Pol risk, credit & surety
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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.
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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.
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The ratings agency noted Citadel’s worsening losses and reserve development.
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The carriers’ aggregate Solvency II ratio lags behind many European peers but is well above the floor level, the ratings agency said.
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Our smart friends at Litmus Analysis recently wrote a blog that got us thinking.
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The carrier predicts an underwriting result of 1 percent of net earned premiums in 2019 and 2020.
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Changes to the definition of default could hamper insurers and derail debt restructuring efforts.
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