Beazley
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Fast Track is led by QBE and backed by Canopius, Arch and Beazley. -
The executive has also worked for AIG and Ace.
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A spree of new entrants in the cargo market has resulted in recent talent turmoil.
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CEO Adrian Cox said Beazley’s recent $290mn ILW purchase was not driven by “capital flexibility in and of itself”.
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Some US and European cedants will likely see "specific adjustments" to their programmes.
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The carrier said an active hurricane season and a global cyber event had not altered its full-year guidance.
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The Flex consortium will offer up to EUR/$50mn limit.
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The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.
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Paul Bantick will continue to oversee the cyber risks division during the search for his successor.
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Sources said that for reinsurers to meet this demand, they will need to get comfortable analysing and evaluating systemic and aggregate risk.
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The carbon market is viewed as a potential growth class for insurers.
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