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BP Marsh has taken a 25.5% stake in the energy-transition business.
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With the storm’s losses looking more favourable, questions over rates and gross/net strategies will arise. -
An estimated $6bn to $9bn will be ceded to the FHCF, and $6bn to $10bn to traditional reinsurance markets.
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Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power.
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On Wednesday, the model had suggested a mean figure at $25.3bn.
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The appointment follows the departure of upstream head Chris Touhey.
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The hurricane is likely to prevent rate reductions in property cat in 2025.
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The event has spared (re)insurers the more extreme scenarios that were under discussion earlier this week.
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She most recently led the broker’s UK insurance vertical.
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Milton made landfall south of Tampa Bay at Category 3 on Wednesday night.
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Dax Gulmohamed succeeds Fintan Mullarkey, who is departing following a 21-year career with Axis.
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The cost to the NFIP is likely to be a “mid to high single-digit-billion impact”.
