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The measure could have landed insurers with extra tax on US business. -
A group of Bermuda staff also left the broker.
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David Baldwin joins from EIRS where he was a senior reinsurance consultant.
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Last week, TSR updated its forecast and is now predicting above-average storm activity.
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TSR previously predicted activity slightly below the 1995-2024 average.
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The agency forecasts up to five major hurricanes and 19 named storms.
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Fox highlighted the increasing role of alternative capital and creative financial vehicles.
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The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
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The headcount at the start-up now stands at around 40.
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Sources believe the market will grow gradually over years after its initial cluster of dealmaking.
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Ark's combined ratio included 25 points of catastrophe losses in Q1.
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AIG, HDI Global and others have settled, while Chubb’s fight continues.
