Reinsurance
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Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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The Corporation’s CUO said managing agents must ensure they manage the future differently to the past.
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Reinsurers will likely push for double-digit US premium rate increases.
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Francine has been the eighth Category 2 or larger storm to make landfall in Louisiana since 2000.
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A roundup of the breaking news, C-suite interviews and exclusive insights.
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‘Life-threatening’ storm surge and hurricane-force winds expected for the state, according to the NHC.
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Legal trends, the primary pricing micro-cycle and other factors all play into an opaque outlook.
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Pricing expectations are still not aligned on higher-risk coverage options.
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The estimate from the Perils-owned company does not include any losses from Hurricane Debby.
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Despite potential claims stretching into the billions, the events are not expected to shift the dial on pricing.
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Reinsurers are tightening their grip on certain specialty lines to make sure they remain profitable, say senior executives participating in our virtual roundtable.
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Flooding from the remnants of Hurricane Debby has taken carriers by surprise.
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A hurricane watch is now in effect for the Louisiana coastline.
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The carrier said European cat business needs further price improvement.
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Some Canadian cedants have approached the market for top-up cover.
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Negotiations are getting tougher, but overall market capacity is stable.
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The UK subsidiary of Carrick will acquire BMS International Insurance DAC and Seamair Insurance DAC.
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Future deal flow in the US could come from more adequately reserved liability lines.
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CEO Thierry Léger claims the “insurability” of global risk is becoming “challenged”.
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Reinsurers are high on their ‘redemption arc’. The question is – how long will it last?
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Renewals will depend on clients’ ability to differentiate themselves from broad-brush trends.
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“They want to grow their portfolios,” Guy Carpenter's CEO added.
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The take-private is expected to close by mid-2025.
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Hundle & Partners will provide capital support for the business, which will focus on acquiring corporate liabilities.
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Sources said the venture will look to service both US and European corporates and is backed by family office money.
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The US carrier abandoned the project due to high price expectations.
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The deal covered US and European P&C liabilities for Accelerant's 2020-2021 underwriting years.
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The James River-Long Tail Re deal is the latest example of deal-specific investor capital.
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In its first six weeks, Taurus has brokered more than £100mn of UK real estate.
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The new broking president added that hundreds of Marsh staff would not show up tomorrow at WTW.
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The legacy firm said the deal would strengthen its Bermuda operations.
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The transactions will de-risk all North America middle-market reserves up to 30 June 2024.
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Severe thunderstorms, mainly in the US, accounted for 70% of insured losses globally.
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Everest Re bucked a more general trend to keep cat exposure stable.
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This is Carrick’s second transaction this year and Insurance Insider understands it expects to complete others before year end.
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