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Insurance rates in the US rose 15%, while London market pricing was up 10% -
Rates for Japanese wind treaties increased between 5% and 10% at the April renewal, while quake pricing was up 5%.
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The carrier yesterday shook of $64mn in Uri claims to report a return to profit.
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Net income leapt by 140% whilst margins expanded across all business segments.
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The insurer reported no new above-budget weather losses in the quarter.
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The broker’s report further strengthens the case for 2021 becoming the best expansion year for the industry in many years.
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Chubb could choose to grow organically but a merger might help it leapfrog in its SME capabilities.
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Arch’s combined ratio improved by 1.2 points to 89.2% and company weathered winter storms to produce an underwriting profit just shy of $200mn.
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The intermediary’s 6% organic growth was aided by the economic recovery, price improvements and disruption in the broking market.
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Marsh books 9% US organic growth while Guy Carpenter continues to expand at pace.
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The insurer has benefited from recoveries from its captive after reworking its reinsurance treaty with the unit.
