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The Insurance Insider US news team runs you through the earnings results for the day. -
The loss was driven by nat cats and reserve adjustments in US casualty.
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The company reduced its proportional quota share program from 55% to 20% cession.
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The company also purchased $15mn of SCS parametric coverage.
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The professional lines market remains ‘challenging’ overall, however.
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The specialty reinsurer also saw several bad investments hit the books.
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The carrier’s US redomicile is expected for later this year and brings a one-time $10mn-$13mn benefit.
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The Insurance Insider US news team runs you through the earnings results for the day.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
The company has also expanded its relationships with US and UK MGAs.
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The S&P 500 outperforms as P&C tumbles on mixed earnings.
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The carrier also benefitted from favourable reserve development in property and A&H.
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