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Conditions in the London market remain attractive according to CEO Aki Hussain. -
Katie McGrath is appointed CorSo CUO amid a restructure of the unit.
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The carrier announced a $175mn share buyback.
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The carrier has paid $1.75bn on around 9,500 claims filed from the wildfires.
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Cedants could choose to retain more as cross-share sell-offs boost their capital.
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Retention levels for reinsurance fell across the different geographies the carrier operates in.
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Social inflation and larger vessels are making multi-billion losses more likely.
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Good ESG practices are part of good risk management, the company said.
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The carrier expects to book $100mn-$140mn from the California wildfires.
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James Shea will lead the new Sompo P&C arm, while Yasuhiro Oba will become Wellbeing CEO.
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More than 33,000 claims had been filed as of 5 February.
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Genna Biddell will report to Brad Melvin, president and CEO, BMS Re US.
