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Broker facilities and increased US domestic appetite are accelerating the softening. -
The company’s parent MS&AD reported group profit of 691bn yen for the year.
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The carrier benefited from top-line growth and lower adverse PYD.
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P&C combined ratios were higher than Q1 2024, and wildfires impacted Hannover Re most.
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Tornadoes have killed at least 32 people in three states.
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Motion Specialty will initially focus on high value home and flood insurance in the US.
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Delegates welcomed the FCA’s red-tape cut, but said more is yet to come.
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The programme will succeed the previous buyback launched in 2023.
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The platform could help reduce claims-cash holding times by 10 weeks.
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The CUO noted that market-wide rate change in Q1 was down 3.3%, coming in below plan.
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The undiscounted combined operating ratio worsened slightly to 96.6%.
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The revision is significantly lower than the $4.5bn October estimate.
