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The CEO said business remains adequately priced in most classes. -
The carrier is reducing its exposure to quota shares and shifting to XoL.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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Insured losses produced the second highest first-half tally since records began in 1980.
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Bridges joins from QBE, where he spent over 17 years.
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Some 185 credit claims were reported in the market, totalling over $400mn.
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Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.
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The impact on the (re)insurance market has been muted due to its strong capital position.
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Plus, the latest people moves and all the top news of the week.
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Claims were concentrated in the US, with a significant increase in D&O class actions.
