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The LMA report focused on first-party property damage from a coverage perspective and on eight key sectors. -
Chris Cane and Jaime Hunwicks join from Talbot, Jonathan Bint from Chaucer and Molly Ashcroft from Axis.
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The loss of the major account has been a substantial hit to budgets for some carriers.
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Robert Rechtern has spent the last two years at Lockton as head of A&H, sport & contingency.
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The syndicate will continue to diversify its portfolio but growth will be “more conservative” in 2025.
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The carrier also warned of “uncertainty” around 2021 due to exposure to “Western-leased aircraft in Russia”.
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Syndicate 318 has been expanding into specialty classes over the past few years.
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Areas with growing demand and complexity include natural catastrophe and cyber, it said.
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The IG’s $3.1bn reinsurance tower is facing double-digit pricing increases in the wake of the Baltimore bridge disaster.
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Underwriters are broadly pricing on the basis of a $1.5bn Baltimore claim, but there is uncertainty.
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The underwriter was head of W&I for the UK and Ireland at Mosaic.
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Sources said that Nacional would only consider a bid north of $150mn.
