Reinsurance
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The carrier said it expected its Milton losses to fall below its EUR500mn ($537mn) Helene loss. -
Only around EUR70mn-EUR140mn will fall to private insurers.
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The carrier’s Q3 net income will be around $100mn, far below consensus.
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The carrier’s retail division saw the largest growth at 4.7%.
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The carrier has pegged preliminary pre-tax Milton losses at less than $200mn.
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The carrier increased specialty premium by 39% by the nine-month mark.
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The carrier said activity across smaller and mid-sized natural catastrophe and risk events had been “elevated”.
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Nicola Gaisford joined RiverStone from R&Q last year.
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The firm will provide an update on 22 November to avoid holiday season.
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The broker said the casualty segment is approaching an “inflexion point”.
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Andrade flagged expected 5% to 10% increases in the US and Europe.
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