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The company also announced a EUR2bn share buyback. -
CEO Andreas Berger addressed Swiss Re’s primary aviation exit.
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The carrier increased premium by 7% at the January renewals.
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Cedants could choose to retain more as cross-share sell-offs boost their capital.
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The chairman said the recent events were akin to Andrew, Katrina and the WTC.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
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A higher loss quantum will put a greater burden on retro programmes.
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James Shea will lead the new Sompo P&C arm, while Yasuhiro Oba will become Wellbeing CEO.
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The role at PCS included acting as primary touchpoint for ILS.
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Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.
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But cat bonds are experiencing negative secondary market price movement.
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Bolding will focus on aligning Gallagher Securities with Gallagher Re.
