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The CEO said that IGI’s action within its PI book showed it was ready to walk away from unprofitable business. -
The carrier has been exploring launching into P&C organically or via acquisition.
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Several airlines are understood to have come to market early.
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After losing in the High Court, insurers pin their hopes on the Court of Appeal.
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The aviation market may prove an outlier following a disastrous year of loss activity.
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Despite high profile losses, there’s ample capacity in marine and aviation, while PV has seen healthy profits.
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The pair were offered contracts by Willis Re in July.
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CEO Thierry Léger also stressed his intention to repair the carrier’s relations with Covea.
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CEO Tom Wakefield said property cat supply is “materially outpacing demand”.
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Donna Swillman is currently a senior underwriter at Axa XL.
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Group CEO Mikio Okumura cited “solutions that have not been fulfilled”.
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In trying to solve multiple needs, specialty reinsurance opens up complexities.
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The Lloyd’s carrier is expected to try to claim multiple times under the policy.
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The transaction is expected to have a price-to-earnings multiple of 11x.
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The medical professional liability firm is targeting further healthcare opportunities.
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The broker said the appointments are designed to drive growth.
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The company launched into the contingency market in the wake of the Covid-19 pandemic.
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Syndicate 1947 is gearing up to expand its marine reinsurance portfolio.
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The Cathal Carr-led carrier has been building its team since launching this year.
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The former Hiscox Re & ILS specialty underwriter starts on 7 July.
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The changes affect operations in Switzerland, Bermuda and the US.
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Phil Furlong has been made head of underwriting and oversight, a newly created role.
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The broker is launching a reinsurance arm in partnership with Bain Capital.
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TMK formed its specialty reinsurance unit last year.
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Competition is high in specialty reinsurance as new capacity enters the market.
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Specialty reinsurance has experienced high competition for talent.
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The underwriter left Antares last autumn.
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The only major product line to see rate increases was casualty.
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The combined business volume of the two firms is CHF20.1bn.
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Chris Gray joins from Axis, where he was global head of marine reinsurance.
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TMK is the largest insurer of aviation risks at Lloyd’s by gross written premium.
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Caution around economic volatility wrought mixed outcomes in specialty re.
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Cyber, marine and aviation are recent areas of focus.
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Some of the Big Four are slowing growth as the market softens.
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He also joined Everest’s board last week as an independent director.
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Aviation reserve strengthening added 10.1 points to the combined ratio.
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Competition for specialty reinsurance talent remains high.
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The steep reduction in quantum stands to benefit specialty excess of loss reinsurers.
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CEO Andreas Berger addressed Swiss Re’s primary aviation exit.
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The investors are led by PE firm NMS Capital Group.
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The carrier unveiled its launch last week and is hiring across its divisions.
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Capacity will be available to 11 open-market lines of business.
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Many cedants secured aggregate and subsequent coverage at 1 January.
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Reserves are likely to be set following initial court rulings this year.
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The IG said this year had been “more difficult” for the group’s reinsurance partners.
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Chairman Neil Eckert and CEO Trevor Carvey said the outlook for the market remains "very good".
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Swiss Re has retreated from its “escalation clause” for the Middle East.
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The specialty reinsurance space has experienced a recent period of talent churn.
