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Underwriters expect to book increases of 2.5 percent as capacity still abounds in the sector.
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The industry association opts not to seek a judicial review over the UK government’s slender 0.5 point increase to the discount rate.
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The ratings agency predicts third-party capital providers will “hold the line” on return expectations after heavy losses.
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Buyers look to alternative risk transfer options as stressed market conditions continue.
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The move follows similar action by other clubs as the sector looks to generate underwriting profits.
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Loss deterioration, interest rates and capacity reduction lend weight to reinsurers’ case for rate rises.
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Cat bonds sponsored by the California Earthquake Authority and the Philippines government both achieved their target size while pricing in the upper range of coupon guidance.
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Umbrella and commercial auto price growth nears double digits.
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The mutual said the rise was necessary to ensure financial stability amid rising claims.
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Low interest rates and macroeconomic uncertainty threaten profitability and solvency ratios.
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The broker expects public company D&O and cat-exposed property risks to receive high double-digit rate increases.
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Casualty rates and T&Cs should improve for 24-36 months, the executive said.
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