Munich Re
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Maria Long joins the cyber insurer from Munich Re as the company's deputy CUO. -
The carrier attributed the intensification of storms this season to climate change.
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The executive joins Munich Re from Amwins Global Risks.
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Over 75% of insured losses attributable to severe thunderstorms, flooding and forest fires.
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Munich Re’s capacity is backing insurance programs for municipalities, fire and emergency services as well as water facilities.
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The executive was formerly AIG’s head of casualty claims.
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Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.
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He replaces Joe Bonanno following a realignment of the E&S property leadership.
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Current CEO John Mulvihill is retiring after 34 years with the specialty insurer.
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Munich Re Specialty Insurance (MRSI) has promoted Jeffrey Marks to COO, effective immediately.
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The uptake on war exclusions, which was followed by other reinsurers, could signal the end of "endless" discussions on the topic.
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In addition to price, E&S insurers need to pay close attention to terms and conditions, as well as quality of risk.
Related
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Munich Re Specialty Insurance elevates Hohman to CUO
September 18, 2023 -
Munich Re remained largest reinsurer in 2022: AM Best
August 22, 2023 -
MRSI elevates Kramer to president of E&S lines
July 18, 2023