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Fee income at the Re & ILS division grew by 58% to $44.3mn in H1. -
Severe thunderstorms, mainly in the US, accounted for 70% of insured losses globally.
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Its forecast for intense hurricanes is unchanged at six.
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The NHC has said there is potential for “historic heavy rainfall” across southeast Georgia and South Carolina.
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It consisted of three major earthquakes within a nine-hour period on 6 February 2023.
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Geico more than tripled underwriting profits.
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The ‘life threatening’ hurricane has potential for “historic heavy rainfall” in the southeastern United States.
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The broker said less than 1% of companies globally with cyber insurance were impacted.
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The insurer said once firms give up lower attachments or aggregates they “simply do not get them back”.
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Over 75% of insured losses attributable to severe thunderstorms, flooding and forest fires.
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The firm also posted a 56% increase in fee income.
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Losses from mid-sized nat cats added 9.9 points to the P&C combined ratio.
