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The investment relations head will also join the group executive committee next month. -
The New York PE firm says the data-powered business offered a “unique opportunity in Lloyd’s to revolutionise the market”.
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Major reinsurance carriers like Munich Re, Hannover Re and MS Amlin are significant providers to some of the state's regional carriers, analysis suggests.
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The latest estimate is marginally below a previously disclosed $75mn UK BI claims cap.
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The Swiss carrier says any increase in P&C claims arising from the ruling won’t materially impact its earlier assessment of $750mn in Covid-19 claims.
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The carrier did not give a gross loss estimate, but has added $39.2mn of reinsurance cover for a second event.
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The executive, a key lieutenant of group COO Peter Zaffino, is the first of the Duperreault-era management team to leave.
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Underwriting margins need to improve by as much as 7-12 percentage points to compensate for lower interest rates, the carrier states.
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Total equity and debt raised this year if the $300mn target is reached would approach $1.5bn.
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The carrier said it had added new ILS structures, as it took $187mn in Covid losses.
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The top 10 carriers continue to write the lion’s share of global premiums.
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The former Hiscox CUO has $300mn of cornerstone backing from the PE firm to make a deal happen.
