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The executive told analysts that reinsurance rates are starting to climb in certain areas, offering opportunities.
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A modest 2.9 percent increase in casualty was driven by excess liability and auto.
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The business was pitched to investors as a $4.5bn top-line business by 2025.
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Global P&C CEO Jean-Paul Conoscente says recent Japanese losses triggered a rethink.
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Kevin O’Donnell said that several domestic insurers in Florida are now close to exhausting their 2017 private market treaties.
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The carrier notes an underwhelming industry response at 1 January to recent natural catastrophe losses.
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The new funds raised at 1 January are dedicated to its retro-focused Upsilon fund and its Medici cat bond strategy.
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The executive says retention and new business wins drive growth.
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Marsh’s global insurance market index hit 11% in Q4, up almost 9pts YoY.
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WR Berkley has witnessed a surge in E&S submissions even as rates creep upward.
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California recorded a 34.1 percent jump in excess and surplus premiums written compared with the previous year.
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Excess rates continue to rise after several carriers early last year pulled back from the class.