Pol risk, credit & surety
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The transfer to Luxembourg includes mainland European commercial policies written in London.
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AM Best has also downgraded Merced to F after the company was "overwhelmed" by wildfire claims.
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The 7.0 magnitude quake damaged almost 50 roads and bridges
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The carrier gained regulatory permission to set up the Brexit subsidiary in October.
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The entity is the first to be authorised as a captive insurance manager by the Abu Dhabi regulator.
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There has been an outbreak of common sense in mainland Europe.
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Regulatory claims against directors are on the rise as cyber dominates companies’ fears, a Willis report finds.
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The move will cost the carrier almost $114mn in gross written premiums. -
The expansion comes after the MGA gained backing last year from Preservation Capital.
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France, like Germany, is planning to legislate to ensure existing policy holders will be able to receive claims as a backstop arrangement.
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The move would relieve the contract continuity conundrum for UK carriers operating through German branches after Brexit.
