Peter Zaffino

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In a recent market update, QBE Re’s Chris Killourhy discussed the reinsurer's strategic move to reduce its client count significantly. By prioritizing consistency over changing pricing models, QBE Re aims to foster a more sustainable reinsurance market. This approach reflects a broader industry trend toward building credibility and long-term stability amidst an active hurricane season. https://hubs.la/Q02LXg4Y0

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W. R. Berkley Corporation has reported a Q1 2024 combined ratio of 88.8%, including current accident year catastrophe losses of $30.5 million, leading to a 31.8% rise in pre-tax underwriting income to $309 million. #insurance #reinsurance

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The U.S. private market insurance industry loss from Hurricane Debby is not expected to exceed $1.5 billion, while losses to the National Flood Insurance Program (NFIP) from the event will be less than $300 million, according to RMS.

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Directors and Officers Liability for 2023 had the best loss ratio it’s had in nearly a decade, but AM Best is not convinced it will stay that way. Insurers aren't pressed to increase rates because of favorable results, and more insurers have entered the market recently. So, why is AM Best concerned? Lions in the grass… one of which being lawsuits from previous years, some of which are resulting in significantly increased settlements. Full article linked below in the comments. #directorsandofficers #insurance 

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As the actuarial profession evolves, so do the expectations of new entrants. In a recent episode of the Leadership Interview Series hosted by the Conference of Consulting Actuaries - CCA and podcast host Michael Clark, Bella Thiel, a new actuarial professional, highlights the growing focus on topics like mental health, work-life balance, environmental impact, the value of genuine mentorship, and the need for authentic leadership   Key Insights: - Company Culture: Younger actuaries seek leaders who create supportive environments, encouraging open discussions on well-being. - Mentorship Matters: There’s a strong need for experienced actuaries to actively offer mentorship to help guide the next generation. - Authentic Leadership: Leaders who are transparent about their struggles and lead with empathy serve as the most effective role models.   Tune in to the podcast to hear Bella’s insights on how leadership can evolve to meet the needs of a new generation. 🎧 https://lnkd.in/eTZ3cdk3 Bella also maintains a Youtube channel to fill a gap she saw during her own research into the profession, offering student perspectives on actuarial exams, internships, and career advice.   #Mentorship #MentalHealth #Authenticity #Leadership #ActuarialProfession #Volunteering #YoungActuraries #Interships

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How insurers are positioned to respond to the 2024 hurricane season

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Max Rudolph, founder of Rudolph Financial Consulting, discusses the results of a survey conducted by the Society of Actuaries and the Casualty Actuarial Society that shows changing priorities for risk managers. Watch now: https://bit.ly/35JLtjJ #maxrudolph #riskmanager #actuaries

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With the increasing frequency and severity of wildfires, insureds need to go beyond traditional insurance coverage and invest in comprehensive wildfire protection. 🔥 Check out this insightful Risk & Insurance article featuring Munich Re Specialty’s Rachael Dougherty to learn more 👉 https://lnkd.in/e-uHMMRA #MunichReSpecialty #WildfireRisk #RiskMitigation

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BF&M reported a 46% drop in net income for H1 2024, falling to $7.5 million from $13.9 million a year earlier, due to increased property reinsurance. The insurer, set to merge with Argus, reported these figures for the period ending June 30. "We are pleased with our company’s performance in the first half of the year, despite ongoing macroeconomic headwinds," said Abigail Clifford, Group President and CEO. Read more insights here: https://ow.ly/lfcV50T2YFQ #BusinessPerformance #InsuranceMarket

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Unlock Predictable Underwriting Performance! Just like top sports teams, consistent high performers exist in underwriting too. The key? Relative performance is not random. External factors may influence absolute results, but our ICMR model goes beyond that. Learn how it can help you forecast relative future performance at Lloyd's and gain a competitive edge. https://lnkd.in/eK_Scas9 #performance #underwriting #predictivemodelling

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