technologies market”.

WTW underlines critical role of data & risk models as 2024 insured losses top $140bn (Source: Reinsurance News)
Warning that the insurance protection gap for nat cat is estimated at 60%, WTW has “emphasised the need for enhanced risk modelling, innovative insurance solutions and proactive adaptation and mitigating measures to address the growing impacts of climate change”.

CFO Keese to depart Lloyd’s, remain advisor with focus on development of London Bridge (Source: Artemis.bm)
Keese will handover to deputy Alex Cliff and has been thanked for “guiding Lloyd’s to some of its best-ever financial results and his execution of the capital proposition, which has made Lloyd’s more resilient than ever”.

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