Lloyd’s to boost market growth with new placement

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Lloyd’s Central Fund is a mechanism, governed by the Council of Lloyd’s, which will pay any valid claim that cannot be met from the resources of any member.

The new multi-layered cover will reimburse aggregate payments from the Central Fund in excess of £600 million, up to £1.25 billion. This, Lloyd’s said, serves as a key component in its chain of security. Its layered structure is supported by newly created cell company Constellation IC Limited, which is financed by J.P. Morgan. It also includes a panel of eight major reinsurers: Arch, Berkshire Hathaway, Everest Re, Hannover Re, Munich Re, RenaissanceRe,

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Manulife gives employees extra paid day off

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Manulife is giving an extra paid day off to its entire global workforce, which includes 19,000 employees in Asia, on June 18.

This is the second consecutive year Manulife has offered the extra day off, dubbed “Thank You Day”. This is apart from the five extra personal wellness days given by Manulife to its employees this year.

“We are deeply appreciative of the extraordinary efforts and sacrifices of our colleagues over the past year,” said Anil Wadhwani, president and CEO, Manulife Asia. “It’s especially important that we help them take time to unplug and reenergise as well as look after

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Lockton Re kick starts new unit with arrival of CEO

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It’s official – Lockton Re (Bermuda) Limited is here.

After bringing in a number of key hires for the unit, Lockton Re has now launched the Bermuda office, coinciding with the appointment of Jonathan “Jonty” Davies as chief executive. Bermuda is the 12th location for Lockton Re, the global reinsurance business of major insurance broker Lockton.

“Great to have Jonty as part of our global team and Bermuda buildout, joining other key appointments including Tom Parcell who joined in February as chief broking officer, Vittoria Canale who joined last year as operations executive, and Tucker Moore who joined in April

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Ransomware and hacking bigger threat to UK business than hostile states

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Cyber criminals carrying out ransomware attacks are now a bigger risk to UK national security  and businesses than online espionage by hostile states, Britain’s cyber defence chief has warned.

Ransomware and hacking now bigger threat to UK businesses than hostile states

Lindy Cameron, chief executive of the National Cyber Security Centre — a branch of GCHQ — urged Britons to wake up to the threat from ransomware hackers, in a speech to London’s Royal United Services Institute.

Cameron described Chinese cyber attacks on UK industry as “something our companies treat as business as usual”, and highlighted that North Korea and

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