Reinsurers
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Investors are drawing lessons from life deals to find new routes into insurance markets. -
Nationwide will delegate management of the policies to Ryan Specialty.
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The firm attributed a 9% drop in reinsurance NWP partly to higher cession rates.
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The legacy player is working to secure its first deal, and could look to expand to US E&S.
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Insured losses produced the second highest first-half tally since records began in 1980.
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Reserve releases helped to recapture deferred fees.
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The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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In the US, the index fell 6.7% year on year.
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The programme’s total limit this year is down $594mn to $1.36bn.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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In April, the loss modeller pegged losses at A$2.57bn.
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William Soares moves from casualty and specialty CUO to president.
