Beazley
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The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn. -
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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The carrier launched into the political violence market at the beginning of the year.
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Lancashire was the only carrier to see double-digit growth in insurance revenue for H1.
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Plus the latest people moves and all the top news of the week.
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The CEO said he expects cyber rates to start flattening post-loss.
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The executive argued that Beazley’s performance is the ultimate driver of the insurer’s valuation.
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Growth was driven by active risk selection, as rating environment begins to moderate, said CEO Cox.
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In messaging to the market, the cyber insurer described the rating environment as “stable and sustainable”.
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The cyber market should use the latest outage to start decisively taking action on managing cat aggregates.
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