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Around 80% of the losses are expected from the reinsurance business.
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Analyst Philip Kett estimates US winter weather losses at $15.3bn.
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The club says the P&I aspects of the claim were “modest”, with the exception of a disputed loss of reputation claim.
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Reinsurers are still hoping to achieve double-digit rate increases, but brokers and cedants suggest this is unlikely against the context of strong reinsurance supply.
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States most impacted include Alabama, Mississippi, Texas, Georgia, and Tennessee.
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The industry association reports 37,858 claims lodged so far.
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Much of the delay caused by the blocking of the Suez Canal is likely not insured, although any claims process will be long and complex.
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The data company describes the first quarter as benign.
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The comparatively small line of business accounted for almost half of gross Covid-19 losses.
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The carrier reported a combined ratio of 104.5% but said there were opportunities ahead in 2021.
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The carrier posts a combined ratio of 112.3% and a 26% reduction in premiums.
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MS Amlin Syndicate 2001 fell to a loss of £178.1mn ($244.9mn) for 2020 following a £136.0mn net hit from Covid-19 and a string of natural catastrophe losses.
