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Reinsurers fended off 20% cuts, but wildfires pleas failed to hold pricing flat.
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Last year, nearly two-thirds of Lloyd’s syndicates reported a deterioration in combined ratio.
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Insurer appetite for facilities is not just about top line, it is also a hedge against disruption.
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In the first part of this series, we explore how smart-followers are mixing up their strategies.
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The market took a higher share of hurricane losses and couldn’t cut its acquisition costs.
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Sources warned some property XoL books are already running 50% loss ratios.
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The proportion of women in lead underwriting roles still trails other leadership positions.
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Some of the Big Four are slowing growth as the market softens.
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The market improved on attritional losses in 2024 – but slowing rate growth raises queries over top-line momentum.
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Hiscox, Beazley and Lancashire all reported top line growth, but ROEs dipped in an active wind season.
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Sources warned of the erosion of underwriting margins after a string of strong years.
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Two major claims have prompted underwriters to question the sustainability of double-digit rate decreases.