Tokio Marine
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The storm is not expected to be a threat to the order of Jebi or Hagibis. -
The former reinsurance leader’s exit from treaty highlights wider pressures on the market.
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Underwriters in both London and Singapore are in discussions with the company.
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TMHCC increased profit by 48% but the European segment recorded a loss due to a provision for losses from the Ukraine conflict.
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The incoming non-executive director was previously managing director of QBE Europe’s French branch.
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The renewables insurer has also promoted Josh Shimali to the position of head of onshore underwriting.
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The manufacturer suffered heavy damage to its Prospecton factory in April.
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Mitsui, Tokio and Sompo are to split the loss, which will be absorbed by retentions and property XoL treaties.
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The construction book will be absorbed into Intact Specialty, with the carrier providing the paper for the newly purchased book.
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The appointment comes after head of marine property and war Richard Tomlin exited the carrier in March.
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Plus the lowdown on the potential Howden-TigerRisk tie-up and all the top news of the week.
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The segment recovered after Covid-19 impacts and remedial work at Tokio Marine Kiln.
