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CFC noted that growth moderated amid increased competition in cyber. -
The syndicate reported profit up 44.7% to $153mn for the year.
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Lloyd’s gains leadership, and The Fidelis Partnership gets capital diversification.
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The executive said Aviva and Fidelis had endorsed the market’s turnaround.
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Atrium reserved £264.5mn for potential claims resulting from leased aircraft in Russia.
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Active underwriter Smelt said competitors’ ‘blanket’ approaches are creating opportunity.
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Combined ratios have improved as prices rise and investments return to profit.
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The syndicate’s GWP reached £1.44bn in 2023, a 7% increase on 2022.
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Primary casualty, aviation and motor classes were outliers in a bumper year for the market.
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Hear the latest from the marine market as it weighs up the implications of the bridge collapse in Baltimore. Early indications are the claim could eclipse losses from Costa Concordia, stretching into the billions.
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The new target go-live date is October, but a milestone plan will be confirmed in April.
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