Asta, the third-party managing agent at Lloyd’s, announced the Council of Lloyd’s granted in-principle approval for the launch of Picnic Syndicate PIC 2460, a syndicate-in-a-box (SIAB). Picnic will commence underwriting on Jan. 1, 2021, subject to completion of the Lloyd’s …
Lloyd’s, the specialist insurance and reinsurance market, announced the creation and in principle approval of its newest “syndicate-in-a-box,” Syndicate 1796,* set up to insure the storage and transportation of a COVID-19 vaccine – once it is developed – to emerging …
Managing general underwriter Carbon Underwriting has received in-principle approval from Lloyd’s to launch a syndicate-in-a-box, Syndicate 4747. Carbon will start writing business, effective July 1, 2020, with stamp capacity of £15 million (US$18.4 million) in year one, estimated to rise …
Lloyd’s developed the concept of a syndicate-in-a-box (SiaB) to make it easier for innovative capital to enter the market, but there are certain requirements and differences compared to traditional syndicates. The first company to announce the launch of an SiaB …
Lloyd’s of London is expecting big things for 2020 as it rolls out the key initiatives for its massive modernization project designed make it easier to do business with Lloyd’s and, ultimately, reduce the cost base of the market. One …
Lloyd’s of London has unveiled a blueprint for action to facilitate its Future at Lloyd’s project, which aims to “build the most advanced insurance marketplace in the world.” This first blueprint, called “Blueprint One,” sets out six ideas of improved …
