AIG
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The new arrival will also be financial lines manager for Denmark and Norway. -
The company also lowered the attachment points on its per-occurrence and aggregate property catastrophe treaties after shrinking its portfolio.
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The Australian carrier has also modestly increased its reserves for Covid-19 BI claims.
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The government removes a previous cap of 49% in its budget.
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Corine Troncy joins from Coface, where she was most recently a senior advisor to the French carrier’s executive committee.
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The company expects reinsurance to provide 78% of its $2.5bn gross written premium target.
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The insurer highlights the discrepancy between how the Trump rally and BLM protests were treated.
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It follows earlier efforts by excess cyber insurers to introduce sub-limits during Q4.
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The insurer is also said to have scaled back its cession percentage to between 25%-30%, with final signings still being determined.
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The CEO called reinsurance an incumbents’ market, despite the influx of new capital.
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The underwriter formerly led Axa XL’s international cyber offering in London.
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Occurrence retro rates are among the segments where rate pressure is abating, although the outlook remains somewhat opaque in a late renewal.
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