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The former reinsurance CEO had previously parted ways with Bob Cooney after working together on a reinsurer start-up last year. -
The decisive move to replace Laurent Rousseau early in his CEO tenure was about “timely decisions”, the Scor chairman said.
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Mayor Wayne Brown said infrastructure and emergency services had been overwhelmed by the storm’s impact.
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Plus all the top news and latest people moves of the week.
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Speaking on the company's Q4 conference call, the executive said the market should not assume that WRB will become a heavy cat-exposed writer.
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The CEO also heralded the group’s “best full-year brokerage segment organic performance in decades”, with a figure of 9.7%.
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In an interview with this publication, the CEO admitted the transition “took longer than any one of us would have wanted”.
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RLI renewed its property per-risk treaty with an estimated 40% risk-adjusted rate increase, and the first dollar retention went up to $2mn.
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The executive noted that the quarter marked the 21st quarter of rate increases.
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The carrier estimated losing less than $10mn of desired renewals due to exits from property and property cat reinsurance.
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Chairman Kessler remains in place until the 2024 General Meeting when he will stand down on hitting the age limit of 72.
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