Chubb
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The value of the bridge is estimated at $1.2bn.
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However, it doesn't prove a mutual is a wrong concept for the cyber market.
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The project is not immediately moving forward due to lack of client demand.
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This publication revealed Chubb was planning to re-enter the London TL market.
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Mo joins from Chubb, where she was country manager for Sweden.
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Strong reinsurance results have absorbed long-tail reserve charges.
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Chubb withdrew from writing transactional risk in London and all territories outside the US in 2020.
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The newly created role will see Frederico Spagnoli oversee Chubb’s consumer lines in 51 countries.
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Chubb declared at the last minute that it would not contest the English court’s jurisdiction, in contrast to every other reinsurer being sued by aircraft lessors.
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The newly launched offering will cover media liability, cyber, property, terrorism, casualty and legal expenses.
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At a point when cyber rates are falling and capacity is plentiful in high excess layers, the mutual plans have the wider cyber market somewhat perplexed.
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Clearer wordings for cyber cat risk would also help foster the development of the more capital-efficient event XoL reinsurance market in cyber, Kessler said.
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The top five insurers on the continent maintained their ‘clear dominance’ in terms of scale.
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The consortium is supported by 11 other Lloyd’s businesses.
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Sources have said the layer will provide the carrier with protection for the Northeast US only and attaches at a remote level.
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The carrier was originally in the market for extra capacity at January 1 before pulling plans.
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Edward Kopp will be succeeded in his current role as president of Chubb Korea by Janice (Jae-Kyung) Mo – the first woman to lead a general insurance business in Korea’s history.
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The CEO said Chubb has ‘never seen better pricing’ on primary property.
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O’Donnell will focus on strategic and tactical operations within global reinsurance alongside his continuing responsibility for Chubb Tempest Re USA.
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The cargo market is undergoing staffing turmoil as firms vie to secure talent.
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The Singapore aviation hub is part of a strategic regional focus for the aviation team from Chubb Global Markets.
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The executive will be responsible for the growth and profitability of the carrier’s casualty lines in 51 countries and territories outside North America.
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The executive will have responsibility for lines including property, casualty, professional lines, energy and marine.
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In early January, the company completed the transactions to increase its position in Huatai to 64.2% from 47.3%.