MS Amlin
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The executive will be based in Zurich and report to international CUO Joerg Bruniecki.
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Simon Morgan will succeed Sam Geddes as head of property and allied lines.
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He will oversee the syndicate’s catastrophe modelling capabilities.
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The facility will target operators across the US, onshore and offshore.
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The result was a profitability turnaround of £300mn.
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The MS Re CEO said 1 January oversubscription levels on cat were not notable.
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The company will use MS Amlin to drive international growth.
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The carrier has rebranded its UK entity from MSI EU to MSIG UK.
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Senior underwriter Tom Horswill is to relocate from London to Dubai to lead the offering.
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Finance minister describes the activity as “widespread, repeated and continuous”.
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Current marine head Laurence Humberstone is set to retire after 19 years at the carrier.
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The improved underwriting performance was driven by reduced losses relating to Russia and Ukraine.
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The underwriter will retain his responsibilities as lead underwriter for credit and political risk.
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Grant Baxter joined the business last year and was named CUO in a restructure under CEO Andrew Carrier.
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The executive has also worked for Aviva in senior group finance roles.
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Insurance Insider has compiled a bite-sized wrap-up of the exclusive news stories and CEO interviews from this year's Monte Carlo Rendez-Vous.
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The executive will move to the (re)insurer after almost two years at Gallagher Re, a company he joined after the acquisition of Willis Re in late 2021.
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Andrew Carrier said after wide ranging remedial work, the Lloyd’s carrier was targeting “measured, profitable growth” for 2024.
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The resignation follows the appointment of Sedgewick's Julie Ross to lead the team.
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The reduced impact from the war in Ukraine helped the carrier continue a spell of profitable underwriting.
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The hire follows an exodus from the recall team, as Mitchell, Fouquet and Fornah resign.
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The fronting company said impairment to Vesttoo’s LoC collateral will be "immaterial".
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Lloyd Fornah’s departure follows the resignations of Ed Mitchell and senior underwriter Vanessa Fouquet earlier this year.
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Previously, Shaw was lead underwriter at MS Reinsurance and lead underwriter at MS Amlin’s Bermuda office.
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Ed Mitchell and Vanessa Fouquet are set to join BluNiche and Dual, respectively.
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Parent company MS&AD reported a net profit for fiscal 2022 of 161.5bn yen.
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It emerged in March that Tim Welsh was leaving MS Amlin after almost three decades at the business.
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The pair will report to CRO Vishal Desai.
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MS Amlin has added ex-JLT broker Lacy Lighterness to its cargo team.
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MS Amlin Syndicate 2001 – one of the largest in the Lloyd’s market – reported a combined ratio of 99.9% for 2022.
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The results show 2022 was the first year in which MS Amlin Syndicate 2001 has reported an underwriting profit since 2015.
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Jessica Turner will report to Martin Burke, director of underwriting performance.
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The property underwriter has also worked for Beazley and Liberty Mutual.
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The appointment follows the business unit’s rebrand last year.
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Alun Thomas will report to Bermuda CEO Chris Bonard.
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Group CEO Noriyuki Hara told NikkeiAsia the company was targeting groupwide adjusted ROE of 10% by 2025.
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Execution of the legacy transaction ticks off another major piece of work for MS Amlin in its turnaround of Syndicate 2001.
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The carrier also recorded a deterioration in investment performance amid financial market turbulence.
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His departure comes after a phase of rebuilding the carrier’s commercial property team.
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The vehicle was upsized by 20% from 2022.
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Having joined the company in 2016, the executive was working as a lead underwriter in LATAM prior to the announcement.
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As a decline in InsurTech investment continues and risk capacity providers reconsider their support, sources expect many InsurTech MGAs will have to review and potentially pivot their business models.
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Andrew Carrier’s appointment as CEO was announced in October, with Andrew Slabbert taking on the top role at MSIG in the US.
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The CVC-backed legacy player edged out Enstar in the process which was run by Gallagher Re.
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The pub group and bakery chain will dispute elements of judgements issued in October in UK Covid-related BI lawsuits.
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The carrier also posted £97mn of Ukraine losses and a £157mn investment loss.
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The Lloyd’s carrier said the strategy will support profitable growth, attract staff and help meet regulatory requirements.
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The process has been narrowed, with parties including Catalina and Premia not going forward.
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Many policyholders are likely to receive larger payouts following the judgement, but a worst-case scenario has been averted.
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Paul Evans joins from Tokio Marine Kiln and will report to Malcolm Barnes, head of marine reinsurance.
