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Some 185 credit claims were reported in the market, totalling over $400mn. -
Frank Masteling will lead the new business as head of trade credit.
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The agreement is the second service contract the group has taken on.
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The carrier’s top line grew to $890m in the first half of 2025.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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Sources said MarshBerry is advising the underwriter.
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Incumbent Oskar Buchauer is stepping down after 27 years.
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The exit is by mutual agreement, according to the association.
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The MGA no longer has an FCA licence and was wound up in May.
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The impact on the (re)insurance market has been muted due to its strong capital position.
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The carrier reported preliminary profits of EUR2.1bn, driven by “very low” major-loss expenditure in P&C re.
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A look into how the insurance industry is using AI and where practical gains are arising.
