Results
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The CFO said defending profitability is the Corporation’s “utmost goal”. -
GWP was up 6.5% to £30.6bn, a notable slowdown from the 21.9% growth posted in the same period a year ago.
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The GWP total marked an 18% year-over-year increase from $145bn in 2022.
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Plus the latest people moves and all the top news of the week.
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The carrier’s profit fell 22.2% year on year during the six-month period.
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The syndicate posted GWP of $317mn for the first half of the year.
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Scor disclosed L&H troubles while Swiss Re continued reserving for US casualty.
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Return on capital employed hit 13% last year as the cost of capital fell to 8%.
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Positive cat experience impact of $600mn was offset by $500mn in property and specialty reserves.
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The P&C Re CoR came in at 84.5%, a 10.2-point YoY improvement.
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In its first full year of AUB ownership, the broker reported a 24% Ebit margin.
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The Australian carrier grew premium income by 11% to A$16.4bn.
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