Profitable commercial and industrial lines lead to 92.7% COR in 2023, thought insurer has a heavy reliance on reinsurance to manage large commercial property, engineering, and energy risks.
Cole has 25 years industry experience and will be promoted from his position of Global Head of Underwriting Management and Deputy Chief Underwriting Officer, Marine.
SCA accelerates reforms and sets earlier start date for insurance disclosure guide following allegations of excessive brokerage fees by a strata management firm.
Claims to be well in excess of GXL US$100m attachment point, leaving reinsurers bearing bulk of insured cost, but risk understood to be spread across 80 reinsurers.
Container ship collided with bridge, causing it to collapse and sending people and vehicles into the Patapsco River, with initial estimates suggesting damage could run into the billions.
