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Fox highlighted the increasing role of alternative capital and creative financial vehicles. -
The executive will take the global role alongside his existing US responsibilities.
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The bond will provide named storm and quake coverage in the US.
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The executive has been with the firm since 2011.
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As with 2024, pricing pressure has been most acute on top layers.
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The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
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The reinsurer’s CFO cited a 1.5% net price reduction year to date.
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Rates have fallen an average of 10%, though changes can be highly specific to each property.
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The exec will lead key initiatives including Aon United, and work closely with NFP.
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The CEO said Ascot would deploy capital where it sees opportunities.
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New CEO Eckert said Conduit had taken “decisive action” after the LA wildfires.
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