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In 2021, the US-Bermudian reinsurance composite’s combined ratio improved six points YoY.
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Cyber risk ILS will grow slowly in the short-to-medium term, S&P Global Ratings has predicted.
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The Sompo International company was placed into run-off in June 2019.
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The firms said transparency on data, methodology and machine learning techniques would build trust.
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The forecast for the number of hurricanes remains unchanged and calls for six to eight hurricanes and three to five major hurricanes this season.
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If Hurricane Andrew were to hit the coastal regions of Florida today, insured losses would be nearly four times the $15.5bn borne by carriers 30 years ago.
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The latest estimate is an increase on Perils’ earlier figure of EUR3.6bn.
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Allstate CFO Mario Rizzo vowed to continue pushing through auto rate increases.
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Twia noted that the cancellations had come as Texas enters peak hurricane season.
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France’s Gironde region struck by serious wildfire outbreak
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The carrier posted losses from various flooding and hail events hitting Australia in the past year.