Conduit
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The carrier also secured risk-adjusted rate increases of 19% across its portfolio at 1 January. -
The reinsurer said the appointment comes as it looks to grow in the property treaty arena.
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Conduit Re CEO Trevor Carvey said that a lack of legacy left the carrier well placed for the upcoming renewal.
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The reinsurer posted losses of $40mn from Hurricane Ian but said pricing and terms were set to improve.
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The start-up’s top team predicted further rate hardening at 1 January.
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The carrier’s combined ratio improved by 22.1 points to 105.1%.
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Plus the latest company results, people moves and all the top news of the week.
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Up to 50% of the carrier’s war loss stems from aviation, where litigation brews.
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The start-up also revealed $15mn-$30mn in Ukraine losses.
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Former Scor executive Antonio Moretti takes on the IR role immediately.
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The start-up Bermudian reinsurer has focused initially more on quota share.
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Gross written premiums came to $378.8mn in its first year of trading, with an indicative renewal rate increase of 13.7%.
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