QBE
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The underwriter has worked at Hiscox, Lloyd’s, Chubb and Zurich. -
The platform aims to “bend the loss curve”.
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The carrier notified California regulators that it would stop renewing plans starting last month.
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Tim Barber joins from QBE Re, where he was head of North America.
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The broker announced the launch of its cross-class facility this week.
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She was most recently claims manager at QBE France.
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The carrier cited elevated cat and large-loss activity, including the LA wildfires.
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Bridges joins from QBE, where he spent over 17 years.
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Last year, the firm obtained a Class 4 license in Bermuda.
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Bridges had been at QBE for 17 years.
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The claim hits the downstream market following a loss-hit start to the year.
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There have been several personnel moves in the fast-growing tax insurance space recently.
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Andrew Kane has spent eight years at QBE.
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The carrier incurred claims from LA wildfires and flooding in Queensland.
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The facility provides follow capacity to US and international placements.
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The steep reduction in quantum stands to benefit specialty excess of loss reinsurers.
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Retention levels for reinsurance fell across the different geographies the carrier operates in.
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Fast Track is led by QBE and backed by Canopius, Arch and Beazley.
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Capacity will be available to 11 open-market lines of business.
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Anthony Norfolk joins from Swiss Re, where he was a senior engineering underwriter.
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The insurer will focus on UK regional growth and opportunities in cyber for the coming year.
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The insurer has renewed separate three and five-year arrangements.
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The appointment comes after the departure of Mark Benbow, who is joining Westfield.
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The move marks a return to underwriting for Michelle Boyd, who worked at Axa XL and HDI.
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The carrier’s lower hurricane exposure was driven by portfolio exits and optimisation.
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RiverStone is assuming $1.2bn of a $1.6bn legacy deal.
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A significant amount of new capacity has flowed into the political violence and terror market in recent months.
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The regulator alleges customers were promised discounts they did not receive.
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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.
