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Several Lloyd’s syndicates are also now providing cover for the federal insurer. -
The underwriter will fill a newly created role at AIG.
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Join senior market leaders for a forward-looking discussion on performance trends, pricing dynamics, M&A signals and risk appetite across both admitted and E&S segments.
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Carriers posted weaker top-line results but delivered improved combined ratios.
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The MGA began offering US commercial E&S property products in December.
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The carrier now expects to deliver full-year operating profit of ~£2.2bn.
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James Kelly joins from Besso, having held senior positions at JLT, Lockton and Gallagher.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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The executive said the firm has grown its casualty business by 80% from 2022.
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Interim CUO Nick Pritchard turned in his notice in August of this year.
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Widespread underinsurance and low exposures will limit losses.
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Many commercial risks will have London coverage, but insured values are relatively low.
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Rates pulling back will rein in some of the excess margin obtained over the past three years, he said.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run to 30%-250% of the country’s GDP.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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APIP is one of the world’s largest property programs.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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Total pre-tax favorable prior period development in the quarter was $361mn, up nearly 48% YoY.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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Though wildfire losses are up, total losses are the lowest since 2015.
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Brian Church has spent 20 years at Chubb.
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Willis claims at least two $1mn accounts were also unfairly lost to Howden.
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Declared events totalling just under A$2bn ($1.3bn) included one cyclone and two floods.
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Julia Graham played a key role in the UK's introduction of captive-friendly regulation.
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The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
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The pair have expanded remits overseeing property and specialty.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The underwriter has worked at Hiscox, Lloyd’s, Chubb and Zurich.
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Marlon Williams will focus on the placement of reinsurance and retro business.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The executive met with UK colleagues to discuss plans for the US business.
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Property remains the dominant line, accounting for nearly 30% of total London premiums.
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Reinsurer executives stressed that the industry worked hard on setting the right structure.
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