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The reinsurer emphasised the need for improved secondary peril models including predictive capabilities.
The company has also promoted Richard Slater to CUO.
The risk is increasing of some cedants ‘running naked’ in early January as the market faces a ‘horrendous bottleneck’ of negotiation ahead.
The increase in premium growth was largely attributed to strong pricing trends for commercial lines and reinsurance business.

Legacy mega-deals: Market divided on potential gains from syndication

The increasing frequency of $1bn-plus deals has led to discussion in legacy circles on whether there is a viable case for legacy deal syndication.
Eight syndicates including newer vehicles from CFC and others, as well as mature vehicles from Everest Re and Lancashire, have so far reported increases in stamp capacity of 50% or more.
Panellists at the London Market Conference called on the industry to work together to improve recruitment, the experience of staff, and its own image.
Initial loss estimates for the last quarter show lower hits to equity than observed after hurricanes Harvey, Irma and Maria five years ago.
Carriers reassured analysts that unrealised investment losses will not seriously affect solvency while sounding a bullish note on renewals.
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The Gallagher UK chair has been nominated as an Aldermanic Sheriff for 2023, which involves closer work with the Lord Mayor on trade and investment matters.
The Corporate Risk and Broking head of global lines of business said staff and client attrition has been reversed – and cast doubt on predictions of further specialty market hardening.
The reinsurer is ready to “walk away from business” where it feels pricing and terms and conditions are not good enough.
Richard Dudley, global head of climate strategy at Aon, says existing products such as IP coverage can help insurers take a leading role in opening up investment for new climate transition technology.
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