Swiss Re
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The ratings agency said comparing companies was complicated by the adoption of IFRS 17 accounting. -
Scor disclosed L&H troubles while Swiss Re continued reserving for US casualty.
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Positive cat experience impact of $600mn was offset by $500mn in property and specialty reserves.
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The P&C Re CoR came in at 84.5%, a 10.2-point YoY improvement.
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Plus the latest people moves and all the top news of the week.
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John Dacey will retire at the end of March 2025 after 12 years with the firm.
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A roundup of all the news you need today, including Lloyd’s chairman candidates.
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The insurance sector’s RoE is expected to exceed 10% next year.
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SCS caused global insured losses worth at least $8bn in the first quarter of 2024.
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The Italian hailstorm event in the summer 2023 saw estimated losses nearly triple.
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Combined ratios improved all around thanks to better pricing and a benign cat quarter.
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CFO John Dacey said the carrier had concluded it was not the “best owner” for iptiQ after a strategic review.
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