Insight and Intelligence on the Global Facultative Markets

19 May 2012

Nuclear syndicate to drop reinsurance in 2012

7 September 2011

Chaucer-managed Lloyd's Nuclear Syndicate 1176 is planning to drop material reinsurance protection for the £210mn maximum line it offers nuclear pools for the 2012 year of account.

The highly profitable syndicate, which has historically been one of Lloyd's star performers, said that dropping reinsurance protection would almost double the potential loss as a percentage of capacity from a single nuclear event from approximately 350 percent of capacity to approximately 660 percent.

The syndicate said that the new plan would also...

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