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Member, Beacon International Group, Ltd.
Lloyd’s of London is closely watching the availability, structuring, pricing and terms of upcoming reinsurance placements, especially in property and certain specialty classes, as reinsurance market conditions become more challenging, Artemis reported. Patrick Tiernan, chief of markets at Lloyd’s, has urged insurers and reinsurers to notify Lloyd’s of any changes in their reinsurance programs, while reassuring the marketplace participants of continued support from Lloyd’s.