RenaissanceRe
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The Japanese carrier says loss derives mainly from an appreciation in the value of the yen since TMR’s launch in 2000.
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About 46 percent of shareholders disapproved of O’Donnell’s compensation in a non-binding advisory vote.
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First-quarter combined ratios deteriorated at most Bermuda-based (re)insurers.
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The reinsurer, now owned by RenaissanceRe, had reported a loss of $158.8mn in 2017.
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Reinsurers recognize the need for more rate for the risk being ceded, O’Donnell said on the firm’s Q1 call.
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The Bermudian (re)insurer posted a combined ratio of 72 percent in Q1 2019, a 1.4 percentage point increase year on year.
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Cunningham is the latest TMR underwriter to resurface in the industry.
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Nine broking houses made it to the ranking this year versus 54 underwriting firms.
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The second edition of the survey generated a ranking of 227 reinsurance professionals
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David Martin will report to deputy global reinsurance head Matthew Wilken.
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After Hurricane Katrina, a slew of big composite insurers including Axa and Chubb spun off their reinsurance arms, citing their excessive volatility.
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The firm’s moves to add new pools of risk will not extend to a major shift into primary lines.
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