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The failings occurred during the period between September 2014 and December 2019.
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Stonegate’s case is seen in the market as a key precedent for the aggregation of BI claims.
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Slabbert’s appointment comes after Mitsui Sumitomo’s recent acquisition of US hybrid fronting carrier Transverse Insurance.
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Simon Morgan will take up his role in November after nearly 15 years at Hiscox.
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Under new CEO Robert Wiest, the company is implementing a new operating model.
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The carrier has strengthened its reinsurance and political risk/trade credit division.
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The deal is split into a ~£1.1bn reinsurance-to-close deal and a ~£100mn loss portfolio transfer.
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Clubs including Arsenal, Aston Villa and Leicester City are claiming against insurers.
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The business attributed the losses to Ukraine claims and a negative investment performance.
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Grant Baxter will take up the role towards the end of the year.
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The suit is the latest in a series of Covid-19 BI legal actions hinging on aggregation brought against insurers.
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The parties gave their final submissions following a legal hearing that has lasted over two weeks.
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The insurers also claimed that Stonegate’s desired treatment of furlough payments would lead to it being ‘over-indemnified’.
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The pub company is looking for a payout at every one of its 760 premises, whilst insurers claim it is entitled to a single limit.
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The pub chain has claimed in court that it is entitled to separate payouts for each of its 760 venues.
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Aggregation is the main issue in the landmark case brought against MS Amlin, Zurich and Liberty Mutual.
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Katie Wolff will be responsible for MS Amlin’s P&C operations in the UK.
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The product will provide construction all risk and operational all risk coverage, backed by AI-powered data and analytics.
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Plus the lowdown on the potential Howden-TigerRisk tie-up and all the top news of the week.
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Catastrophe claims were up 75% for the year, whilst Covid-19 claims shrank to £13mn.
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Robert Margetts becomes the latest senior departure from Compre, following the exit of chief development officer Eleni Iacovides.
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The carrier has bolstered its property team following several staff exits earlier this year.
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Before his departure, he held the role of head of crisis management at the carrier for two years.
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The association aims to create a “single voice” for carriers when lobbying governments and regulators
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Amid ongoing restructuring, poor performance from discontinued classes is weighing on the bottom line.
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The reinsurer will focus on three UN Sustainable Development Goals (SDGs) to help it achieve carbon-neutrality by 2050.
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The senior underwriter has worked at Sirius, Novae, Mitsui Sumitomo and Chaucer.
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The deal allows MS Amlin to carve out the P&C portfolio for 2019 and prior years in an industry first.
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The ratings agency said that the reinsurance arm of MS Amlin was expected to make a “significant” loss after tax in 2021.
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Sources described the deal as a collegiate agreement, and long term the carrier is still understood to be committed to the US property market.
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The carrier has appointed John Winder, Victoria Harding, Wendy Kriz and Maurice Rose to its risk function team.
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The unit still faced £272mn in nat-cat losses and a £58mn Covid-19 impact during the period.
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Head of property John Roberts-West and senior commercial property underwriter Katie Hunter have both left the business, with Hunter set to join Beazley at the end of the month.
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Two of the carrier’s underwriters were hired by new entrant IQUW to build its book of business.
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Gupta initially assumed the position in July 2021 on an interim basis.
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The former MS Amlin head of reinsurance takes up the CUO role next week.
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Both underwriters used to be colleagues in the marine hull team at RSA prior to Stuart Forsyth’s departure.
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The executive will join the business in early January, replacing Mike Cain.
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Chairman Robin Adam will step into the role of interim CEO until Matt Pasterfield joins the firm.
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Based in Zurich, Jörg Bruniecki will take up his new role in 2022, reporting to MS Amlin AG CUO Charles Goldie.
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Amir Sethu joins from Lendurance, a boutique ESG-focused commercial lender he co-founded in Singapore.
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Neil Williams, who spent more than eight years at Lloyd’s, will join the carrier in January.
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Excluding the catastrophe losses, the carrier would have posted a profit of £102mn.
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MS Amlin’s head of reinsurance Matthew Wilken is to leave the business for a role at Hiscox Re & ILS in Bermuda, this publication understands.
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Peter McKenna will report into Johan Slabbert CEO of MS Amlin Distribution.
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Rachael Wallington has been promoted from her current role as lead class underwriter for agriculture reinsurance.
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The executive has also worked at MS Frontier Reinsurance and PWC.
