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The book of occupational disease liability is highly volatile and payouts can be significant.
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Underwriting income for the industry climbed $4.9bn from the previous year, driven by growth in net premiums earned, according to AM Best.
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His arrival comes as rates surge across the excess casualty market, driven by social inflation in the US.
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The Japanese-owned carrier installs the fifth and final divisional head following a business overhaul.
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The liability cover is the second product to stem from the Lloyd’s innovation facility.
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Global P&C CEO Conoscente offers reassurance on US casualty exposure.
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The move follows S&P and Fitch putting ProAssurance’s ratings under review.
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The executive said syndicates would struggle to grow market share as casualty rates rise.
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The ratings agency said its outlook on the carrier remains unchanged following the announcement of its acquisition of Norcal.
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Fitch placed ProAssurance ratings on negative watch following the announcement of the acquisition, noting concerns about the medical professional liability space.
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Colm Lyons, Lee Ackerman, James Perrott and Tom Graham join Syndicate 1969.
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Analysts remain unconvinced that the US casualty reserving crisis is behind the carrier.