Insider View: Cobalt's delay

Cobalt's deferral of its targeted Lloyd's inception date
beyond 1 April is a clear demonstration of the mounting difficulty
of forming any true start-up on Lime Street.
The Shariah-compliant insurer has been in discussions with
carriers about the provision of the reinsurance capital it needs to
launch for months, and it came very close with at least one of
those firms.
But if you think about it, the drawn-out nature of the Funds at
Lloyd's arrangement is the most natural...