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In casualty, the executive is seeing an acceleration of flight to quality both from cedants and reinsurers. -
The US insurer squeezed its retention in a renewal where cat treaty retentions are widely holding steady.
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This was the second issuance completed by Farmers via its Bermuda reinsurance vehicle Topanga Re.
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The company named two execs to head global wholesale and commercial.
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Inflation was down from the 3% recorded for the 12 months ending in September.
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The commissioner said more work needs to be done, but big companies are interested in coming back.
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The Floridian also anticipates $115mn to $125mn in net income for the quarter.
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Los Angeles wildfires and SCS pushed US losses to $89bn.
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The executive’s 30-year career includes stints at Neon, Chubb and Arch.
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The proposal says oil companies cause climate change and, thus, increased cat losses.
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Several lines had price decreases, while growth in most sectors slowed from previous quarters.
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The legal setback came as publication of a Fema reform report was postponed.
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