Scor
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The carrier predicts P&C rates will increase in the double digits in both Japan and the US later this year.
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The government also said it is exploring the possibility of issuing a cat bond in the near future.
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Setting up vehicles under the UK’s new ILS legislation in its first year has required huge amounts of time, money and patience.
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The Covea CEO’s resignation follows his company’s thwarted takeover of Scor.
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Third-quarter catastrophe losses resulted in a 1.8 percent to 5.2 percent hit to the shareholder equity of global reinsurers, with major catastrophe writers all impacted.
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The reinsurer reported EUR177mn of losses from named Q3 disaster events.
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InsurTech is not a market that is as ripe for disruption as the catastrophe reinsurance business was, according to Scor’s Adrian Jones.
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The analyst estimated the continental (re)insurers are each on course to take 5% of losses from the Category 2 hurricane heading for the Carolinas.
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The reinsurer has created a new P&C partners unit encompassing its retro and third-party capital strategies as well as insurtech ventures, underwriting management and product development.
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The Swedish insurers’ association Svensk Forsakring has estimated the fires that swept through Swedish forests from May to July will lead to insured losses of SEK800mn ($87mn).
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The reinsurance deal covers $700mn of liabilities.
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Scor's senior underwriter Marco Silva is currently on gardening leave, according to sources.