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The transfer, which includes most of the Hiscox USA surplus lines broker business, secures coverage of Hiscox reserves valued at $520mn. -
The intermediary also warned that inflation headwinds could affect the future cost of claims.
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Plus a new London SPAC, CII criticism and all the week’s top news.
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Continued rate momentum and retention drives growth in the carrier’s global specialty business.
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The start-up's new hire was a founding member of the leadership team at Fosun-owned Peak Re.
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At group level the pandemic has a positive effect thanks to reduced motor claims.
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Severe and winter weather losses in the US hit $21.4bn during January-April, equity research analysts estimate.
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The region braces for a potential Category 1 landfall.
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The executive will take up the Hong Kong-based post on 1 September.
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This came as the insurer said its reinsurance programme was oversubscribed and it expected rate increases to be in a mid single digit range.
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The deal will cover commercial auto liabilities occurring in the two years ended September 2020.
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The February Deep Freeze has already pushed cedants to access reinsurance, adding fuel for rate rises later this year.
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