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Losses were primarily driven by personal property lines. -
From aviation claims to retention challenges, underlying dynamics will take time to play out.
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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier’s chief buyer urged a partnership approach from reinsurers.
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Bazan Group’s refinery near Haifa was badly damaged by Iranian bombardment in June.
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The aviation market may prove an outlier following a disastrous year of loss activity.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
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The executive said claims can be a differentiator in a softening market.
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The ratings agency warned negative PYD on US casualty will likely continue.
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The ratings agency was presenting its outlook ahead of the Monte Carlo Rendez-Vous.
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The firm has also updated the loss-calculation engines of existing Jeannie tools.
