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The CEO also addressed the carrier’s MGA strategy and the impact of the abandoned take-private attempt. -
The carrier said a greater number than usual of North Atlantic storms are possible despite El Niño conditions.
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The CEO said Chubb has ‘never seen better pricing’ on primary property.
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The reinsurer said it was monitoring conditions in the property E&S markets, where it has been reducing capacity to grow in property treaty, as rate gains could provide fertile ground for future growth.
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The first quarter of 2023 has already gone down as the costliest on record for the peril in the US.
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Insurance Insider has gathered data on geographical areas prone to cat events, which are outside of southeastern US states, that keep weather experts awake at night.
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With SRCC losses on the rise in recent years, the French riots have thrown a light once more on the dislocation within the political violence market.
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The utility previously bought a $1bn policy from the (re)insurance market.
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The Dutch carrier will remain active in life risks and reinsuring its parent Achmea.
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The Australian carrier has also renewed a five-year whole-account quota share with Hannover Re.
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Loss-free accounts were generally up 20%-50% at renewal, the reinsurance broker said.
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The Australia and New Zealand carrier faced additional costs of A$250mn to renew its programme for the new fiscal year.
