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The carrier’s overall P&C combined ratio improved by 1.4 points to 91.6%. -
The reinsurer said discipline was now “equally important as price”.
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The reinsurer is “well on track” to achieve $4.4bn in net income for the full year.
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P&C GWP grew by 7.1% to EUR26.8bn over the period.
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The (re)insurer has a higher-than-average Jamaican market share.
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The ILS start-up was founded in January by Hanni Ali and Peter Dunlop.
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On a net basis, premiums written were up 4.7% to $641.3mn.
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Insurance penetration varies, but hotels have “near-total” coverage and strong limits.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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Cyber, mortgage and crop were identified as attractive growth areas.
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The carrier said nat-cat losses remained “well below” those of prior years.
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The carrier’s retail division saw premiums increase by 7.3% to $2bn.
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