Lancashire
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The new Sydney-based platform will initially focus on direct and facultative (D&F) commercial property in the Australian and New Zealand markets. -
The carrier has previously announced an intention to buy up to one million of its common shares.
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The executive also noted that the carrier expects to maintain its cat footprint for 2022, despite recent losses.
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The biggest increases in GWP came from the carrier’s P&C reinsurance and P&C insurance segments.
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The hire comes after the intermediary agreed to buy Bermudian business Foram.
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The carrier said the claims stemmed from Hurricane Ida and storms in Europe.
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Despite a somewhat mixed outlook, UK listed carriers London players say they are still leaning into growth.
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The CEO said investors would be "scratching their heads" if hurricanes dragged insurers to a loss.
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CEO Alex Maloney said the carrier was starting to ‘reap the benefit’ of three years of rate growth.
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Analysts believe 2021 will be a “transition year” for Hiscox, Beazley and Lancashire.
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The carrier has been rebuilding its team after Alasdair Butler and Lee Aspinall left to launch an MGA.
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Plus the lowdown on CFC’s syndicate capacity and all the top news from the week.
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