Munich Re
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Three Lloyd’s syndicates have indicated they will close in the last month. They wrote $670mn combined in the last year disclosed.
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Ergo's Achim Kassow will replace the executive on the management board after he leaves for personal reasons. -
The MGA will initially write mid-market cyber and professional liability business.
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The executive will work alongside Diane Link, who joined Munich Re Specialty Insurance in April.
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The partnership, which offered a $100mn line size, will no longer accept new business.
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Jenny Yu, who was at the German reinsurer for nine years, will join the broker in January.
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Suramericana is facing at least $150mn in claims from civil unrest in Chile over the last six weeks, the company has confirmed.
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The new executive will oversee all of the group’s US financial operations.
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CEO John Neal said Munich Re’s SIAB will bring a “very different product set” into the market.
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The four European carriers have significantly outpaced Bermudian reinsurers in GWP growth so far this year.
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Speaking on an analyst call CFO Christoph Jurecka said that the reinsurer had been revising its US casualty books since 2017.
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Major loss expenditure soars from a year earlier, while the carrier predicts a large loss from Hagibis in Q4.
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