Chubb
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The programme will succeed the previous buyback launched in 2023. -
Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.
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AIG, HDI Global and others have settled. Chubb’s fight continues.
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The facility provides up to $100mn in claims-made excess casualty coverage.
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A positive outcome could significantly curb insurers’ exposure to the loss.
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Of the 178 passengers and crew on board, no serious injuries have been reported.
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Last year, the firm consolidated financial and excess liability lines under the leadership of Richard Porter.
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The two Asian companies wrote $265mn net premiums in 2024.
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Andy Houston will be based in London, reporting to Mark Roberts, division president UKISA.
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The carrier has been reducing its exposure to the area where the wildfires occurred by over 50%.
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New entrants have contributed to competition in the class of business.
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