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Aviation reinsurance reserving issues will also be a broader focus for the market. -
The claim could add pressure to the hull war market after a recent High Court ruling.
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The CEO said business remains adequately priced in most classes.
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The carrier is reducing its exposure to quota shares and shifting to XoL.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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Insured losses produced the second highest first-half tally since records began in 1980.
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Bridges joins from QBE, where he spent over 17 years.
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Some 185 credit claims were reported in the market, totalling over $400mn.
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Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.
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The impact on the (re)insurance market has been muted due to its strong capital position.
