Risk losses
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The class of business has shouldered claims totalling over $4bn this year. -
The MGA began offering US commercial E&S property products in December.
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Citi and Berenberg believe the carrier is more resilient than in the past.
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While attritional losses were up for the quarter, those in the carrier’s core business declined.
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The company reported no cat losses but saw a jump in attritional losses.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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Questions remain over regulatory touch, capital requirements and tax benefits
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The claim hits the downstream market following a loss-hit start to the year.
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The aerospace, energy and marine markets all sustained multiple significant losses in H1.
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He expects the operational hygiene of MGAs to be tightened soon.
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The MGA’s GWP hit $4.6bn as the CEO labelled aviation all-risks rates “woefully inadequate”.
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Aviation reserve strengthening added 10.1 points to the combined ratio.
