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The sanctions will further complicate the delayed construction of the 2,460 km pipeline between Russia and Germany.
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The business segment, which includes HDI Global Specialty, has already exceeded its full-year large loss budget.
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The Hammerfest loss is thought to be ~$500mn and well spread around the market.
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Guido Benz will join the business next spring and report to Lee Meyrick
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Peter Draper was AFL’s international property and energy director, and before that worked at UIB for 13 years.
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The executive will lead the marine and energy mutual, agency and captive reinsurance solutions practices.
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Matthew Holmes and colleagues move to the Lloyd’s operation after Dubai-based MGA Elseco restructured its energy portfolio.
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The executive leaves Aon after 13 years
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This is just 26% of theoretical capacity of $3bn and has led to major clients self-insuring parts of their programmes, according to Willis.
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Carriers are imposing 7.5%-10% rate rises on accounts with less than $1mn premium, the broker finds.
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The Tokio Marine HCC MGA takes Zoe Massie from AGCS and confirms the hire of Talbot’s Joshua Cantwell.
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The loss record for the class has dramatically improved this year, with a worst-case loss scenario of around $2.5bn for 2020.