Hampden Group

May 18, 2020

Beazley completes new capital raising

Beazley announced yesterday to the LSE (click here for the full announcement) that it intended to raise some £247 million (approximately $300 million) through an extra placement of shares. Today 19 May, Beazley confirmed the successful raising of the extra capital through the take up of shares at 315p, a discount of just under 5% compared to yesterday's closing price.…

May 18, 2020

Tropical storm and hurricane activity 2020

The 2020 season starts on 1 June and runs officially through to the end of November.…

May 15, 2020

US Treasury opposed to forcing of BI claims payments and other positive legislative developments

Some encouraging legislative and legal news:…

May 14, 2020

Lloyd's provides initial COVID-19 estimates

Lloyd's has announced to the LSE this morning its estimated aggregate losses from COVID-19. The announcement which is available here in full states that the market will pay out in the range of £2.5bn (US$3.0bn) to £3.5bn (US$4.3bn).…

May 13, 2020

Atrium syndicate 609 estimates for 2018 and 2019

Atrium has released updated forecasts for the 2018 Account and a forecast for the 2019 Account for its managed syndicate 609…

May 12, 2020

Marsh "Global Insurance Market Report - 2020 Q1"

The global broker Marsh published earlier this month its commentary on renewal activity for worldwide insurance risks up to 30 March 2020 showing a continuing upward trend in rate increases.…

May 12, 2020

Some updated syndicate 2018 Account estimates and 2019 Account estimates

We have received some more estimates from a few managing agents in the past few days. We expect to receive the complete set on the 27th May.…

May 12, 2020

Willis Towers Watson market report on US insurance renewal expectations

Willis Tower Watson's ("WTW") report "Insurance Marketplace Realities" serves as a guide for WTW's North American insurance buyers who are preparing for their upcoming renewals. For the first time ever, since first produced in 2016, "not a single line is predicting overall decreases". The overall trend is for increasing rates - "Overall, 23 lines are expected to see price increases and five will see a mix of both increases and decreases or flat renewals."…

May 10, 2020

AIG launches Syndicate 2019

In a follow up of our article last year, AIG has announced on 4 May (click here for Press Release) that Lloyd’s had given it approval for the launch of Syndicate 2019 with a capacity of US$1bn which will make it the largest ever new syndicate. The syndicate will write AIG’s Private Client Group (“PCG”) High Net Worth business which includes high net worth homeowners, auto, collections, yacht, personal umbrella and specialty coverage for earthquake, excess flood and workers compensation insurance coverages…

May 07, 2020

Underwriter issues Motion to Dismiss against Florida sports bar BI claim

An example of the legal action being undertaken by US policyholders arising from the COVID-19 outbreak is the Prime Time Sports Grill "sports bar" located in Tampa, Florida which has a commercial property insurance policy underwritten by a Lloyd's syndicate.…