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The combined ratio improved overall despite the marked increase in catastrophe claims.
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The executive had been president of Bermuda for Chubb’s reinsurance arm since 2011.
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The California-based carrier had to tap reinsurers for two reinstatements in Q4.
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The fourth-quarter charge will take group full-year pandemic losses to EUR1.2bn.
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The $296mn of reported cat losses were down 31% year on year.
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The carrier has set aside $13mn to pay coronavirus claims at its international unit.
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Of the largest insured losses from single events last year, the top eight occurred in the US.
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Losses stem from four events and amount to $1.5mn gross.
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The analyst predicts the insurance sector could experience its best performance in nearly a decade.
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The event was the third Australian hailstorm event of 2020 reported by the data aggregator.
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The industry should expect similar losses in any given year, BMS vice president Andrew Siffert said.
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Hurricanes Laura, Delta and Zeta made landfall in the state during a record-breaking hurricane season.