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The CEO said the company was only prepared to deploy capital if increases were sufficient. -
Steven Israel, Clint Downey, Patrick Whalen and Charles Madry have left the carrier.
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The food retailer’s property all-risks policy will exclude SRCC cover, and it is not covered under its PV policy.
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Chris Conway joins TigerRisk from Neon Underwriting Bermuda, where he was senior vice president.
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Carriers led by Axa XL are accused of “not acting in good faith” and acting “miserly”.
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The carrier cut gross limits for the class of business by $40bn during the quarter.
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The carrier said rates were not responding adequately to claims and loss creep.
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As one of the market’s de facto regulators, it is well placed to understand demand-side factors.
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Companies with high reinsurance dependence face “difficult choices”, the ratings agency said in a new report.
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The cat bond could help lower barriers to collateralised participation in primary business, says the ratings agency.
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Disruption in P&C markets is expected to boost demand for captive services.
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Excess rates continue to rise after several carriers early last year pulled back from the class.
