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2022 was a near-average season in terms of the number of storms, but featured an unusually quiet start in August, followed by two Florida hurricanes, including one of the US’s most expensive. -
The correlation between a good ESG score and low loss ratio is strongest in property insurance, the report shows.
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The ratings agency took increased nat cat activity, pricing trends, growing demand and business plan stabilisation into account when assessing the segment.
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The reinsurer said the appointment comes as it looks to grow in the property treaty arena.
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The bond has also expanded its range to target up to $125mn.
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The unit will aim to grow captive solutions and structured solutions.
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She succeeds William Mills, who left his role as group head of ceded re and third-party capital for Allianz.
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The executive will step into her new position on November 28 and will report to Andrew Shaw, the company’s lead property underwriter.
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The reinsurer is ready to “walk away from business” where it feels pricing and terms and conditions are not good enough.
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The insurer’s expected full-year combined ratio is 94% and constant currency GWP growth 10%.
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The two insurers are believed to provide in excess of 20% of the cat MGA’s capacity.
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Most claims so far have been for damage to residential property.
