Bermudians
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The insurer cut average annual loss exposure by 40% more than a year ahead of schedule after shedding property limit and restructuring reinsurance purchases.
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The hire previously worked for BMS and Price Forbes.
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The underwriting profits within the carrier’s US operations narrowed to $25mn, after higher economic activity and attritional claims caused margins to tighten.
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The former Alterra Global Reinsurance CEO will be responsible for establishing the new hub for the reinsurance broker.
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Good news may be temporary, no matter how good it is.
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“I think it's fair to say that the market momentum is clearly there,” Grandisson said on Thursday.
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He suggested that the company might be willing to allow higher commissions.
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Janet Cowell, a James River board member since 2016, says she will not stand for reelection in 2022.
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The reinsurer grew its casualty pro rata reinsurance book by 64%, adding $218mn in GWP.
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The insurance division added almost $300mn in premium in the quarter, while volumes in reinsurance were higher by $360mn.
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Aspen said Mike Cain will still remain with the company through Q1 2022.
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The carrier has restructured its cyber business with stringent underwriting conditions.
