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The insurer also hired ex-Chubb SVP Lope Garcia as chief claims officer -
Romel Salam, former Validus Re CRO, will also join Solis as an advisor.
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The executive has worked for Aon, Steadfast and Argenta.
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The figure is well above the historical average of $39bn for this century.
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Markel executive Alan Rodrigues will lead the unit.
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The executive said challenging loss cost trends were contributing to rate rises.
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Allstate’s total pre-tax cat losses for H1 2024 were $2.85bn versus an estimated $4.39bn in H1 2023.
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Earnings per share were up 10%, while the margin expanded by 1.3 points.
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A roundup of all the news you need today, including Marsh McLennan Q2 results.
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Most of the losses occurred in Bavaria and Baden-Wuerttemberg.
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Trade, technology, weather and workforce were identified as the main mega trends.
