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The carrier is the first Fortune 500 company to take a stake in a League Two club. -
In trying to solve multiple needs, specialty reinsurance opens up complexities.
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California wildfires were the reinsurer’s largest H1 loss, at EUR615.1mn.
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Rachel Sabbarton has been promoted to CEO at Lancashire Syndicates.
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Both organisations still predict an above-average hurricane season.
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The carrier cited elevated cat and large-loss activity, including the LA wildfires.
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The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
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The move will impact around $50mn of gross written premiums in total.
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The carrier’s overall P&C combined ratio improved 1.8 points to 91.2%.
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The Swiss carrier improved its P&C combined ratio by 1.2 points to 92.4%.
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Cat losses of $1.5mn, net of reinsurance, were primarily due to severe convective storms.
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This publication reported yesterday that Talanx was closing in on the sale.
