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The executive joins RPS after almost 12 years at Markel. -
The floods add to an already historic loss tally for Canada in 2024.
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The executive will build out Hamilton Americas property team and a book targeting commercial E&S risks.
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The carrier said activity across smaller and mid-sized natural catastrophe and risk events had been “elevated”.
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Initial expectations for the later storm prove overblown, while inland auto losses mount for the earlier event.
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The firm will provide an update on November 22 to avoid holiday season.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
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Andrade flagged expected 5% to 10% increases in the US and Europe.
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Total insured losses are expected to range from $34bn to $54bn.
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Westhoff will also spearhead the launch of QBE’s E&S property offering.
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Underwriting remains disciplined as insurers target profitable growth.
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Insured losses for 9M 2024 have hit $102bn, according to a report.
