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The annual claims totalled £5.7bn, the largest amount paid out in any year. -
Claims in recent months have brought a period of benign loss activity to an end in the class.
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The storm is likely to be one of the costliest weather events in Canadian history.
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But cat bonds are experiencing negative secondary market price movement.
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The company did not take questions on its recently announced business review.
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In Partnership With Allianz CommericalThe renewable energy sector is a major growth opportunity for the insurance industry but the loss experience has been challenging.
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The carrier disclosed it will book $1.1bn in net losses from the California fires.
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The insurer acknowledged additional claims in 2025 would be “reasonably possible”.
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The CMC will categorise cyber events that have a potential financial impact of £100mn+.
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The carrier is likely to exceed its Q1 large-loss budget due to the California wildfires.
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The specialty insurer reported favorable developments in both its insurance and reinsurance segments.
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The carrier has been reducing its presence in the state since 2007.
