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The Insider 50 contracted marginally last week as most companies in the index stagnated
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The deal represents the fifth large transaction from an established player to buy a specialty player in the last two years.
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US specialty insurers in The Insider 50 were the clear winners last week.
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Everest Re's unexpected $250mn negative development from last year's hurricanes proved to be an isolated case among Bermudians.
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The Insider 50 contracted by 1.0 percent last week, as 35 companies in the index posted negative share price movements.
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Brokers’ valuation multiples have also been heavily eroded.
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Beazley among the carriers to fall short of analyst expectations.
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London carriers in the Insider 50 outperformed all other groups of companies in the index last week.
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Early reporters paint a picture of an orderly market in transition.
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Some early data points have suggested notable loss creep on Hurricane Irma claims emanating from Florida.
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To date, the company is the only US carrier to miss consensus estimates for second quarter earnings.
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Beazley and Lancashire posted unexpected misses against estimates.