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Archive Stories
Archived stories from 2012

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Downton Re: The Story So Far?

Lord Grantham, CEO and Chairman of Downton Re faces ruin after the sinking of the Titanic threatens the company, but the arrival of hedge fund CousinMatt secures the future of the aristocratic reinsurance company (having previously been saved by American money in the form of a merger with Cora PLC).

Light relief is apparent in the form of the reinsurer?s Chief Risk Officer, the Dowager Countess who asks at one point: ?What on earth is a paid loss retro?? to the merriment of everyone. Chief Risk Officer Carson keeps everything running shape, with the occasional acerbic comment such as, ?No Mrs Hughes, we will not offering finite risk policies while I am in charge downstairs,? and ?Mrs Patmore, would you kindly refrain from underwriting US East Coast catastrophe business at unsustainable rates.?

The calm of the Downton Re is rent asunder with the collapse of the Turkish operation, and later by the arrival of brash new money in the form of Bermudan reinsurer Carlisle Re. Lady Sybil Crawley?s attempts to make the family take Solvency II seriously are ignored until the arrival of Lavinia Swire threatens the capital base of Downton Re, while the subsidiary run by Lady Edith announces merger discussions with Dublin-based Chauffeur Re?[that?s enough spurious Downton comparisons ? Ed]


Other news from Jan 2012
Travelating the Wave of Insurability
the serious stuff
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