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The bill removes a previous Farm Bill requirement mandating that carriers purchase unlimited catastrophic reinsurance. Instead, companies can purchase “adequate” catastrophic reinsurance. -
Social inflation continues to prove challenging in the casualty space and is rebounding post-Covid.
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Deans joins from CNA Hardy, where she was a property underwriter since 2010.
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The D&O market continues to soften, following several years of substantial rate increases.
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Aon-owned Mexican cat modeler ERN estimated Otis insured wind losses, excluding auto and infrastructure, at $1.2bn-$1.8bn.
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A-Star offers up to $80mn in additional capacity for D&O liability insurance.
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There is an increasing focus in the casualty reinsurance space on social inflation and litigation funding trends.
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The CEO was speaking on the back of the carrier’s Q3 results, where it confirmed it would be returning $169mn to investors by way of a $119mn special dividend and offering up to $50mn in buybacks.
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The decline marked the sixth consecutive quarter of double-digit pricing declines.
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With US third-quarter reporting season being well underway, the results so far highlight further runway for the hard property E&S market.
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The carrier has been in hiring mode in recent months after staff exits earlier this year.
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Reinsurers are also determined to secure structural changes and payback from Italian, Slovenian and Turkish cedants at 1 January 2024.
