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Reinsurers are willing to concede on pricing, while cyber interest is on the rise. -
The sidecar was launched today by the Bermudian reinsurer and investment firm Carlyle.
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The capital will provide retro cover for life-focused reinsurer Fortitude Re.
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Majority shareholder Fosun will continue to hold the remaining 86.7% of shares.
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EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.
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The change forms part of a broader leadership reorganisation.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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Insurance grad vacancies were down 18% year-on-year in the UK, ahead of a 3% nationwide drop.
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Though wildfire losses are up, total losses are the lowest since 2015.
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The carrier has been exploring launching into P&C organically or via acquisition.
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Class actions and third-party litigation funding will drive up losses.
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The governor has yet to sign a pending bill to create a public cat model.
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The reinsurer plans to grow its US business at a higher rate than its non-US business.
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The carrier has hired José David Jiménez García as managing director for Germany.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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In July, he took the role on interim basis from Laure Forgeron.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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The carrier will pay special dividends only in exceptional circumstances.
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Plus, the latest people moves and all the top news of the week.
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The facility will initially focus on US, Bermudian and European business.
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Stephen Ridgers is leaving his current role as head of construction midcorp at Allianz Commercial.
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Continental composite carriers aim to smooth volatility with new initiatives.
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The deal will be watched closely by Radian’s handful of similar peers.
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Part four looks at how the talent landscape will shift in response to AI introduction.
