Securis to exit Lloyd's business over profitability concerns

U.K.-based insurance and reinsurance-linked investment manager Securis Investment Partners L.L.P. is exiting from its Lloyd's of London business due to lack of profitability, Artemis.bm reports. Herbie Lloyd, portfolio manager for nonlife at Securis, said that a limited scope, high fixed costs, diversification challenges and reinsurance inefficiencies hampered the firm's Lloyd's business. Lloyd’s had offered Securis the opportunity to continue its existing syndicate with a substantially reduced capacity and with a sole focus on U.S. property business.

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