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Overall, insurance rates fell by 1%, led by competition in property. -
The three-year deal is expected to generate $200mn in GWP over the period.
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Sources said that Milton may slow the pace of rate deceleration.
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The company said $13bn-$22bn will come from wind damage.
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Prior to the event, clients were expecting a “very competitive market environment”.
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Most of the insured loss was attributable to wind.
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He replaces Kevin Madden who will assume the role of chairman for North American real estate.
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Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power.
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Milton’s center is projected to make landfall near or just south of Tampa Bay.
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Contrary to expectations that US casualty would dominate the conversations, Milton took the spotlight.
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Milton stole the limelight from slightly stuck PE-backed brokers, acquisitive globals and the casualty conundrum.
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The NHC is predicting storm surge, exacerbated by the tide, as high as 15ft for Tampa Bay.
