Week in 90 Seconds: Lloyd's rate debate, hurricanes loom, AI Plus, major hires and deals

The Week in 90 Seconds: London pricing, hurricanes, AI, people moves

Here are the headlines insurance professionals need for the week ending September 26, 2025. London market pricing debates, a new Caribbean system on watch, AI momentum in operations, notable hires, and a major M&A deal round out the week.

London specialty pricing: noise vs reality

At the Association of Lloyd's Members autumn conference, Convex chairman Stephen Catlin dismissed talk of double-digit rate reductions as "broker speak" and said pricing remains firm. Expect pockets of competition, but discipline and margin protection are still front and center.

• Renewals: anchor negotiations in your loss experience and exposure quality; differentiate beyond headline rate.
• Broking: set client expectations early on terms, attachment points, and coverage scope.
• Underwriting: maintain line selection and rate/term integrity; be explicit on volatility allowances.

Catastrophe watch: Caribbean low

The National Hurricane Center put the odds at 80% that a Caribbean disturbance forms into a tropical cyclone in the coming days. Track remains uncertain; prepare for potential North America impacts and implement pre-bind guidance now.

• Run pre-event exposure snapshots for property cat, flood, and auto physical damage in coastal ZIPs.
• Confirm surge staffing, FNOL routing, IA/vendor availability, and CAT desk escalation.
• Review reinsurance aggregates, reinstatements, and hours clauses; brief markets on expected movements.
• Apply moratorium triggers and wind deductible rules consistently; document exceptions.

National Hurricane Center: Latest outlook

AI in practice

AI Plus kept AI on the agenda across carriers and brokers. Teams are applying AI to triage submissions, summarize bordereaux, and support claims review while keeping humans in the loop and controls tight.

• Pick two manual tasks to automate in Q4; measure cycle time, leakage, and quality uplift.
• Tighten data privacy and model governance before scaling tools to production.

Looking to upskill underwriting, claims, or operations teams? See curated options by role at Complete AI Training.

People moves

• Vantage Risk property cat SVP Steinhoff heads to Guy Carpenter.
• Lloyd's hires Dewhurst and Sisson into underwriting oversight roles.

Revisit your relationship maps for property cat placements and Lloyd's oversight touchpoints.

Deals and growth areas

• South Korea's DB Insurance to acquire Fortegra in a $1.65bn cash deal. Monitor impacts on capacity partnerships, program fronting, and rating dynamics once integration plans surface.
• Nuclear market opportunity is building. Clarify appetite, accumulation controls, and wording nuances (decommissioning, liability caps, terrorism extensions).
• PV/terror remains active in the London market; track coverage triggers and pricing as geopolitical risk moves.

What to watch next

• Whether London renewal momentum shifts after conference messaging.
• NHC advisories and any watches/warnings tied to the Caribbean system.
• Further senior hires at Lloyd's connected to underwriting oversight and governance.