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Mutual Zenkyoren is expected to reduce its purchase this year. -
Exposures to property are growing materially in the riskier geographies.
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The Marco Capital company will target the captives market.
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Its PE owners have been exploring strategic options since May last year.
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The Australian carrier has a full-year natural peril budget of A$1.09bn.
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The carrier added casualty reserves of more than $500mn during Q4.
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The newly launched Marco Re will be led by Mark Elliott as CEO.
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The carrier said it has acted prudently on 2016-19 GL loss trends.
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Being underweight US casualty gives the firm more room than peers to manoeuvre.
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CEO Booth said there is “continued interest” in the NA captive market.
