WR Berkley
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The recruit will become president of the UK reinsurance operation, before moving to CEO by the end of the year. -
The carrier is splitting the CEO and CUO roles at its Lloyd’s managing agency, with Blades continuing as CUO.
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Berkley has said it will offer 100% reinsurance protection for clients, or will happily share risk with cedants.
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Rate acceleration, frequency benefits and less-than-feared top line pressure were among the takeaways from US disclosures.
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Marijuana dispensaries in cities including Chicago, Philadelphia, Boston and Los Angeles were among the targets.
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Chubb and CNA fell by 7 percent, while AIG closed the day down 10 percent.
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Allianz, Chubb and WRB are among the carriers that oppose the centralisation of BI claims.
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A bill circulating in Congress would make the industry retain the first $250mn of pandemic risk, a proposal that has split industry opinion.
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Hiscox’s Olly Durell, MS Amlin’s Daniel Black and Sarah Reeve all join the company.
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Social inflation related to the pandemic will put added strain on insurers, the executive said during an earnings call.
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The insurer reported a 2.6 percentage point worsening of its combined ratio in Q1 on Covid-19 claims.
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The proportion of loss-makers falls 4 points from 2018 but is three times as high as 2014.
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