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Property remains the dominant line, accounting for nearly 30% of total London premiums. -
Rachel Turk said product-line facilities had been “under-scrutinised”.
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Lloyd’s reported reinsurance GWP increased 10.6% to £13.2mn.
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Gross written premium was up 6% year on year.
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The ratings agency was presenting its outlook ahead of the Monte Carlo Rendez-Vous.
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The division reported revenue up 13.3% at A$465.9mn.
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The Bermudian reiterated its pledge to improve performance.
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The combined ratio worsened slightly by 0.5 points to 91.6%.
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The mid-year renewals point to mounting pressure on reinsurance pricing.
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Top line grew across all carriers even as pre-tax profits dipped.
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Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn.
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Nat-cat events triggered A$1.36bn of losses during the year.
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