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With US third-quarter reporting season being well underway, the results so far highlight further runway for the hard property E&S market.
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The revised status follows the recent announcement that R&Q Insurance Holdings has agreed a sale of its Accredited program.
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E+S Rück said that natural disasters and persistently high inflation have again "taken a toll" on the German insurance industry.
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Loss severity and prior-year development in US casualty dominated discussion at The Broadmoor.
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The Corporation used its latest market message to call out what it saw as an “underwhelming” approach from specialty insurers to changing conditions and “moronic” D&O underwriting.
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The paradox of “the best reinsurance market in years” is that there are still question marks over who wants a piece of it.
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The executive also recommitted Aon to its mission around creating net new markets – including growing IP – in the wake of the Vesttoo issues.
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Despite a successful upstreaming of cat risk to primary insurers, reinsurers still have multiple factors to worry about in the run-up to 1 January 2024.
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Key trends the credit agencies will be monitoring include inflation, redistribution of losses and the investment bounce-back.
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The ratings agency also affirmed Swiss Re’s ‘AA-’ rating, with the carrier expected to maintain an ‘AA-’ rating through 2024.
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Ongoing rate rises in property are expected to be offset by decreases in specialty lines and casualty.
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The hammering of hailstorm losses that US homeowners’ carriers reported for H1 will drive positive change in property markets.