Analysis
Analysis
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New entrants have eased the capacity constraints that played a large part in last year’s huge rating changes.
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Senior executives on the island saw the coordinated initiative as a clear long-term threat, but one that is mitigated by various other attractions of operating in Bermuda.
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The London market has seen a marked slowdown in specialty insurance rates year-on-year, in the latest evidence that the recent upswing in rates is starting to lose steam after three years of acceleration.
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State-backed carrier GIC Re faces competition as the European Big Four press into the subcontinent.
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On average, syndicates which show consistency in their underwriting results also deliver higher underwriting margins.
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The results challenge the idea that syndicates need to build scale at Lloyd’s in order to succeed in the marketplace.
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Whatever their eventual impact on runaway loss inflation the fact reforms were enacted at all is a happy surprise for the industry.
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Many carriers agreed on the growing attraction of primary markets but differed on reinsurance-expansion tactics.
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The February Deep Freeze has already pushed cedants to access reinsurance, adding fuel for rate rises later this year.
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Analysis of the numbers by Insurance Insider showed a slight loosening of the Corporation’s restrictions on growth between 2019 and 2020.
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Underwriters voiced a cautious optimism about the outlook for 2020, but warned that the class was moving from a low point.
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After years of poor performance and talent flight, Insurance Insider examines the challenges faced by Axa XL and the strengths it holds to forge a new start.
