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Radford joins after spending two years at Aon’s Capital Advisory business. -
The insurance company had set out plans last summer to expand its market share in Florida.
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Reinsurance underwriting discipline will not subside even as reinsurers’ willingness to deploy capital increases, the broker said.
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July’s rise was the second-best performing July since records began in 2008.
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The broker’s half-year 2023 report said reinsurers’ RoE has surpassed the cost of capital for second year running.
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The ratings agency said the reinsurance market was ‘the hardest in decades’ amid tightened terms and conditions as well as increased rates.
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The National Flood Insurance Programme could face a loss of around $500mn from the hurricane, according to the estimate.
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The Florida hurricane season still has three months to run in a predicted above-average year.
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Outside the cat bond segment, Aon said it was observing rising sidecar interest, putting volumes at $7.1bn from $6.4bn the prior year.
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Karen Clark & Company said the majority of insured losses will incur from US wind and storm surge damage, apart from just under $5mn which was attributed to winds across the Caribbean.
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A committee of unsecured debtors was appointed, including Markel, Clear Blue, Porch’s HOA, United Automobile Insurance and Proventus.
