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Reinsurers fended off 20% cuts, but wildfires pleas failed to hold pricing flat. -
The executive, Everest CEO from 1994 to 2013, has served as board chair since 1994.
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Cat losses from Helene, Milton and the Oklahoma tornadoes will fall within expectations.
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The syndicate expects to book a combined loss of £39mn from hurricanes Helene and Milton.
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The March 13-16 storms would mark the first billion-dollar US SCS event of the year.
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The syndicate achieved a profit despite a “relatively heavy” catastrophe year.
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The broker has promoted Oriol Gaspa Rebull to global head of analytics strategy.
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The broker said that businesses not investing in AI capabilities would be left behind.
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MAP’s Christopher Smelt said impact on nationwide programmes will cause risk aversion.
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The firm also promoted Devin Inskeep to an expanded role as SVP, head of ratings and advisory.
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Sources warned some property XoL books are already running 50% loss ratios.
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Cyber, marine and aviation are recent areas of focus.
