Specialty treaty
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He joins from Odyssey Re, where he was treaty underwriting VP.
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Former pricing actuary Chris Chandriotis will lead the team.
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Carriers have been dealing with elevated storm activity this year, whilst additional purchases to match inflating values had largely been parked in 2023.
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Sources previously told this publication there is up $15bn of exposure on-risk locally.
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The contingency market is monitoring the war between Israel and Hamas for potential loss activity, as well as keeping track on whether it has wider global implications for events, sources told this publication.
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Carriers achieved sweeping changes in pricing, terms and coverage in a hectic renewal at 1 January 2023, in a reset that sources hope isn’t reversed.
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Syndicate 1856 is looking to back diversified coverholders for the project.
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Emily Taylor joined Hiscox as a senior underwriter in 2020.
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The carrier's global reinsurance panel is led by Arch Re and encompasses 43 other reinsurers, including multiple Lloyd’s syndicates.
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The broker has hired Paul Cousins from Chesterfield Group and Matt Webb from Ed Broking to run the division.
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Exclusions and coverage changes absolutely make sense as a goal, but some wordings have thrown up additional risks.
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Cedants are grappling with rising rates while coverage narrows.
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Insurance Insider selects 10 exclusive news stories reported by our team on the frontline at Monte Carlo Rendez-Vous.
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The carrier’s withdrawal from certain specialty lines comes as remediation feeds through into improved results.
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The former reinsurance leader’s exit from treaty highlights wider pressures on the market.
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Sources described Australia as ‘the new Florida’ while US rates are also on the rise.
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The agency highlighted potential aviation losses from the war ranging from $6bn to $15bn.
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Lloyd’s 2021 results have revealed significant improvements in virtually all lines of business as well as rocketing premium growth in reinsurance and primary casualty business.
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The intermediary has also bought a majority share in Ace Re.
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Plus the latest executives on the move and all the top news of the week.
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Industry veteran Rick Girden runs the construction portfolio, which is projected to grow to $200mn this year.
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RSA’s London Market and European specialty lines teams are to set to join forces with Intact’s global specialty team, following Intact’s acquisition of RSA’s UK & International business (UK&I) in June.
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The rebrand follows a last-minute acquisition of the firm by Aquiline-owned Lloyd’s syndicate ERS, in December of last year.
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The deal combines the two major mobile telematics companies, which will now cover 21 of the 25 top US auto insurers.