Bermuda
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The firm’s core CoR improved 3.2 points to 90.2%. -
Deteriorating CoRs, GWP growth and fears over wildfire impacts were common themes.
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The company, meanwhile, is bullish on E&S US casualty.
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The firm pegged industry losses at $35bn-$45bn.
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The start-up has achieved an A- credit rating from AM Best.
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Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.
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The restructuring arrangement is designed to protect creditors.
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At 1 January renewals, prices dropped 5%-15% for loss-free programmes.
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The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
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The MGA and 49% owner SiriusPoint could bring in a new investor.
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Claims related to California wildfires are "fairly insubstantial" to date, executives said.
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The capital partners unit was launched via London Bridge 2 in Lloyd’s last year.
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