Casualty/GL
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A reinsurance panel at Reconnect also called for reform of risk models
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The speciality residential and commercial house has a focus on earthquake, hurricane and flood risk.
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The carriers with the largest Louisiana market shares also ceded more than $100mn to Lloyd’s syndicates during 2020. -
Across London, the US and Bermuda, Ascot Re will provide P&C, PI and specialty lines cover via its new aligned division.
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Reinsurers are talking about a new era of elevated risks, but their behaviour may signal a more relaxed view heading into 2022.
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Jasmine DeSilva will work on strategic initiatives and business development for the ILS services provider.
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This came as the insurer said its reinsurance programme was oversubscribed and it expected rate increases to be in a mid single digit range.
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The firm reported a $100mn drop in ILS AuM to $1.4bn, although previously had said deployable capital was lower.
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The reinsurer adds $300mn to the unit’s pandemic reserving in Q4 and slashes premium volumes by 11% at the renewals.
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The Floridian has also incurred $23mn of net catastrophe losses in Q4 before tax.
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The $296mn of reported cat losses were down 31% year on year.
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The analyst predicts the insurance sector could experience its best performance in nearly a decade.
