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    In the US, operating DPW declined 3%, mainly due to the non-renewal of a large account. The region’s combined ratio improved slightly to 86.8%, helped by rate momentum across most lines. In the UK and Ireland, operating DPW fell 4% as portfolio remediation efforts continued. The combined ratio in that segment rose to 97.6%, influenced by elevated weather-related losses.



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    Copa Holdings, S.A. (CPA) Q1 2025 Earnings Call Transcript

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