Lloyd’s warns syndicates on happy-go-lucky downhill market ride

Select Lloyd’s syndicates risk following the market softening with blind eye to the disconnect between falling rates and loss trend, a “worrying degree of optimism” not unknown to the Lloyd’s market in prior market softenings and not unworthy of strict intervention by market overseers this time around, Lloyd’s chief of market performance, Rachel Turk, warned syndicates in the Q2 market message.