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The broker said some reinsurers were planning for significant growth in property catastrophe as demand is expected to pick up pace. -
Loss creep from Hurricane Ida has led to the loss and an increase in loss reserves.
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A report warns that recent rate increases may not be enough to protect against headwinds.
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A Moody’s survey of reinsurance cedants found most are expecting cat rate increases to remain in a high-single-to-low-double-digit bandwidth.
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Ratings agencies suggest that carriers must do better on controlling volatility – but diverging risk appetites give the lie to the idea that the industry is walking away from risk.
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Insured losses in 2021 alone hit $20bn.
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The Lloyds-centric reinsurer has become a signatory member of the Standards Board for Alternative Investments.
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Nat cat losses added 11.8 points to the combined ratio at 101.5% over five years on average, S&P has found.
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The reinsurer’s CFO and COO Michael Dennis has been named CEO, subject to immigration approval.
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The Sompo International company was placed into run-off in June 2019.
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Vesttoo's aim for the partnership is to bridge the gap between the insurance and capital markets, scaling insurance-linked investments as a source for reinsurance capacity.
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Contasta joins the Connecticut-based reinsurer after over 14 years at Alleghany-owned carrier TransRe.
