Swiss Re
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The carrier has already withdrawn cover for the top 5% of carbon-intensive oil and gas firms in the past year. -
In his new role, Jeffrey Pan will also be a member of the Corporate Solutions APAC executive team.
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The trio join WTW, Aon, Marsh McLennan, Hannover Re and Generali in shunning Russia over the Ukraine invasion.
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Earnings reports from Swiss Re, Munich Re and Scor have revealed increased cat budgets and highlighted continued shifts away from frequency coverage.
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The carrier’s CFO said there will be continued opportunities to grow top line in P&C, CorSo and L&H over 2022.
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CEO Mumenthaler emphasised cat as a “core competence” for the carrier.
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CorSo also returned to profit as its CoR improved 24.9 points to 90.6%.
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The Hartford’s customers will have access to Swiss Re’s globally standardised property wordings and online platform.
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Cedric Wong has also been promoted to lead the UK engineering and construction wholesale team.
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The reinsurer said it planned to name a permanent replacement on receiving all regulatory approvals in the coming months.
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Group operations will be reorganised, with all technology responsibilities falling under Ladva’s remit.
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Hurricane Ida was the main loss-making event, but once again secondary perils generated more than half of global losses, according to the latest Sigma report.
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