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The ILS manager said it had extracted a 43 percent rate increase from buyers of the retro product and expected rates to hold stable in 2019.
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‘Raging wildfires’ to become more common despite quietest H1 in a decade
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Who is willing to pay up when 2019 is widely expected to bring a return to pre-HIM conditions?
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Property damage increased sharply as the disaster unfolded.
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The blazes have destroyed or affected more than 2,000 buildings.
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The Hobart catastrophe is Australia's largest natural disaster so far this year.
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The state's worst floods since 1924 are estimated to generate a far lower $71mn in insured losses.
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The carrier has confirmed its Corporate Solutions arm is one of the insurers for Autostrade per l’Italia.
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Uncertainty around industry losses from the 2017 disasters was beyond what would normally be expected at this point after an event.
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Improved underwriting saw the combined ratio fall 11 percentage points to 96.6 percent.
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The former Aegis London finance director will join in September.
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The deal involves both auto and property lines and will allow QBE to focus on other sectors.
