QBE
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The regulator alleges customers were promised discounts they did not receive. -
The reinsurer’s A&H head Simon Parkinson left earlier this year to join Redriff Underwriting.
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Negligence must be proved to cover any loss of life for passengers under P&I cover.
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QBE has “effectively stopped writing new business” in response to its New Caledonia loss.
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The legacy firm said the deal would strengthen its Bermuda operations.
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The transactions will de-risk all North America middle-market reserves up to 30 June 2024.
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The international business grew premiums by 12.5% over the period.
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Loss assessment is ongoing but the event looks likely to be a total loss.
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The Mexican state oil company delivered the upstream market its largest claim in 2023.
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Reinsurance sources say the pool targets the wrong aspects of Australian cat losses.
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Ambac Financial Corporation recently acquired a majority stake in Beat.
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The company will now focus on its better-positioned businesses.
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