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The carrier has made refinements to the vehicle’s portfolio mix and the structure mix, Liberty Mutual told Trading Risk. -
Reinsurers that have been reliant on retro cover also pared back their market share, as the broker said mid-year renewals showed tangible pricing momentum.
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He became CUO in 2012, having also served in a range of roles including CEO of Hiscox USA, underwriter of Syndicate 33, and MD of Hiscox Global Markets.
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The bond has placed at the lower end of pricing guidance.
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The insurer paid a rate on line of 11.25 percent for its new personal lines cover.
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The California Earthquake Authority’s total risk transfer limit has almost doubled since 2015.
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Rising Jebi losses will contribute to a squeeze on capacity.
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The ratings agency has warned that, if reinsurers and ILS fund managers fail to price differentiate among carriers, they will contribute to the commoditisation of catastrophic risk.
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The carrier completed 17 legacy acquisitions and reinsurance deals in 2018.
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The insurer was hit by $5mn of cat losses in Q1 2019, adding 2.4 points to the combined ratio.
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The Bermudian (re)insurer also almost doubled the amount ceded to its Harrington Re vehicle to $108.68mn at 31 March.
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The legislation would restrict attorney fees in AOB cases.
