Results
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Primary casualty, aviation and motor classes were outliers in a bumper year for the market.
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The Lloyd’s CFO said returns needed to remain high due to investor fatigue.
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Pro-forma income hit $1.9bn for the year, alongside pro-forma Ebitda of $695mn.
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The carrier reported an undiscounted combined ratio of 76.2% for the year.
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The unit’s combined ratio worsened by 1.6 points.
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The Goldman-backed consolidator branched out into MGAs this year.
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The MGU is exploring additional third-party capital relationships.
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Hard-won profitability has given carriers room to salt away reserves.
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Marine and energy results normalised after a ‘staggeringly good’ 2022.
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The reinsurer’s solvency ratio currently stands at 269%.
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The carrier has also recruited Swiss Re’s Thorsten Steinmann.
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