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The firm returns to the black at underwriting level with a combined ratio of 95.8 percent.
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Group profits slip back due to cat loss reserve strengthening.
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Most claims emanate from Germany, France and the UK.
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Pre-adverse development cover, the carrier saw impact from directors’ and officers’ and mergers and acquisitions-related business.
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Natural catastrophe losses halve to $411mn, while the carrier releases reserves at the GI division. -
Chilean riot losses of about EUR20mn and almost EUR107mn in Japanese typhoon claims weigh on the final months of the year.
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The marine insurance union predicts coronavirus will be “small black swan event”.
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The Abu Dhabi Investment Authority becomes a new shareholder in the company via the fundraise.
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Firms open negotiations with talk of double-digit increases after Hagibis, Faxai and Jebi creep.
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The Lloyd’s chairman predicts the virus will be a “reasonably underinsured” event.
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Bushfires losses still dwarf claims from the other five major events to afflict Australia since October.
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The events a year ago generated the highest Australian flood claims in eight years.
