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Arch’s estimate is commensurate with a range of expected insured losses across the global P&C industry of $50bn to $60bn. -
Major questions confront the industry after Hurricane Ian, but no matter the answers, certain outcomes are inevitable.
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Neches will also join the board of directors of the Bermuda-based company, effective immediately.
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The incoming CUO joins from InsurTech MGA Kettle, where he was also CUO.
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Inver Re said the launch was part of its growing inter-disciplinary approach to reinsurance broking.
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The specialty cyber underwriter has appointed David Ross to head up the new outfit.
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The new deputy CIO will have a focus on reinsurance debt investing.
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Hurricane Earl is forecast to pass southeast of Bermuda, but tropical-storm-strength winds are predicted to hit the Island on Thursday.
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ABIR reported that Bermudians posted a total loss ratio of 69.9% and a combined ratio of 100.1% last year.
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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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In 2021, the US-Bermudian reinsurance composite’s combined ratio improved six points YoY.
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The Sompo International company was placed into run-off in June 2019.
