Bermuda
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The carrier’s shares declined over 17% this morning following Q3 earnings and strategic actions. -
Envelop Underwriting will bring all the firm’s underwriting into one framework.
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The firm announced Q3 results alongside strategic actions that included an ADC deal with Enstar.
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In other property, Helene and Milton will assure rates remain attractive, he added.
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D&O and D&F are also facing increased competition, but property remains price adequate.
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Kevin Stokes has been with Pillar for nearly four years.
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Hamilton reported a $30mn-$70mn net estimate for Hurricane Milton losses.
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Hurricane Milton is estimated to have a net negative impact of $275mn on Q4 results.
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The company has written over $100mn in gross premium in the US this year.
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The combined ratio included 17 points of catastrophe losses in the third quarter.
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Losses were attributed to the Taiwan earthquake and flooding in Middle East and Europe.
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The firm is still operating within its catastrophe budget for the year, CEO Scott Egan said.
