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The chairman said the recent events were akin to Andrew, Katrina and the WTC. -
A higher loss quantum will put a greater burden on retro programmes.
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The reinsurance to close transaction is effective from 1 January 2025.
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The start-up has achieved an A- credit rating from AM Best.
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The annual claims totalled £5.7bn, the largest amount paid out in any year.
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The storm is likely to be one of the costliest weather events in Canadian history.
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The business will prioritise growth in the life segment.
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As the market turns, balance sheet M&A is becoming a more appealing option.
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The carrier is likely to exceed its Q1 large-loss budget due to the California wildfires.
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The carrier reported cat price reductions of 5.4% at the January renewals.
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EGPI growth at the carrier’s Alternative Solutions unit jumped 29.6%.
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The executive has worked in a variety of senior underwriting roles at the reinsurer.
