California
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges. -
Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.
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Alliant is in the process of moving the ~$1bn of business it places with Howden to other wholesalers.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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The business has been ~70% owned by White Mountains since January 2024.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The carrier notified California regulators that it would stop renewing plans starting last month.
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What’s next for the reinsurance market as Monte Carlo approaches?
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This is the first rate filing to use the recently approved Verisk model.
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The model becomes the second in the state to get approval to affect ratemaking applications.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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The insurer denies it is responsible for the actor’s legal fees.
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The impact on the (re)insurance market has been muted due to its strong capital position.
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Up to nine million acres of US land are considered likely to burn.
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Ark's combined ratio included 25 points of catastrophe losses in Q1.
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The insurer has not decided whether to sell its Eaton subrogation rights.
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The industry loss data provider also increased its estimate for Hurricane Helene to $15.3bn.
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The carrier has received 12,300 claims as of 28 March.
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Plus, the latest people moves and all the top news of the week.
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Sources warned some property XoL books are already running 50% loss ratios.
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Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
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“We do not have the luxury of time,” he said during the Bermuda Risk Summit.
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These events can also no longer be considered secondary perils, executives said.
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Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
