Commercial lines

Losses were relatively evenly divided between the two events.

The insurer said its reserving was still adequate after the court supported its overall approach, but said biosecurity exclusions were not sufficient to decline claims.

The insurer is also said to have scaled back its cession percentage to between 25%-30%, with final signings still being determined.

The appointment confirms the carrier’s prospective involvement in the rapidly hardening market.

Ceding commissions are not falling as reinsurers look to capitalise on insurers' re-underwriting.

The regulator says that the insurance sector had remained resilient this year but faced ongoing threats.

The highest court dashes lingering hopes of pre-Christmas certainty in the BI debacle.

The new Syndicate 1796 is the conduit for the initiative and is backed by 14 global (re)insurers.

The return to the office and perceived slow business recovery could also lead to claims.

The executive was an EVP at the Innovisk-hosted MGA, which will enter run-off for 2021.

PI underwriter Dean Kiernan joins from RSA and property specialist Donna Stroulger from Mapfre.

The local Organising Committee expects to receive around 50bn yen ($481mn) for the initial delay.