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Andrade flagged expected 5% to 10% increases in the US and Europe. -
Greenberg said London behavior in cat market “is almost aberrant relative to everybody else”.
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Total insured losses are expected to range from $34bn to $54bn.
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The price for policies with the same limit and deductible decreased 6.0%.
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However, rate gains again accelerated year over year for all lines except workers compensation.
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Overall, insurance rates fell by 1%, led by competition in property.
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Sources said that Milton may slow the pace of rate deceleration.
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This could change if Milton losses turn “ugly”.
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CEO John Doyle said global property rates were down 2% versus flat in Q2.
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Current rates at 2% to 2.5% translate to an 86% incurred loss ratio.
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Deal flow is still far below levels seen in 2021.
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Twia filed for the rate hike in August after an actuarial analysis showed that rates were inadequate.
