Treaty Reinsurance
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Covid claims would lead to a 106% 2020 combined ratio, the ratings agency says.
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The broker lifts its operating margin by 2 points as reinsurance solutions expands 9 percent on an underlying basis.
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CEO Dan Glaser highlights the firm's resilience amid the pandemic.
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Group CEO Juan Andrade will assume oversight of the expanding insurance arm.
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The underlying cost of capital remains far above the average return on equity.
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Listing watchdogs rule that the stock hasn’t met the exchange’s minimum price requirements.
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The step follows the resignations of four directors earlier this week.
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The broker says claims are manageable, but the dual hit to balance sheets sets the scene for a capital squeeze.
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The deal will “capitalise on a dynamic competitive landscape and continue our strong growth trajectory”, Rod Fox says.
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Attritional losses hit a 14-year high due to worsening casualty trends and man-made losses.
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Reinsurance renewal largely completed without interruption; reinsurers achieve rate improvements on loss-impacted programs, limited fallout from covid-19; June renewal onward expected to be a different story
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The move comes as Lockton continues an expansion into new areas of the reinsurance market.
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