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The run-off book is said to hold around $500mn in reserves. -
Limited loss development from HIM hurricanes has dampened rate hikes, the broker said.
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The spate of Bermudian deals pointed to the quality of the carriers, Duperreault said.
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Swiss Re makes a cash injection into the parent of the Rhode Island legacy carrier.
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The German giant is upbeat on property cat, but warns of Irma creep.
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The Cincinnati-based insurer has given Reith and the management team permission to explore an MBO.
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It was previously managed on a rotational basis by Munich Re sand Swiss Re.
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The storm struck the Japanese island of Shikoku last week at the equivalent of a Category 3 hurricane.
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The two parties are understood to be nearing an agreement on the sale of £1.6bn of Zurich’s legacy UK employers’ liability exposures.
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The final outcome of 1 January looks likely once again to counter the typically bullish commentary from reinsurers at Monte Carlo.
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The storm has strengthened to a Category 2 hurricane as it moves in a northwestern direction.
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The legacy arm of Axa has agreed to acquire a EUR85mn portfolio of Sovag’s inward reinsurance business and direct business.
