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Mercury’s recovery from the guaranteed percentage of losses is $47mn. -
This brings the carrier’s total limit on the program to $1.8bn.
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The Bermuda SPI will write a quota share of SageSure’s captive Anchor Re.
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Matthew Flynn joins from RenaissanceRe.
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Insured losses produced the second highest first-half tally since records began in 1980.
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Brian Hickey joins the firm from PE specialist AE Industrial Partners.
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Insurers must write policies in high-risk areas in order to incorporate the model.
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Reserve releases helped to recapture deferred fees.
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The consultation period around UK ISPVs was opened in November last year.
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The proposed reforms are designed to put the UK’s regulatory framework on par with Bermuda and the US.
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CFO Christoph Jurecka will succeed as management board chair.
