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Analysis showed a modelled loss range of between $15.6bn and $33.4bn for a 1:200-year global loss event.
Simon McGinn joined Allianz in 2004 and was made CEO of Allianz Commercial in 2021.
Syndicate 1200 exited London D&O in 2020 when it was under the ownership of Argo.
Neil Roberts, head of marine and aviation at the LMA, has called for a Plan B to Russian sanctions to help the marine sector.

2023 Atlantic hurricane season preview: Rolling the dice

London D&F underwriters are seeing rate rises of 15% on average on clean business, while loss-affected accounts are seeing their rates double.
London D&F underwriters are seeing rate rises of 15% on average on clean business, while loss-affected accounts are seeing their rates double.
Capacity and competition are limiting underwriters’ ability to continue pushing for double-digit rises.
The deal is the third scale-up buyout for the firm, highlighting the ongoing value of scale in the reinsurance segment.
Most carriers were keen to talk about how they are taking on the ongoing hard market in Q1, but some complexities partly offset their good news.
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Joe Gordon also reiterated plans to switch off PPL’s older Ebix Europe platform later this year, claiming some participants see friction with brokers “when it’s not there”.
The US retailer’s acquisition of the UK MGA and broking group will be mutually beneficial, according to executives.
The broker’s UK CEO said the current rating environment is ‘eminently supportable’ for London carriers.
The fac-focused reinsurance unit expects to expand into treaty over the next year and attract additional talent to boost its operations.
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