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Lloyd’s has taken around 6% of aggregate US hurricane losses in recent years, and disclosed estimated net losses from Helene and Milton of $1.8bn to $3.4bn. -
The transaction has received all required regulatory approvals and closed.
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The executive will also serve as an independent non-executive director of Gallagher in the UK.
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Guy Pierpoint will report to head of marine Phil Wheeler.
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The 2024 hurricane season stayed within predictions for high activity but lacked market-moving events.
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The insurer will have until Christmas to make a formal offer or withdraw.
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Andrew Draycott is to stay on "for the foreseeable future".
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The Class B notes on the carrier’s debut deal attach at $500mn of losses.
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A spree of new entrants in the cargo market has resulted in recent talent turmoil.
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Tillett succeeds Michela Moro who is returning to Italy, according to Allianz.
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The carrier’s lower hurricane exposure was driven by portfolio exits and optimisation.
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Cyber is more in the one- or two-year loss development camp, the Lloyd’s CUO said.
