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CEO Adrian Cox said Beazley’s recent $290mn ILW purchase was not driven by “capital flexibility in and of itself”. -
Some US and European cedants will likely see "specific adjustments" to their programmes.
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The carrier said activity across smaller and mid-sized natural catastrophe and risk events had been “elevated”.
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The carrier said an active hurricane season and a global cyber event had not altered its full-year guidance.
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The carrier increased insurance revenue by 16.8% to $1.3bn year on year.
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Losses were attributed to the Taiwan earthquake and flooding in Middle East and Europe.
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The results were disclosed in parent company Fairfax’s quarterly earnings.
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The conglomerate expects pre-tax losses from Hurricane Milton of between $1.3bn-$1.5bn in Q4.
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The firm is still operating within its catastrophe budget for the year, CEO Scott Egan said.
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The company has grown its premium base by 12% annually over the last five years.
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The carrier booked $30.6mn of favourable development in the quarter.
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Arch is assuming an industry loss related to Helene in the $12bn-$14bn range.
