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Fallout from the 2019 JLT Re integration intensifies after a group including Brad Maltese were earlier reported to be set to join Howden. -
The newcomer has also spent more than eight years at Guy Carpenter.
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The data company describes the first quarter as benign.
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The move is part of a wider strategic effort by the broking goliath to quantify the value of intangible assets.
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The Canadian pension plan more than doubled its ILS holdings after hiring a new portfolio manager.
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An increased frequency and severity of fires weigh on per-risk covers.
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The broker’s international chairman also noted an emphasis on restructuring aggregate programmes during this year’s 1 April.
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The syndicate’s net earned premium halves to £34mn.
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Property reinsurance losses were up by 70% year on year, but property insurance business reported a steeper loss.
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Covid-19 losses accounted for 60% of the major claims, with the rest attributable to catastrophe events.
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Around 15 producing brokers are on the move, with a number from the non-marine specialties team.
