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Matt Foster joins Coalition following an eight-year tenure at Munich Re. -
The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.
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Top concerns also included medical cost inflation and employee benefit costs.
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Glyn Thoms will be stepping into a newly formed role with a focus on cyber strategy formulation and management.
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Envelop Risk Solutions will provide technical assistance and advisory services.
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Sources said that for reinsurers to meet this demand, they will need to get comfortable analysing and evaluating systemic and aggregate risk.
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Improved profitability has led some insurers to increase their own retentions.
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Coalition Re to offer active cyber reinsurance via two products supported by Aspen-led capacity.
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A whitepaper published by the two companies set out measures that could create cyber insurance capacity.
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Portfolios of clients of varying size in the same region aggregate more risk.
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The July downtime will increase relevance, demand and innovation for the market.
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Lancashire was the only carrier to see double-digit growth in insurance revenue for H1.
