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The unit will support Ascot’s third-party capital business. -
The insurer currently has $300mn of reinsurance limit from cyber cat bonds.
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Positive cat experience impact of $600mn was offset by $500mn in property and specialty reserves.
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The P&C Re CoR came in at 84.5%, a 10.2-point YoY improvement.
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The CEA has $326.4mn towards risk transfer, 44% below budget.
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The timing is “opportune” to start the strategy according to Bennelong.
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Leadenhall first filed its lawsuit against 777 Partners in May this year.
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Total catastrophe losses stemmed from 20 events and were estimated at $587mn.
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Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery.
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The ILS business increased H1 fee income by 13% to $68mn.
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The firm predicts 2024 will be a record year for primary issuance.
