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The broker said that pricing dynamics would require careful management, but adequacy remains -
A roundup of all the news you need today, including Swiss Re’s US liability reserve strengthening.
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Steadfast Group is Australasia’s largest general insurance broker network and has been expanding in Europe.
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Rates are continuing to soften in D&O and cyber, according to CFO Paul Cooper.
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Only around EUR70mn-EUR140mn will fall to private insurers.
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The carrier’s Q3 net income will be around $100mn, far below consensus.
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The carrier’s retail division saw the largest growth at 4.7%.
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Major-loss expenditure doubled to EUR1.6bn for the quarter
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The carrier has pegged preliminary pre-tax Milton losses at less than $200mn.
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Hamilton reported a $30mn-$70mn net estimate for Hurricane Milton losses.
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Hurricane Milton is estimated to have a net negative impact of $275mn on Q4 results.
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The company has written over $100mn in gross premium in the US this year.
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