Conduit
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The new CEO said recent purchases were designed to protect earnings volatility. -
New CEO Eckert said Conduit had taken “decisive action” after the LA wildfires.
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Combating depressed trading on the LSE and a delayed hard market shift has held back the firm.
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The CUO’s turnover closely follows that of the CEO.
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Conduit Holdings announced CEO Trevor Carvey’s retirement today.
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Analysts see Conduit’s extra reinsurance buying as a positive development.
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Executive chair Neil Eckert will step in as interim CEO.
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The chairman said the recent events were akin to Andrew, Katrina and the WTC.
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The carrier expects to book $100mn-$140mn from the California wildfires.
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Chairman Neil Eckert and CEO Trevor Carvey said the outlook for the market remains "very good".
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CEO Trevor Carvey said the revision reflected Conduit’s “favourable reception”.
