Munich Re
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Everest Insurance head of specialty casualty will transition to the reinsurance division, reporting to Beggs. -
The sale represents a 4% stake in the UK motor insurer, according to Jefferies.
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The preliminary result was achieved despite EUR600mn losses from Bernd damages, as well as EUR1.2bn losses from Hurricane Ida.
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The carrier also cited increasing continental cyber losses as a factor in continued market hardening.
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The reinsurer said European property reinsurance rates may "catch up" with global rates in the wake of the disaster.
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The carrier benefited from a shrinking of large losses and strong investment returns.
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The carrier lifts premium by 17.1% at the April renewals.
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Primary unit Ergo was among the positive drivers that eclipsed above-average, Texas-storm-driven major losses within P&C re.
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The carrier is “very optimistic” on Japanese and US renewals this year, and outlined plans for growth in various lines and regions.
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Hannover Re and Fidelis provided significant capacity on the Munich Re-led programme.
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The carrier revealed 10.9% premium volume growth at 1.1.
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Last year cat losses were highly dispersed across a large number of events with no single loss above $10bn.
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