companies
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The executive has been with the firm for 30 years.
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US SCS accounted for nearly $11bn in global insured losses.
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The firm reportedly parted ways with 120-130 employees as part of the cuts.
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Early results suggest another strong quarter with a variety of driving forces.
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Its risk management of US captive reinsurance contracts has improved, the agency said.
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The US casualty market was “challenging”, the executive said.
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Property rate increases decelerated to 3% in the quarter.
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Pauline Morley will report to John Van Decker, head of global financial lines.
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This follows February’s cat losses coming in below the $150mn reporting threshold.
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The Q1 figure represents a 2-point acceleration on the 7% reported in Q4 2023.
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Corrective actions revealed by Travelers in the first-quarter earnings could set the stage for similar moves from peers
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He replaces Joe Bonanno following a realignment of the E&S property leadership.
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The insurer is currently transitioning Corvus' ‘profitable’ $200mn book of business.
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The executive joins from regional insurer ASSA, where he spent almost 16 years.
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Underlying improvement was driven by a decrease in personal lines core CoR.
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Insured loss for Q1 was 10% higher than the decadal average of $18bn.
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The parties completed the acquisition of JRG Re “at the previously agreed upon terms".
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James Lawrence brings with him thirty-five-year of insurance industry experience
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WTW predicted that ‘meaningful softening’ could creep into energy markets during the year.
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The US regulator faces litigation from both sides of the climate issue.
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Increased reinsurance retentions left some insurers with their worst net results in a decade.
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Aspen said reduced reinsurance appetite made it a good time to seek alternative capacity.
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Scott Reinke joins the specialty insurer’s transactional surety team from Arch.
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The new offering marks the expansion of BHSI’s US marine facilities.