Treaty Reinsurance
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The reinsurance broker said mid-year excess capacity was at its lowest point since 2012.
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The carrier says it expects inter-company efficiencies and savings from the redomestication.
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Storm surge losses are expected to remain under $500mn. -
The collaboration is the latest signal of big tech’s growing interest in the insurance sector.
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Retro specialist Richard Wheeler will head the unit, which will focus on sourcing third-party capacity.
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The research firm says the pandemic will become the leading example of “silent” coverage uncertainty.
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Sue Ringold and Bill Orendorf will join Roman Romeo’s team in Bermuda.
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The executive joins after 15 years at the Fairfax-owned carrier.
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The appointments come as the carrier continues to reshape its portfolio as part of ongoing remediation efforts.
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The group’s combined ratio improved by 9.5 points to 95.9%.
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The Texas state-backed carrier secured $2.1bn in cover for the 2020-21 hurricane season for $107.5mn above the $93.1mn budget.
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The ratings agency says it is concerned about the impact of Covid-19 on the insurer and its future operating performance.
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