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CFO John Dacey said the carrier remains underweight in Florida due to concerns around underlying economics. -
The scandal over letters of credit at Vesttoo has put a spotlight on the casualty ILS segment, where Ledger Investing is growing market share.
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The firm’s PML on its Southeast wind business has increased after Northshore Re coverage was not renewed at 1 July.
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The floods struck New Zealand’s North Island between 27 January and 2 February 2023.
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The carrier had renewed its catastrophe XoL private market reinsurance for its property business, effective June 1.
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The firm earned higher fees off the back of growth in insurance premiums ceded to reinsurers, as premiums ceded to third-party capital partners declined.
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This came after the firm said it had begun the process of moving its US E&S business off its Lloyd’s paper as it sets up a new E&S carrier.
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The carrier said a greater number than usual of North Atlantic storms are possible despite El Niño conditions.
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The firm had earlier noted that the cat bond coverage would kick in if the PCS industry loss number reached $48bn.
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The carrier reported a 66% increase in GWP for its property business.
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Kattan’s role will include establishing the strategy and structure of SiriusPoint’s global ceded reinsurance function, managing the ceded team based in Stockholm and overseeing all reinsurance placements.
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The CEO said Chubb has ‘never seen better pricing’ on primary property.
