Insurers
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Plus the latest people moves and all the top news of the week. -
The programme will succeed the previous buyback launched in 2023.
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Competition is high in specialty reinsurance as new capacity enters the market.
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The carrier’s overall P&C combined ratio improved 0.1 points to 91.8%.
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The undiscounted combined operating ratio worsened slightly to 96.6%.
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The Bermudian's first quarter cat losses totalled $333.3mn, compared to $103mn a year ago.
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The revision is significantly lower than the $4.5bn October estimate.
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Insurance Insider revealed earlier this week that the underwriter had resigned from Allianz.
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The consultation is a “welcome change of approach” from the regulator.
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Soft conditions have led to “less acute" underwriting discipline, sources said.
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Plans include a new definition of commercial customers and lead insurers compliance only.
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