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Tech innovators would be forgiven for looking at our industry and wondering how so little about the way it operates has changed in the past two decades.
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Managing agent Coverys attributes the decision to the syndicate’s performance.
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The executive has worked at Axa XL and legacy XL Catlin since 2011.
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The move comes as Markel Re closes down its independent cat reinsurance underwriting.
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The last-resort carrier met its retention after Hurricane Laura, but expects over $128mn in total insured losses from the 2020 storm season.
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Guido Benz will join the business next spring and report to Lee Meyrick
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The executive will join as a senior property broker in the UK & Ireland and specialty casualty team.
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The 1 January renewal will be a battle for the biggest slice of post-Covid upside.
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The company’s reinsurance result took a hit from $113mn of Covid-19 claims and $308mn in losses from hurricanes Laura and Sally.
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The carrier says its programme performed "as expected" but it anticipates needing less cover in the future as it seeks top line growth.
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Also more on the Ariel deal, RSA faces break-up and highlights from our London Market Live conference.
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London Market Live panellists insist (re)insurance clients value stability and longevity over cheap capacity.