QBE
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Suncorp, IAG and QBE reinsurers could face significant recoveries after a landmark court ruling.
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The Australian carrier takes a A$865mn provision for BI losses following the unfavourable court ruling.
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The carrier will expand 11% across Syndicates 2999 and 386 to manage a combined £1.58bn of capacity. -
The fundamental issue of causation, as well as trends clauses and the Orient Express judgment, will be under scrutiny.
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The executive has worked at Axa XL and legacy XL Catlin since 2011.
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Former international CEO delays retirement to fill top job gap, as Harris takes his role.
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The departure coincides with the exit of CEO Richard Pryce.
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The executive will work alongside outgoing chief Richard Pryce for the next few months.
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The latest estimate is marginally below a previously disclosed $75mn UK BI claims cap.
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Former CEO walks away with only A$310,000 payment after staff complaint.
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The hotly anticipated judgment will be a milestone in the ongoing dispute about how carriers respond to Covid lockdown-related losses.
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The carrier targets liability growth in 2021 as pricing hardens.
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