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The carrier’s combined ratio deteriorated by 10.9 points to 101%. -
Perils estimated the loss at EU377mn six weeks after the event and at EUR488mn three months after.
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The ILS cedants will receive “substantially decreased” S&P capital relief following the criteria changes, Arch said.
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The UK government has set out a re-energised international development agenda which has highlighted the potential for greater disaster risk financing.
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Martin Ford joins the broker following a 26-year-stint at Gallagher Re, formerly Willis Re.
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Steiger is said to be moving to an “entrepreneurial” role after more than six years with the Zurich-based firm.
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Google DeepMind developers recently said in a peer-reviewed paper that the model "marks a turning point in weather forecasting”.
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The number of disasters costing $1bn or more during the period is the highest on record.
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Aon-owned Mexican cat modeler ERN estimated Otis insured wind losses, excluding auto and infrastructure, at $1.2bn-$1.8bn.
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The forecast reflects property damage and BI losses to residential, commercial, industrial and automobile lines.
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A non-binding term sheet was signed on October 6, whereby the buyer will acquire 100% of Interboro’s issued and outstanding securities in exchange for cash.
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The move reflects years of weak profitability caused by high cost inflation and cat losses.
