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The carrier reported an undiscounted combined ratio of 89.1%. -
The London D&F market will shoulder most of the losses.
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Underwriting conditions in the financial lines market have deteriorated after major hardening.
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The distribution firm has accused the MGA platform of illegally recruiting staff.
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The underwriter will relocate to the London market from Genoa.
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Eric Paire was head of capital advisory at Aon for nearly seven years.
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The executive said the firm had to focus time and investment on the most meaningful projects.
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He said that “everyone’s looking for growth”, as the firm has moderated its top line projections.
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The steep reduction in quantum stands to benefit specialty excess of loss reinsurers.
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The transition will take place immediately, with Anthony Baldwin set to leave next month.
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Predicting underwriting conditions for the remainder of the year is ‘challenging’.
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