Property
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ARPC said the move improves the pool’s capital strength.
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The ratings agency says it will continue to monitor whether the cat event could affect the rating outlook for any entity. -
The company also lowered the attachment points on its per-occurrence and aggregate property catastrophe treaties after shrinking its portfolio.
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The risk modeller pledges to review the offer but says its $6bn agreement with the PE firm still stands.
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The loss estimate for the February 2020 event is up 3% on an August assessment.
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Deanne Nixon is currently CUO at the Floridian insurer.
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He has taken on a role as senior property underwriter after a stint as portfolio manager at Axa’s ILS unit.
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The appointments follow the promotion of Jeremiah Konz to chief reinsurance officer.
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The CEO says the carrier deployed most of the $340mn raised in June at the 1 January renewals.
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The combined ratio deteriorates by 26.9 points to 107.8%, though comes in ahead of forecasts.
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The carrier predicts Covid’s reinsurance impact will drive market hardening.
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The French reinsurer reported average treaty price increases of 7.8% in January and predicted rate growth through to 2022.
