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The executive told this publication he will have more time “to propel” embedded auto MGA In The Car. -
The company said the reduction was due to years of steady improvements.
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The programme’s total limit this year is down $594mn to $1.36bn.
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The broker noted a “significant variation” in renewal outcomes.
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The measure could have landed insurers with extra tax on US business.
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The broker built out Lockton Re’s US casualty and professional lines treaty book.
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Willis’ continued reinsurance build-out has targeted London and Bermuda marine and retro specialists.
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The new unit – Ceded Re – will operate under the leadership of Guy Van Hecke.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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SRCC exposures are being studied more closely but fixing aggregation issues is a challenge.
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R&Q Gamma’s outstanding liabilities predominantly relate to the UK P&I Club.
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The appointments are pending regulatory approval.
