Munich Re
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Root plans to use the additional capital to bring its smartphone-based cover to more US states. -
First-half data shows an improved combined ratio failed to prevent underwriting results erosion.
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Reinsurers set to pick up substantial portion of the losses.
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The Australian carrier’s cover was boosted by quota shares with European reinsurers.
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The Insider 50 contracted by 1.0 percent last week, as 35 companies in the index posted negative share price movements.
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The P&C reinsurance division reported an underwriting loss for the three months to 30 June.
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The German start-up is close to raising more than $200mn.
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CEO Joachim Wenning said the reinsurer would no longer insure new coal-fired power plants or mines in industrialised countries.
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In the newly created role, he will also collaborate with the cyber team of Chaucer.
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The CNA veteran will focus on marine and specialty offerings in North America.
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Carriers battle actuarial talent shortages even as preparations for the new regime advance.
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Brit-Advent merger and Channel’s restructure in London point the way to coming changes.
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