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The state-backed carrier anticipates 70,800 claims from last year's hurricane and a litigation rate of 30 percent in personal lines. -
The range excludes losses including business interruption and auto claims in mainland China.
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Paramount’s growth dropped this year and its combined ratio deteriorated.
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Hong Kong looks set to bear the brunt of the cost, which could match or exceed the $6.8bn wrought by Hato, according to RMS and AIR executives.
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Claims could eat into the National Flood Insurance Program’s reinsurance treaty.
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The negotiations enter an advanced stage as the David Ross-led bidder continues to pursue MGA Nexus and work on the sale of its UK general commercial MGA.
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The first court hearing will take place next month for a transfer the Corporation hopes to complete by the end of 2020, CFO John Parry says.
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William Bennett will underwrite all property reinsurance lines at Lloyd's, with a focus on US regional and mutual property reinsurance business.
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Jeff Greenberg's private equity firm enlists Evercore and Macquarie to explore options for the Lloyd's motor insurer.
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Outgoing CEO Inga Beale reports a marginal improvement in underwriting results, buoyed by reserve releases.
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Nothing is ever as short-tail as it seems.
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A large hail event drove more than a third of the losses
