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Top related persons:
Mike Blake - 1 Gallagher Re - 1 James Vickers - 1 Gallagher - 1 Hurricane Ian - 1 Aon - 1 Carolyn Cohn - 1 Noor Zainab Hussain - 1
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Laguna Niguel , California U.S California Florida In Florida Russia Khartoum London
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2 mentions found


☆ U.S. property catastrophe reinsurance rates rise up to 50% on July 1-report
  + stars: | 2023-07-03 | by ( ) www.reuters.com   time to read: +2 min
Higher reinsurance rates can affect the premiums which insurers charge to their customers. U.S. reinsurance rates for policies which previously faced claims for natural catastrophes rose 30-50%, Gallagher Re said. Reinsurance rates for similar policies in Florida rose 30-40%, the broker added. State Farm said in May it would stop selling new insurance policies to homeowners in California. Reinsurance rates for some types of aviation war policies rose by up to 100% on the July 1 renewal date, Gallagher Re said.
Persons: Mike Blake, Gallagher Re, James Vickers, Gallagher, Hurricane Ian, Aon, Carolyn Cohn, Noor Zainab Hussain, Louise Heavens Organizations: REUTERS, Farm, Gallagher Re, Reuters, Vickers, Hurricane, U.S, Industry, Boeing, Thomson Locations: Laguna Niguel , California, U.S, California, Florida, In Florida, Russia, Khartoum, London, Bengaluru
☆ Reinsurers cut Russia, Ukraine from policies on Jan 1 -broker
  + stars: | 2023-01-03 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Jan 3 (Reuters) - Reinsurers are excluding Russia, Ukraine and Belarus from policies offered to their insurance clients and cutting back their exposure to U.S. hurricanes, a report from reinsurance broker Gallagher Re (AJG.N) showed on Tuesday. Reinsurers insure insurers and Jan. 1 is the most important date in the calendar for policy renewals. Some insurers have already backed away from providing cover in Russia, Ukraine and Belarus due to risk of sanctions or of steep losses. Without reinsurance, insurers are likely to be even more reluctant to provide cover for Russia or Ukraine, industry sources say. Aviation reinsurance rates rose by as much as 200% on Jan. 1 for some types of business, Gallagher Re said.
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