Bermuda
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The hire previously worked for BMS and Price Forbes. -
The underwriting profits within the carrier’s US operations narrowed to $25mn, after higher economic activity and attritional claims caused margins to tighten.
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The former Alterra Global Reinsurance CEO will be responsible for establishing the new hub for the reinsurance broker.
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He suggested that the company might be willing to allow higher commissions.
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The reinsurer grew its casualty pro rata reinsurance book by 64%, adding $218mn in GWP.
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The insurance division added almost $300mn in premium in the quarter, while volumes in reinsurance were higher by $360mn.
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Aspen said Mike Cain will still remain with the company through Q1 2022.
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The carrier has restructured its cyber business with stringent underwriting conditions.
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The company reported $139mn in Q2 cat losses that it said mostly came from Winter Storm Uri.
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The company grew P&C net written premiums by 47%, while the non-life combined ratio improved 32 points to 89% during the second quarter.
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RenRe beats estimates with $329mn underwriting income driven by a surge of profits in its property segment.
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The broker has undertaken a major expansion since rebranding from SSL Endeavour last year.
