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The CFO also highlights a total EUR1.7bn Covid-19 related reserve charge for contingency and EUR1bn for BI.
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The deal could be signed later this week or at the weekend, sources said. -
The carrier reserves $47mn for Storm Uri but says the overall claims experience was positive.
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The carrier reported price increases at 1.1 of 5% across the board.
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Parent Axa says the unit is on track to achieve a full-year earnings target of EUR1.2bn ($1.4bn).
Opinion
Focus
Focus
30 April 2021
The launch marks the next logical move for the MGA, but has wider ramifications for Lloyd’s and the MGA market.
Analysis
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Many carriers agreed on the growing attraction of primary markets but differed on reinsurance-expansion tactics.
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Finpro had double-digit rate hikes in both regions, according to Marsh’s Global Insurance Price Index.
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A new framework devised by the carrier shows hidden cyber exposures across contingency, property BI, A&H and property covers.
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