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The move by a senior claims executive to the underwriting side comes amid mounting casualty claims due to social inflation.
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SVP Tom Jurgens told The Insurance Insider that he expects the book to grow at least 15 percent this year. -
Disruption in P&C markets is expected to boost demand for captive services.
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Sources said Island Express Helicopters holds a $50mn hull and liability insurance policy.
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On Thursday morning, Travelers reported EPS of $3.32 versus $2.13 YoY and a headline beat versus analyst consensus of $3.29, in part driven by low catastrophe losses (thanks to an aggregate reinsurance recovery).
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The former Navigators executive has set up a consultancy called G58 to work with private equity and insurance clients.
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Sources said carriers will likely need OFAC approval to make liability payments to Iranian families.
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The case exemplifies the complications historic opioid claims are causing in the market.
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The experienced legal and claims executive will underwrite and service a variety of accounts.
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Losses in the wider casualty market are affecting relatively loss-free pockets of the energy sector.
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Rate growth fails to meet early expectations but the market is clearly tightening in aggregate.
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Hilary Brown most recently served as head of casualty, international for AIG.
