Lloyd's First Captive to Be Launched
Article Abstract:
Lloyd's of London's first captive insurance underwriting syndicate will come into existence on Jan 1, 1999. The syndicate, which is the captive of a major multinational corporation, , will underwrite premia worth 25 million pounds sterling. The Council of Lloyd's, the managing body of the venerable London-based insurance market, approved insurance captives in Nov 1998. Lloyd's captives will be unique in that they offer the captive the ability to issue policies around the world through access to Lloyd's licenses, as well as providing access to Lloyd's underwriting expertise and services. The captive also is backed by Lloyd's financial ratings. Lloyd's captives will be backed by the markets funds as are any other Lloyd's syndicate.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1999
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Emerging convergence: a host of emerging and converging trends will have an impact on the property/casualty insurance industry
Article Abstract:
Developments in the property/casualty insurance industry will be impacted by an interplay of external and internal forces such as consolidations, technology, new market entrants, changing operating dynamics as well as changing customer demands. Consolidations, owing to companies struggle for increased profitability and market share, will continue to affect the property/casualty market although at a slower rate compared to the banking industry. Technology will likewise impact the way distribution channels, independent agencies in particular, operate and interact.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1997
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Comment about this article or add new information about this topic:
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