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Two thirds of London losses are expected to be ceded via the Sasria reinsurance placement, while another third could come via a Howden BI wrap binder, sources said. -
The reinsurance MGA launched its political violence and terrorism business line in April 2021, appointing Zouheb Azam as head of the division.
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The jailing of ex-president Jacob Zuma over corruption charges has triggered civil unrest this week.
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The consortium, created with China Re, will later expand to include other lines of business.
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InsurTech Skyline Partners’ parametric platform will inform insureds of a relevant incident within 48 hours.
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Staff displacement at Aon and Willis is increasing as the brokers move towards completion of their mega merger.
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The exit from the class follows a similar decision by Beazley earlier this year.
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The area has historically attracted low additional premiums because of Israel’s strong defence capabilities.
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Protests have been raging for a week, with notable damage to police stations, buses and bus stations.
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The start-up has been hiring extensively in political violence, with the latest appointment bringing the team to seven.
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Luke Bennett has worked at the broker for nearly a decade and prior to that worked at Marsh.
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CEO Mikir Shah said he was delighted that the new recruit will be joining to launch a "new line of business".
