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The forecast is A$200mn above the latest industry loss figure from Perils.
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Monday’s edition of the Los Angeles Times contained an op-ed co-written by Ricardo Lara and Tim Edwards highlighting the need for California to push ahead with plans to purchase a disaster insurance programme.
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CUO Schmid reveals the carrier made more use of retro support to manage its cat expansion. -
The carrier said Japanese cedants reacted “in a reasonable way” after historic Jebi losses.
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Despite high tornado activity, total damages from such storms remained below average at $7.5bn.
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Chief executive confirms “sizeable rate increases in each layer”.
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Last week, Markel said it was placing its retro fund manager Markel Catco into run-off, as part of a restructure that will see a fresh retro play brought to market for 1 January 2020.
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The carrier says it remained largely immune from market-wide loss creep from 2017 and 2018 events.
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The insured loss will be under $40mn, according to the modelling firm.
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The six-month period to 30 June brought 163 natural disasters.
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Insurers are increasing reserves due to a new laws expanding child victim compensation.
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California earthquake carrier is giving policy holders $3,000 to strengthen their homes.
