Operations/tech
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The milestone was set out in a combined all-staff townhall as the firms look forward to an H1 close. -
Natural catastrophe losses were up 40% year-on-year to $76bn, 7% above the 10-year average.
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The new Syndicate 1796 is the conduit for the initiative and is backed by 14 global (re)insurers.
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The 10-year and 30-year bonds will be issued in a private placement.
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The transaction marks a return to the subcontinental insurance market after a five-year hiatus.
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The client tool will provide real-time data on pricing, profits and claims.
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The acquisition of the digital-only broker is part of GRP’s ‘omni-channel’ approach.
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Tom Shewry will take on the role on a permanent basis, after having been appointed interim CFO in September.
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PI underwriter Dean Kiernan joins from RSA and property specialist Donna Stroulger from Mapfre.
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The firm says the appointment helps to position itself as a “challenger” in the segment.
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The local Organising Committee expects to receive around 50bn yen ($481mn) for the initial delay.
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Fiona Larnach will start in March next year as Peter Grewal returns to the UK.