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Stuart Forsyth will start in his new position in mid-October and report directly to Laurence Humberstone, head of marine.
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Rinat Bektleuov joined in August 2021 and reports to Charles Goldie, chief underwriting officer.
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Robert Wiest takes over from interim CEO Martin Albers, MS Amlin chairman, who stepped into the role following Chris Beazley’s exit.
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The carrier said it has concluded negotiations with a replacement chief who is a ‘well respected reinsurance leader’.
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The actuary replaces outgoing CFO Reijer Groenveld, who will leave in October.
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The MGA start-up will focus on providing ESG-based insurance to LGBTQ, female and minority/ethnic-owned SMEs.
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Winter Storm Uri added 12 points to the subsidiary’s claims ratio.
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The carrier previously identified cargo as a target class in the business’s specialty build-out.
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Insurers MS Amlin, Liberty Mutual and Zurich claim that the BI policy has a maximum limit of £17.5mn.
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MS Amlin Underwriting Limited (MS AUL) has appointed Richard Bayman from Chubb as head of aviation reinsurance.
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The appointments come a week after the firm appointed Habib Kattan as outwards reinsurance adviser.
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Habib Kattan will support the implementation of the company's outward reinsurance strategy.
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James Maxwell takes up the role following the departure of incumbent Vishal Desai for personal reasons.
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Japanese carrier MS&AD Insurance Group Holdings has become the latest insurer to limit its coal underwriting appetite, saying it will no longer insure new coal-fired power plants.
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Richard Little, who boasts more than 20 years’ industry experience, was head of Marsh’s energy liability team.
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The Japanese parent predicts a bounce-back in the operations that include MS Amlin in the current fiscal year.
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Insider Louis De Segonzac will become Americas CUO, with Maria Amelio hired externally for the role of lead casualty underwriter.
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Heike Trilovszky is to chair the underwriting oversight committee, replacing Martin Hudson.
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Binding insurers include Chubb and AIG, with reinsurance from Munich Re.
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The underwriter will be responsible for D&F, binders and auto business once he joins the business later this year.
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CEO Johan Slabbert says the US specialty market offers a chance to balance out the volatility of catastrophe risk.
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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.
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The appointment to the newly created position is the latest of several management changes.
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The marine hull and war underwriter will rejoin former colleague Chris Goddard, who launched the start-up last year.
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Excluding Covid-19, the carrier’s combined ratio improved 4 points to 98% for the nine months to September.
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Vishal Desai will replace Giles Holland as CRO while Catherine Scullion takes a newly created role.
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Plus a mixed week for Lloyd’s, the asbestos potential of Covid-19 claims and a round-up of our most-read stories from the week.
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The mixed ruling delivered by the High Court meant insurers escaped from worst-case loss scenarios.
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The vehicle is the first sidecar launched in Singapore and will cover regional risks.
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The executive left PartnerRe in March of last year following a reorganisation of the company.
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There will be significant movements in the ranks of the top 10 syndicates in 2021, with Brit moving into second place and Axa XL tumbling to 7th.
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The carrier cut back net written premiums in its overseas operations by 12.3% following restructuring at MS Amlin.
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The fundamental issue of causation, as well as trends clauses and the Orient Express judgment, will be under scrutiny.
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The carrier will continue to provide capacity for the business, which will rebrand as Haven Knox-Johnston.
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The leadership switch follows a restructuring of the CUO function of the Lloyd’s business, and is the latest in a series of changes across the wider group.
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The move marks the latest sign of capacity retreat from the sector.
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The carrier will continue to write reinsurance treaty and crisis management business in the territory.
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The hotly anticipated judgment will be a milestone in the ongoing dispute about how carriers respond to Covid lockdown-related losses.
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Specialty CUOs Andrew Wright and Mark Clements, and reinsurance CUO Phil Wooldridge step down as the newcomer is charged with “repositioning”.
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The London market business booked the majority of its Japanese parent’s fiscal Q1 Covid-19 losses.
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Insurers involved in the Financial Conduct Authority (FCA)’s test case for BI disputes have contested the regulator’s assertion that the Covid-19 outbreak was the proximate cause of insureds’ losses.
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Carriers must “stop the clock” on claim time limits from today until the court outcome.
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The late July High Court hearing will also involve Arch, Argenta and QBE.
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The Japanese parent predicts a Covid-19-related drop in fiscal 2021 earnings.
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The newcomer replaces Gilles Bonvarlet, who will become an independent non-executive director.
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The unit’s former chief will work alongside current CEO Chris Beazley.
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