CNA HARDY EXITS THREE CLASSES AT LLOYD’S

CNA Hardy is to exit property treaty, marine hull and construction all-risks/erection all-risks business on its Lloyd’s platform in the latest move by a managing agent to exit unprofitable classes. The restructure will see both the firm’s chief underwriting officer, Patrick Gage, and head of property, Lloyd Tunnicliffe, leave the business. CNA Hardy said the three lines of business had “struggled to deliver consistent profitability even in light of improving market conditions”. Gage and Tunnicliffe will leave CNA Hardy at the end of this year.