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The carrier’s maximum event retention for the Auckland event is A$236mn. -
Cat activity and financial market volatility had impacted investor’s allocations to ILS and redemptions, Markel said.
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The carrier said GWP was up 12.7% to EUR33.3bn.
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All four of the firm’s key third-party vehicles were profitable in the quarter.
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Excluding agriculture, Chubb’s P&C CoR rose to 85.9% in Q4 from 85.4% the prior-year quarter.
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An imbalance of capital supply and demand led to strong increases to spreads at issuance for index-linked and indemnity bonds.
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More rain is forecast for Auckland, with three 'heavy rain warning – red' notices issued today.
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Following recent hurricanes, more than 610,000 residential property claims were filed in the state.
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The intermediary tallied $360bn in economic losses worldwide.
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Mayor Wayne Brown said infrastructure and emergency services had been overwhelmed by the storm’s impact.
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Speaking on the company's Q4 conference call, the executive said the market should not assume that WRB will become a heavy cat-exposed writer.
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The firm’s flood solution will be available to layer on top of existing parametric hurricane wind policies.
