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Based in New York, the executive will report to global head of casualty Josh Everdell. -
It is backed by paper from MS Transverse, this publication understands.
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Other liability adverse development is being offset by workers' compensation releases.
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Some carriers may be pressing too hard on reserve releases from recent years.
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The firm took a major reserve charge and has gone into remediation mode.
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A minority view gaining currency is that 2016-19 will not be the only problem.
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Given a number of complexities, the landing zone on a take-out price is small.
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Is this a temporary spike or the start of a multi-quarter trend?
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The Bermudian’s reserves will be on watch when its Japanese parent reports earnings.
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The carrier said it has acted prudently on 2016-19 GL loss trends.
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The drivers are not surprising, but the extent of development is, execs said.
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The average 2023 premium renewal rate change for commercial property was significantly higher than 2022 across all months.
