General casualty/GL
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Mathias Neumann was chief underwriter of casualty and specialty at the Japanese company.
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Insiders Mark Appleton and Thomas Stamm take new roles as the carrier expands management of the line beyond Hanover.
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The CFO said that commercial lines business was improving faster than retail, reversing previous trends.
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The hire reflects Ascot’s push to build capabilities on the island.
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Ben Wallace will lead the team as the syndicate continues to expand in the casualty space.
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The start-up adds Angus Hampton as head of international casualty and reports a quota-share focus during the renewals.
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The broker previously held positions at Guy Carpenter, JLT Re and HSBC Insurance Brokers.
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The insurer is also said to have scaled back its cession percentage to between 25%-30%, with final signings still being determined.
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Ceding commissions are not falling as reinsurers look to capitalise on insurers' re-underwriting.
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Brokers are navigating a market where new capacity from underwriters who have waited out the soft market may help dampen price rises.
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The ruling will follow a final, uncontested court hearing on Wednesday.
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The insurer was ordered to pay out for policies by the Western Cape High Court earlier this week.
