Swiss Re
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Cameroon’s Sonara refinery and Algeria’s Arzew production plant have both been hit by fires in the past month. -
The manager invested more than $100mn less in the April fundraise for Swiss Re’s sidecar than last year.
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The latest Sigma report said premium growth is shifting east to Asia, while the US remains the largest market.
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Axis and Swiss Re were able to top up on ILW cover at the lower end of their targeted costs.
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Parent Swiss Re could sell as much as 41 percent of the closed life business in the London offering.
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He replaces Jayne Plunkett, who is leaving the carrier.
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A stake purchase by MS&AD last year pointed to a valuation for the company of around $3.9bn.
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The closed life insurance unit will be floated on the LSE’s main market.
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Along with co-investor MS&AD, the reinsurer will increase the unit’s capital by more than $610mn ahead of listing.
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Katie McGrath will from next month replace Mike Kemp, who will be retiring this year.
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The carrier reports 5 percent price growth within its corporate solutions unit and a 1 percent aggregate rate increase at the April reinsurance treaty renewals.
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The P&C combined ratio worsened by 18.3 points to 110.3 percent, while the corporate solutions division swung into the red.
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