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Litigation costs continue to weigh on long-tail lines, but effects of tort reform are visible. -
It is the second deliverable of the FIT Transition Plan Project.
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The changes affect operations in Switzerland, Bermuda and the US.
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The transition will be implemented starting October 15.
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Separately, Caribbean market head Janine Seifert is leaving the reinsurer for BMS Re.
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He was most recently Marsh’s US manufacturing and automotive practice head.
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The executive brings more than 25 years of insurance experience.
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The broker has expanded the number of global industry verticals to seven from four.
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The soft market continued through H1 2025, especially on shared programs.
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The LA wildfires accounted for 59% of loss activity over Q1.
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Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said.
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The company said the reduction was due to years of steady improvements.
