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The estimate covers property and vehicle claims. -
The organisation has released its mission for 2025 and signed a MoU with the ABI.
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The broker attributed the drop to smaller average deal sizes over the quarter.
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Genna Biddell will report to Brad Melvin, president and CEO, BMS Re US.
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The Australian carrier disclosed A$426mn in net cat losses during H1.
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The carrier is “extremely well capitalised” to achieve its strategic ambitions.
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Newer swing products offer an alternative way to deal with escalating awards.
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Its post-tax estimate of $1.3bn is net of reinsurance recoveries.
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Underinsurance, total loss claims, and high property values have impacted loss estimates.
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The annual claims totalled £5.7bn, the largest amount paid out in any year.
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The storm is likely to be one of the costliest weather events in Canadian history.
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The broker said clients could expect to see double-digit rate decreases this year.
