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Over the period, the Spanish carrier’s reinsurance segment expanded profit by almost 10% year on year. -
Another potential individual disability insurance loss of $40mn relates to a physician.
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Beazley leads the first $100mn layer of the programme, while Tokio Marine HCC leads the second on the Alesco-placed cover.
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The LMA report focused on first-party property damage from a coverage perspective and on eight key sectors.
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The Flex consortium will offer up to EUR/$50mn limit.
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Capital diversity can only be achieved when there are more options for third-party providers to access.
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The new proposition will offer £10mn primary cover and £15mn limit for XoL.
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There has been some strategic withdrawal of capital for younger syndicates.
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Jacob has held senior roles at Axis International and Crawford & Company.
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With the storm’s losses looking more favourable, questions over rates and gross/net strategies will arise.
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Tim Nagle succeeds Oscar Holloway, who has left the company to “pursue other opportunities”.
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It also reported that severity increased by 17% in the same period.
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