Disclosed crop losses hit $500mn
Recent disclosures on estimated US crop losses have assuaged
fears that it could be a major industry event, with $540mn of loss
estimates unveiled so far.
Although many market participants declined to offer an estimate of
their likely exposure during second quarter earnings calls, as
drought conditions in the US were still unfolding, recent data
points suggest that executives' tendency to downplay the
event's significance has been vindicated.
Allied World was the first Bermudian carrier to pre-announce its
third quarter...
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