Results
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The broker said EPS estimates for 2023 were broadly flat due to inflation fears. -
The ratings agency warns latent exposure to property risk could cause capital deterioration.
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Allstate CFO Mario Rizzo vowed to continue pushing through auto rate increases.
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The Brazilian reinsurer suffered large losses from weather-hit crop producers.
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The fund’s allocations to general and life insurance investments have grown year over year.
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Third-party reinsurance capital was predicted to hit $95bn in 2022.
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The carrier posted losses from various flooding and hail events hitting Australia in the past year.
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The firm’s European regional treaty cover shrank 9% to $398m.
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The company’s net cat loss fell by 1.7% to $454mn year over year.
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The firm pointed to likely material increases in reinsurance rates for peak zone business in some cases.
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The carrier said pricing on property quota share, particularly in the US, was not keeping pace with inflation.
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On August 1, Demotech downgraded UPC's financial stability rating by two notches to M from A.
