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The carrier reported overall rate increases of 18% in the London market in the first nine months of the year, with reinsurance up 12%. -
Pandemic losses inflate the quarterly combined ratio by 10.1 points.
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The USGS has forecast a 28% chance of economic losses exceeding $100mn.
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Rate acceleration, frequency benefits and less-than-feared top line pressure were among the takeaways from US disclosures.
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The storm is forecast to bring heavy rainfall and possible flash flooding when it arrives in the US early on Wednesday morning local time.
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Repeated pelting from smaller cat losses presents a host of challenges for carriers.
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The service provides a higher level take on ex-US loss data than the Perils index
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Some reinsurers pulled quotes as the shock waves of ~$650mn of creep reverberated.
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Around 95% of the loss was property damage, mainly residential.
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The reinsurance CEO says Swiss Re will cut back its US casualty share.
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Including offshore losses of up to $1.5bn, the firm's total loss estimate ranges from $0.8bn-$1.5bn.
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Axis, RenRe, Arch and Everest Re trade roughly in line with the S&P 500.
