Conduit
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The post-disaster reinsurance start-up model is changing. -
Angus Hampton, meanwhile, has been promoted to head of casualty in place of Mario Binetti.
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The Bermudian reiterated its pledge to improve performance.
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Aviation reinsurance reserving issues will also be a broader focus for the market.
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The CEO said business remains adequately priced in most classes.
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The carrier is reducing its exposure to quota shares and shifting to XoL.
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The carrier said market dynamics were shifting due to increased capacity.
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Eckert said the reinsurance market is still at historically well priced levels.
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What’s next for Conduit Re’s strategy following a leadership shake-up?
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The new CEO said recent purchases were designed to protect earnings volatility.
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New CEO Eckert said Conduit had taken “decisive action” after the LA wildfires.
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Neil Eckert has been chair since the carrier was founded.
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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”.
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The carrier said activity across smaller and mid-sized natural catastrophe and risk events had been “elevated”.
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The carrier continued to expand in property and specialty, especially non-cat exposed business.
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CEO Trevor Carvey described the market during Q1 as being a "very healthy environment”.
