Arch Capital
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The mixed ruling delivered by the High Court meant insurers escaped from worst-case loss scenarios. -
The Bermuda (re)insurance trade body elects officers for 2021-2022.
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The recruit will work as a senior underwriter and look to drive growth in the line of business.
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The Arch Worldwide Insurance chief will take up the new position on 1 January.
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The parent will introduce a split stamp for the syndicate and 2012, whose capacity increases about 16%.
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The move comes as conditions continue to improve for hull underwriters following years of losses.
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Excluding Covid-19 claims, it was the company’s highest cat quarter since 3Q17.
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Watford is liable for a $18.6mn fee if the Arch deal is terminated.
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Axis, RenRe, Arch and Everest Re trade roughly in line with the S&P 500.
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The Bermudian is adding $10mn-$15mn to its Covid loss estimate as claims climb.
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The hotly anticipated judgment will be a milestone in the ongoing dispute about how carriers respond to Covid lockdown-related losses.
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Arch Capital reportedly offered to buy the business for a per-share value over 45% above yesterday’s close.
