Reinsurers
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Overall, reinsurers accepted that rate cuts were still leaving them with strong margins. -
AIG launched an IPO of Corebridge Financial in September 2022.
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The carrier attributed the intensification of storms this season to climate change.
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The sale of the business was confirmed in June.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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Major reserve releases help drive strong Q3 and year-to-date results, but the industry looks over-optimistic.
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The 2024 hurricane season stayed within predictions for high activity but lacked market-moving events.
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The Class B notes on the carrier’s debut deal attach at $500mn of losses.
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The start-up has secured BMA approval as it looks to a 1 January kick-off.
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The P&C industry had its best Q3 combined ratio since 2015, driven by personal lines.
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Jelle Ouwehand joined Arch from Marsh, where he was a senior terrorism, PV and war broker.
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The estimate includes $102mn from Milton and $114mn Helene development.
Related
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Global non-life premium up 4.3% in 2024: Swiss Re
November 19, 2024 -
Heavy 9M reserve releases likely to flip to charges in Q4
November 14, 2024 -
Fema estimates NFIP losses of $3.5bn-$7bn for Hurricane Helene
November 13, 2024