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The carrier continued to experience a significant level of catastrophe losses this year, which resulted in lower year-to-date earnings than expected, according to CFO Frey. -
The broker said that $100bn+ loss years have become the “new normal”.
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The reinsurer said hardening of property reinsurance conditions must continue.
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The US could be exposed to economic losses of $1.1tn in the event of a cyberattack, the highest of any country.
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The Bermuda-based collateralised reinsurance platform Sussex Capital was set up in December 2017 and had more than $400mn of assets at its peak.
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The 30-strong segment will combine reinsurance and capital markets with data, analytics and technology.
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The company said Ki is the first algorithmic underwriter to offer capacity from multiple syndicates.
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Caccamese spent nearly six years at rival broker Guy Carpenter prior to joining Aon.
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Bohm joins from Swiss Re Capital Markets, where he was head of structuring for the Americas.
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The fund had taken major losses on cat-related investments, including through Southeast primary carriers Weston and Southern Fidelity.
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Stress-test numbers were increased to 112, including scenarios of losses in multiple years, up from 105.
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Fermat’s John Seo said the industry can “see the wall of money coming in, but it’s coming in slowly”.
