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Underwriters are pushing for rate rises, but competition is increasing. -
The carrier has been hiring after the launch of a new specialty practice.
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Firms issued notice in respect of some commercially reinsured war risks.
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The ratings agency said most P&I clubs had achieved pricing adequacy.
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Scor’s Nicola Hannay has been appointed head of power generation.
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Paul Western has been promoted to head of hull underwriting.
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The marine market has had several new MGAs launch into the sector.
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Coverage is still available, but large losses could “move the dial” on pricing.
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The carrier has also hired Craig Bedford as specie underwriting manager.
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The carrier is expanding its marine footprint in 2024 through its Lloyd’s and London branch.
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Swiss Re will transfer its Genoa-based hull business to Dual Europe and provide the MGA with underwriting capacity.
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Sources said that the market was not sufficiently profitable to concede ground on pricing.
