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In casualty, getting significant blocks of capacity remains a major challenge. -
The program is designed to address a changing risk environment.
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The reinsurer said the market was unprofitable and pricing needed to increase immediately.
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The executive will begin serving as Hiscox USA’s CUO as of May 5.
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The deal is expected to close in the second quarter.
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The only major product line to see rate increases was casualty.
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The insurer's professional liability reinsurance book shrank by around 25%.
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The role will unify the P&C and professional and executive risk practices.
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The two internal hires have been with BHSI for around five years.
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The company has hired Axa XL’s Irvine to lead the new platform.
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He will oversee Ascot’s US and Bermuda insurance and reinsurance companies.
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The executive was most recently chief revenue officer at Aon.
