Everest
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Joanne Barry will be joining the team at Zurich. -
The remediation process is on track for completion in the fourth quarter.
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The quarter’s performance was also affected by the Washington, DC aviation disaster.
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London-based US excess casualty writers are increasingly looking to attach lower in the tower.
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The executive was named group CEO in January.
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The executive, Everest CEO from 1994 to 2013, has served as board chair since 1994.
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John Howard was appointed as an independent, non-executive member.
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Deteriorating CoRs, GWP growth and fears over wildfire impacts were common themes.
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At 1 January renewals, prices dropped 5%-15% for loss-free programmes.
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The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
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CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy.
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The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
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