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Catastrophe claims were up 75% for the year, whilst Covid-19 claims shrank to £13mn.
The renewal also includes an expropriation aggregate limit, which is understood to be less than half of what it was pre-renewal.
The carrier also improved its combined ratio by 55 points to 118% .
The account consists of 16 airlines and has a total fleet value of $29.7bn.
Opinion
Analysis
Ukraine uncertainties remain despite some loss estimates emerging in Q1 earnings across the Big Four European carriers, while inflation looms on the horizon.
Recent start-ups have recorded annual underwriting losses about 80% of the time, Insurance Insider analysis shows – even after becoming established.
It is understood that the Marsh and Aon Alpha facilities are those with the most exposure to the war in the Ukraine.
Swiss Re goes against the tide in expanding in cat, while specialty rates appear to be holding up better than expected.
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Interviews
Interviews
Beazley’s pioneering new Syndicate 4321 uses ESG ratings to provide additional capacity for clients, but it will play a broader, strategic role for the carrier.
CEO Kate Markham and CUO Paul Lawrence discuss the biggest changes to the business, including a near 40% reduction in binders exposure and a push to lead more business.
In an interview with this publication, the executive said the broker will consider M&A in its bid to expand.
In an interview with Insurance Insider, the CEO outlined the progress made during extensive remedial work.
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