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The majority of losses occurred in the western Turkish city of Izmir and the rest of Izmir province.
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Weather activity and adverse claims trends in Florida have impacted underwriting results, the ratings agency said.
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Occurrence retro rates are among the segments where rate pressure is abating, although the outlook remains somewhat opaque in a late renewal.
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This event brings total Australian hailstorm losses to over A$3.64bn in 2020, Perils said. -
The updated spread implies a slightly lower multiple on the retro quake notes.
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The state-backed carrier escaped lightly from hurricane losses but 500 Eta claims await payment.
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The North America property underwriter joins from Markel alongside a slew of former Hiscox colleagues.
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Carriers have raised $19bn so far this year, with another $3bn in the pipeline, the broker says.
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Former president Widdicombe has taken the role of chairman, as planned, but won’t serve on any board committee.
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The Q4 figures represent an increase of 24% since July 2020.
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The executive will lead the retrocession and property specialty segments.
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The new hire has nearly a decade of experience in Asia.
