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The traditional R&W product is seeing an increasing number of large losses. -
Cyber premiums dropped 1.8%, while commercial auto was up 8.9%.
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In tandem, it pegged its net cat loss estimate from California wildfires at $160mn-$190mn.
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The carrier said 72% of those losses occurred in personal property.
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The investment firm’s holdings were down to $59mn at the end of Q4.
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The insurer is seeking a 22% interim raise, but the request is currently on hold.
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Jana holds around 109,000 shares and 69,000 call options, at a $307mn total value.
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He emphasized that Consilium is a private business and intends to remain one.
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January CPI/PPI heats up but won’t translate to higher loss costs.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
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The carrier expects to book $100mn-$140mn from the California wildfires.
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Insurers have paid $6.9bn in Southern California wildfire claims in the first four weeks of recovery.
